The Pick
Texas Pacific Land, ticker TPL, is the oil royalty centerpiece of Porter Stansberry’s Royalty Riches, and the promo nicknames it the “Accidental Oil Empire.” The company owns more than 800,000 acres across West Texas in the heart of the Permian Basin, with a share price near $347.04 and a market cap around $23.6 billion as of mid-August 2026.
The empire label is earned. TPL does not drill a single well itself. It owns the surface, the mineral rights, and the water that Permian operators need, then collects revenue from all three while companies like Chevron, ConocoPhillips, and Occidental do the actual production.
The Accidental Oil Empire
The quiet success story inside TPL is water. Its water business grew from about $8 million in 2016 to roughly $150 million by 2024, a 44 percent compound annual growth rate, with margins near 80 percent. Water now makes up about a third of revenue and gives the company a second engine beyond oil royalties.
The returns tell the same story. TPL has returned roughly 3,610 percent since 2016, against about 238 percent for the S&P 500 over the same stretch. That is a compounder, not a dividend machine: the yield is tiny, and the growth comes from share-price appreciation. Our TPL meaning explainer covers the name’s history.
What to Watch
The caution is concentration and price. TPL is a single-region bet on the Permian Basin, and royalty income still tracks oil prices even if the company holds up better than a driller. The stock is down about 16.7 percent since the original tease. For the oil side of the promo as a whole, see our oil royalty stocks piece.
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