Americas Pipelines and MLPs: TPL Midland Tour Takeaways

Goldman Sachs reviews a Permian tour with Texas Pacific Land (TPL), highlighting growth in water midstream services and data center development on surface acreage.

Key Takeaways

• 1.Texas Pacific Land (TPL) is pivoting focus toward water midstream development, specifically 'beneficial reuse' through desalination and fractional freezing technology.
• 2.The Permian Basin is seeing rising water-to-oil ratios (WOR), increasing the need for disposal capacity and creating opportunities for TPL's surface and royalty interests.
• 3.Data center opportunities are emerging on TPL's acreage through a partnership with Bolt Data & Energy, targeting large-scale campuses powered by proximity to gas and water.

Table of Contents

• Key Takeaways
• Produced water growth requires incremental disposal capacity.
• Looking to beneficial reuse as a potential end-market.
• TPL uses fractional freezing technology to support produced water desalination.
• Data center opportunities.
• Disclosure Appendix

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