Texas Pacific Land Trust Announces Formation of Water Resources Company

DALLAS–(BUSINESS WIRE)–Texas Pacific Land Trust (NYSE: TPL) (the “Trust”) today announced the
formation of Texas Pacific Water Resources, LLC (“TPWR”). TPWR, a
single-member LLC and wholly owned subsidiary of the Trust, will focus
on providing a full-service water offering to operators in the Permian
Basin. TPWR seeks to develop with operators integrated water servicing
agreements to include brackish water sourcing, produced water
gathering/treatment/recycling, infrastructure development/construction,
disposal, water tracking, analytical and well testing services. TPWR is
committed to sustainable water development with significant focus on the
large-scale implementation of recycled water operations.

Leading TPWR’s operations will be Robert A. Crain. Mr. Crain comes to
TPWR from EOG Resources where he led the development of EOG’s water
resource programs across multiple divisions including the Eagle Ford and
Permian basins. Mr. Crain and his team bring a wealth of water resource
development experience including large scale brackish water development
as well as extensive water recycling treatment experience.

Texas Pacific Land Trust is not a REIT.

This news release may contain forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements regarding the Trust’s future operations
and prospects, the markets for real estate in the areas in which the
Trust owns real estate, applicable zoning regulations, the markets for
oil and gas, production limits on prorated oil and gas wells authorized
by the Railroad Commission of Texas, expected competitions, management’s
intent, beliefs or current expectations with respect to the Trust’s
future financial performance and other matters. We assume no
responsibility to update any such forward-looking statements.

Contacts

Texas Pacific Land Trust
Robert J. Packer, 214-969-5531
General
Agent, Chief Financial Officer