13 thoughts on “Carbon Capturing My Heart”

  3. IMO they buried the lede in the end of the press release:

    “Today’s announcement further highlights TPL’s strong commitment to Environmental, Social, and Governance (“ESG”) initiatives. Sustainalytics, a leading provider of ESG research, ratings, and data to institutional investors and companies, recently provided its risk rating for TPL. Out of all entities in the Oil and Gas Producers Industry, TPL ranked #1 and #2 in the U.S. and globally, respectively. Among nearly 15,000 companies globally, TPL was ranked in the top 5th percentile.”

    Maybe some fund managers with ESG mandates who have been bitterly watching the oil price climb will have an excuse to jump in?

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  4. F-me, back above 1600 again. Sure beats holding Meta Book Zook. Zuckerberg- now there is some carbon I wouldn’t mind seeing captured.

    if you are getting too excited here is a link to a youtube video from Blockworks Macro (one of my favorite channels) where an oil&gas guest doesn’t care for TPL.

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      • TPL doesn’t have peers. That is what nobody understands. The capital allocation model that he questions has made the stock one of the best performers for ~100yrs. Oh well, Josh NGMI.

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        • yeah i must agree with you, i hold a fair bit of it.

          and it frightens me to think i may have to give management some credit in the not too distant future. What will I do with all my hatred?

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        • NGMI lol? His fund was the best performing fund on the planet last year. Not in energy, in any category.

          He’s right that TPL is more richly valued than its peers – whether that is justified or not is the question. He said today he likes Black Stone Minerals, FWIW.

          And his comment on TPL buying other mineral trusts doesn’t sound crazy to me. Does anyone know if the board has considered this?

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    • He misses some on the other royalty companies that will havee we to pay more for their royalties bc they don’t own the land. Also misses on the surface portion for many companies don’t have surface rights.. And his 2x cash flow will get hurt a lot when they get inflated expenses.

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  5. The new Directors are probably impacting these decisions. They have the background to accomplish great things, Add them to Stahl & Oliver and we should start losing some of that animosity we’ve had to develop at Barry & Morris.

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  6. This is an interesting play for TPL. It seems positive in that they are showing more progress in the TPL ESG strategy, which should help in attracting institutional investment.

    Presumably this letter of intent leads to Milestone building facilities and infrastructure on TPL land in the near future. That should mean more royalties and increased value for shareholders. It also appears in line with the trend to partner with emerging companies to improve the TPL Ecosystem for Operators with a focus on green solutions and better efficiency & services onsite. I like this business model of TPL being the iphone and the partners providing the latest apps for the Operators. I wonder what happens with the water business going forward and if we’ll see a change in direction there. This deal also leaves me wondering if we’re moving towards a strategy to market 45Q carbon credits.

    I like the direction, will give management credit when we see the execution.

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  7. This is a blatant response to the heavily polticized ESG intent that has become junk science, IMHO. There is no chance now that ESG will be mofdified until after the November elections. Why is the US emptying the SPR only to dounble the carbion footpeint to replace it, when we could have gotten a single add to our domentic assets, including those of TPL, to meet current domestic domand now beig shited to Venezuela, Russia and other slaps in the face of valuable and reliable US fossil fuel that will be herr for more than 100 plus years. I hope this loy doesn’t cost mich, but it may help the price of our shares stymied by ESG fake value assessments.

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