14a: Yep, They Flipped


After the close of business on May 9, 2023, Texas Pacific Land Corporation (the “Company”) was informed that Glass, Lewis & Co. (“Glass Lewis”) updated its analysis and changed its voting recommendation for Proposal 4 with respect to the Company’s 2022 annual meeting of stockholders. Glass Lewis has changed its voting recommendation on Proposal 4 from “for” to “against”.

Given this development, I imagine a sensible and rational management team would 1) rescind proposal #4, 2) close the 2022 meeting, and 3) immediately cease all litigation. I could also envision rational independent board members urging their management team and top of board to make things right.

Let’s not hold our breath.

11 thoughts on “14a: Yep, They Flipped

  1. Given this development, a sensible and rational management team would resign in disgrace. But of course that’s not the management team we have, so to handicap what will likely happen next we need to ask ourselves, what would a criminal cabal do under these circumstances?


  2. Double down by:
    – punishing us damn shareholders (especially MS and EO) – maybe even prompting us to say “WTF, I can’t take the insanity any longer” and sell of our positions
    – appealing the court case they are about to lose to incur millions more in legal fees
    – obfuscating the voting dates/processes to keep MS and EO stuck in the muck of the stockholder’s agreement and somehow keeping Barry, Norris and Glover out of jeopardy of being voted out
    – depriving us of a special dividend this year (those profits went up in smoke in legal fees)
    – taking whatever shares they buy back (at the worst possible price points) to sock them away in treasury to hand out as rewards to management and directors at the end of the year


  3. Getting to know our employees I did an Online search for Tyler Glover and found an article “Meet the Shalennials: CEOs under 40 making millions in Texas oil” Bloomberg News | September 12, 2018 | 7:58 am Energy
    Reprinted in Mining.com. Here is a link


    Here is the Tyler Glover part:

    The Land Man While running land and mineral ownership searches for Devon Energy Corp. after graduating from Tarleton State University, Tyler Glover, 33, kept coming across an odd name: Texas Pacific Land Trust.

    Created to pay back creditors of the bankrupt Texas Pacific railway in the 1880s, the trust owns large swaths of land and mineral royalties in West Texas. After more than 100 years of selling off land, the trust was left with areas in Loving, Reeves and Culberson counties that no one wanted to buy.

    It just so happened that this was the core of the Delaware Basin, the western part of the Permian and one of the centers of the shale revolution.

    Glover joined Texas Pacific as a land man in 2011, the youngest person at the company by at least 15 years, he said. Texas Pacific had a market value then of just over $1 billion.

    As the market woke up to the size of the company’s land holdings (a 1 million acre mix of surface and royalty rights), its value has surged to $6.4 billion to make it the best-performing major U.S. oil stock never to have pumped a barrel of crude. Glover is the chief executive officer, historically an administrative role.

    “There is no way anyone could re-create an asset base like this today,” he said. “Because of the value of the land and resources we sit on now, more active management of Texas Pacific is a necessity.”


    Now my question becomes is this a valuable resource we want to try and keep based on his corporate knowledge and experience or a flawed tool to be discarded? What would Machiavelli do?


    • When punched in the face by an adversary the machiavellian would not strike back, instead he would patiently wait for an opportunity, then take his revenge by cutting his adversaries car brake lines. I’m not advocating violence here, just providing an example of how a machiavellian fights back asymmetrically. As for our ethically compromised CEO, the machiavellian would not fire him, instead he would keep his enemy close and use whatever leverage he had to make him his bitch. Although Machiavelli would probably cut the brake lines of the POS BODs. lol.


  4. In the old days in Japan, I think it is called seppuku but that is a bit drastic in the modern United States.


  5. Barry is afraid to go to jail…it sure looks like it. He knows he’s done/on last leg. As well as his high paying dumbass CEO. Keep the posts coming!!!! Onward and upward. Best company in the world!!!! Shoutout to the blog.


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