3 thoughts on “$169MM Purchase”

    • If this is what they say it is, ~13% 2025 free cash flow yield at current strip prices = ~$20mm of FCF valued at TPL’s current multiple = $600-800mm of value creation. Just napkin math but seems like this might be great capital allocation.

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  2. Culberson is mostly gas so the waha basis needs to be taken into account. Also, dealing with Chevron which has had it out for the trust going back decades, for obvious reasons.

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