Texas Pacific Land Trust
The Texas Pacific Land Trust (NYSE: TPL) was created in 1888 in the wake of the bankruptcy of the T&P in order to provide an efficient and orderly way to sell the railway's land, receiving at the time in excess of 3.5 million acres (14,000 km²). As of 31 December 2006 the Trust was still the largest private land owner in the State of Texas, owning the surface estate of 966,392 acres (3,911 km²) spread across 20 counties in the western part of the state. The Trust also generates income from oil & gas royalties through its 1/128 non-participating royalty interest under 85,414 acres (346 km²) and 1/16 non-participating royalty interest under 386,988 acres (1,566 km²).
Read more about this topic: Texas And Pacific Railway
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