Texas Pacific Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Real Estate Activity

Real Estate Activity

3 Months Ended

Mar. 31, 2020

As of March 31, 2020 and December 31, 2019, the Trust owned the following land and real estate (in thousands, except number of acres):


	March 31, 2020				December 31, 2019
	Number of Acres	Net Book Value		Number of Acres	Net Book Value
Land (surface rights)	849,826	$	—	849,856	$	—
Real estate acquired	52,687	110,965		51,931	107,075
Total real estate situated in 19 counties in Texas	902,513	$	110,965	901,787	$	107,075

No valuation allowance was necessary at March 31, 2020 and December 31, 2019.

Land Sales

For the three months ended March 31, 2020, the Trust sold approximately 30 acres (Pecos County) of land in Texas for an aggregate sales price of approximately $0.9 million, an average of approximately $30,000 per acre.

For the three months ended March 31, 2019, the Trust sold approximately 21,251 acres (Loving, Culberson, Hudspeth and Reeves Counties) of land in Texas for an aggregate sales price of approximately $103.6 million, an average of approximately $4,876 per acre.

Land Acquisitions

For the three months ended March 31, 2020, the Trust acquired approximately 756 acres (Culberson and Reeves Counties) of land in Texas for an aggregate purchase price of approximately $3.9 million, an average of approximately $5,134 per acre.

For the three months ended March 31, 2019, the Trust acquired approximately 11,702 acres (Culberson and Reeves Counties) of land in Texas for an aggregate purchase price of approximately $47.2 million, an average of approximately $4,033 per acre.