Why These Energy Stocks are Gaining This Week

4. Texas Pacific Land Corporation (NYSE:TPL)

Share Price Gains Between Dec. 12 and Dec. 19: 7.18%

Texas Pacific Land Corporation (NYSE:TPL) owns and manages about 868,000 acres in the Permian Basin. The company generates revenues along the entire value chain of oil and gas development, including royalties, water resources, surface leases, easements, and materials.

Texas Pacific Land Corporation (NYSE:TPL) formally entered the booming data center business on December 17 when the company announced a strategic agreement with Bolt Data & Energy to develop large-scale data center campuses and supporting infrastructure across its land. Bolt is a data and energy infrastructure firm co-founded by Eric Schmidt, former CEO and chairman of Google. As part of the deal, Bolt has raised $150 million in capital, with TPL investing $50 million. Moreover, TPL will receive an equity interest, warrants, and a right of first refusal to supply water to Bolt-affiliated projects.

Ty Glover, CEO of Texas Pacific Land Corporation (NYSE:TPL), commented:

“We believe West Texas has the attributes necessary to become one of the largest concentrations of AI compute infrastructure globally, and combined with TPL’s ownership of nearly one million acres, our collaboration with Bolt is designed to help realize that opportunity. Bolt’s leadership, relationships, and proven experience in building transformative technology platforms make them an ideal partner for TPL.”