Texas Pacific Land, bpx energy reach long-term agreement

Texas Pacific Land (TPL) announced a long-term agreement with bpx energy, a subsidiary of BP P.L.C. (BP), to provide water services and surface access across approximately 270,000 acres in Culberson, Loving, and Reeves Counties, Texas. Under the agreement, TPL will receive dedicated brackish and treated water sales, certain produced water commitments, and access to produced water for commercial treatment, recycling, and reuse. bpx will receive assured long-term access across a substantial portion of TPL’s vast surface acreage for the continued development of oil and gas and associated infrastructure. The alignment of TPL and bpx will enhance opportunities for bpx to efficiently grow production in the Delaware Basin and generate additional water and surface revenue streams for TPL.