01—Abstract
Summary
Summary of the 8-K filed June 23, 2026. Cited figures are marked; the original filing is the authoritative source.
Texas Pacific Land Corporation (TPL) announced on June 23, 2026 that it has reached an agreement with Chevron U.S.A.
Inc., a subsidiary of Chevron Corporation, to provide land and brackish water resources for Chevron's recently announced Project Kilby. Project Kilby is a large-scale power generation facility Chevron is developing to support a customer data center in Reeves County, Texas. Under the agreement, TPL contributed surface acreage in exchange for cash consideration and the exclusive right to source aquifer-derived water for the power generation facility and other associated aspects of the project.
CEO Ty Glover said the project validates West Texas as a premier location for compute infrastructure and that TPL is well positioned to support regional growth through its surface footprint, industry relationships, and access to energy and water resources. The filing notes that Chevron has emphasized water stewardship and community engagement, and that TPL intends to supply brackish groundwater to help reduce demand for shared freshwater resources. TPL also states it continues to advance solutions for reuse of desalinated produced water.
The announcement is furnished under Item 7.01 (Regulation FD Disclosure) and is not deemed filed for purposes of Section 18 of the Exchange Act. The filing does not disclose the cash consideration amount or the financial impact of the agreement.
02—Key points
Key Highlights
- TPL agreed with Chevron U.S.A. Inc. to provide land and brackish water resources for Project Kilby, a large-scale power generation facility in Reeves County, Texas
- TPL contributed surface acreage in exchange for cash consideration and the exclusive right to source aquifer-derived water for the power facility and related project aspects
- Project Kilby is designed to support a customer data center, reflecting West Texas positioning as a compute infrastructure hub
- TPL intends to supply brackish groundwater, aiming to reduce demand for shared freshwater resources
- TPL continues to advance solutions for reuse of desalinated produced water from oil and gas operations
- The filing does not disclose the amount of cash consideration or the financial impact of the agreement
- The announcement was furnished under Item 7.01 (Regulation FD Disclosure) with press release Exhibit 99.1
03—Questions
Frequently Asked Questions
What did Texas Pacific Land agree to do with Chevron?
TPL agreed to provide land and brackish water resources for Chevron's Project Kilby, a large-scale power generation facility being developed to support a customer data center in Reeves County, Texas.
What does TPL receive under the agreement?
The filing states that TPL contributed surface acreage in exchange for cash consideration and the exclusive right to source aquifer-derived water for the power generation facility and other associated aspects of the project. The filing does not state the amount of cash consideration.
What water commitments did TPL make?
TPL intends to supply brackish groundwater, which the company says helps reduce demand for shared freshwater resources. TPL also continues to advance solutions for reuse of desalinated produced water from oil and gas operations.
How does management describe the strategic significance of the project?
CEO Ty Glover said the project validates West Texas as a premier location for compute infrastructure and that TPL is well positioned to support regional growth through its leading surface footprint, industry relationships, and access to energy and water resources.
Is the press release considered filed under the Exchange Act?
No. The information in Item 7.01, including Exhibit 99.1, is furnished and shall not be deemed filed for purposes of Section 18 of the Exchange Act, or incorporated by reference into other filings except as expressly set forth.
04—Continue