Good generating royalties ever, TPL. revenues $XXX easements year and everyone, oil We year generated year was record our a also revenue $XXX and and water its our sales, for revenue. from over best produced and today. only not combined service-related record for previous thank consecutive gas million us royalties, water but had of morning, income joining over of record the million XXXX million. exceeded XXXX by Full you $XXX
$XXX $XXX of the and of and to cash efficiently the through sheet. shareholders of margin adjusted capital over flow. continue back a on million debt year buybacks, convert We we We to cash consolidated achieved full zero and exited as EBITDA year revenue balance with we million into returned dividends XX%
storage by revenue contracted expanding XX% to made production on also company towards increased surface our and legacy our development progress of facilities, signed we the of bitcoin fronts. agreements renewable lot XXXX, other discussions for interesting In our capture, we mining opportunities potential good continue our and on year-over-year. battery a beyond We The business. have carbon
of the expertise were last glad encouraging initiatives, Ozona. to and We've agreement with with month strike capture, impressed to an topic been On reality. and move towards projects see we carbon Ozona's it's closer these
help Our key lay a up and the to the capture as solution chain. the goal part carbon TPL at industry position groundwork is value ourselves to of and scales be
been on executed that opportunity here reflects sand four customers recently conducting sand development. studies Another we've in deposits, the underwrite the our wet in-basin sand feasibility wet identify located working well operators effort separate exploit for to contracts years and acreage. to We on This deposits is by of to of completion geologic to discussions utilizing initiate with team and assess proactively to mines. sand
to basin. would dual also benefit congestion royalty revenue used direct deliver and out compared They These using sourcing the TPL to TPL. potential significantly projects generate acreage, input critical sand and associated benefit from also of in of sourced transported while truck a reducing emissions of development would the
of bpx's Culberson, we bpx, approximately water with providing Delaware streams. in a comprehensive provide Reeves the Loving and offtake facilitate TPL and surface surface Basin, BP, XXX,XXX Yesterday, announced and resourcebase revenue water, across produced This oil source gas access an a while high-quality Counties. subsidiary acres value agreement of will agreement water incremental to across multiple spanning and development
team with Permian worked and for a we're excited long We the time, very have and development. ramp to see BP known them
topics pertinent discussing today TPL. to want to also some I time Permian spend some broader
monitor especially our trend with development continue acreage TPL gas have wells, what's we strategy, detailed owned so in we perspective going experiment course of potential that do on well backyard. operators of optimal the that What First we've is for don't observed do, operate for productivity. is to zones. prospected the declining doesn't our but operators multiple
Trend are one co-development towards seems a multiple opposed zone an within as the to to zones develop then zones. drilling number at to other moving later section, increasing of of first that returning operators be and time a
that, of consistently a for We'd robust resulting note productivity. deploying our large some operators far co-development been have former in well time, quite strategy portion the thus
where In new new acreage continue to and productivity wells performance trend across averaged acreage. well longer. each new XXXX spuds, see first the Fourth continue addition, to our completions permitted new XX,XXX Overall, on strong laterals producing quarter was and our we wells, over feet. quarter
focal between differential One gas point natural Permian coastal price other industry local is and the markets. increasing
are Permian many the capacity gas tight. pipeline of out remains natural aware, As
a independent Some That capacity of relief weaken, repairs. come pipeline year, gas this expansions with private among smaller and see will have started we pricing said, to couple especially and producers. natural realizations
upside for capacity our footprint, TPL takeaway TPL has pursue. Insufficient marginally this negatively for additional the surface it the opportunities checker-boarded revenue, presents midstream realizations Although, given royalty weaker to means to And surface gas on significant infrastructure. impact will vast industry an presents incentive side. easement develop our that new pipeline
business example we revenue potentially our active and with of approach the the that we've This incremental from we gas hedges easements. that than the is into Any lose could here. weaker management benefit built more differentials, offset natural another of
otherwise practice we response are as SRAs. item, handling evolving previous areas, closely response especially the is to watching the water, referred of produced to seismic in Another
Commission these reminder, activity. Railroad As enacted in State to were by response seismic previous the SRAs a
as otherwise saltwater the Among impact into reduction SRAs referred of disposal of was the wells biggest the deep-formation to SWDs. rates injection
As and increase permits much surface. our demand for large have on we've lower in experienced a shallow-formation a SWDs utilization, seen SWD generally concurrently result, deep-formation
of safety. operating and our business, the surface, viability SWD water of helps with limiting third-party This Going to very been also of the keeping our TPL. on infrastructure to inception in on permitting back deliberate we've focus on deep while amount our sustainability preserve
agreement SWDs. royalty agreements TPL acreage produced we in aggregate million stored directly for that West cross operate either Rather, of in a or own approximately have acres that negotiated not surface pays operators various any that does TPL cover are Texas. water TPL's These X.X reiterate to or surface. with Just barrels spanning on use type
contain also water foresight. on interest and operator our as companies indemnification Contracts to accident, protecting the how It's midstream their to strong water testament serves build here team at surface. and skill set all an not this a develop as water and continue infrastructure and business TPL language we for up our TPL,
momentum. although of Looking sustaining to prices XXXX, the do team TPL control a our the positive directly not committed revenues impacts forward commodity to of which large remains portion we direction our
heart resource one world, best the found plays slow prices available to strengthen. of of should when other down development prices ground Our in response anywhere the resource commodity remains in the commodity constraints assets the lower still exploited immense future and are to positioned be in the or and in the in
at reportable one want employees the for safety work here our commitment. thank incidents, to reduced diligent Finally, all and emissions we by I XX%. Scope spills, XXXX, TPL In their zero zero had
flow not industry-leading margins help company but did employees and with cash a mentality. it EBITDA they only stakeholder our did and and revenues, So free safely efficiently the earnings achieve share, consolidated record per record adjusted
call results. the over that, I'll turn to to our With discuss Chris financial
