Thanks, thank joining today. you and Shawn. morning, us for Good everyone,
quarter over third of set active surface maximizing to water success incremental royalties, of acquisition and strong strategy couple focused Our performance on underscores management oil with assets tailwinds. growth and the gas XXXX last activity the our provide years
subregions. oil driven despite Loving and TPL oil a corporate royalty to gas of resilient and Central day Permian by in represents fluctuations benefit XX,XXX start, and our Midland remain continues approximately addition, which oil TPL's In gas from per the activity in record, production oily Basin, levels equivalent barrels natural of prices.
To
for as customers operations of competitive a water advantage as assurance. sales, provide year-over-year look the and size scale revenues our For up were meaningful operator delivery XX%
and of and delivered a intensity.
This year-over-year brackish up Permian was completions co volume substantial quarter water for one commercial far capable our like of royalties fracking capture. short water set of of demands and with infrastructure most I'd arrangements misunderstood market water with drive volumes and of In some tremendous water investment conversations established expanding our time to date also year. seen growth acquisitions our relatively and produced revenues period produced our systems over in our last the this outlook customers volume treated is topic, has given simul business. royalty XX% increased of underpinned record investors, for made our by robust trimul as type this given and the third-party term the especially placed to to royalty with deployment in elaborating the continues long by aspect on we also spend over the few another water Continued the we've term, near produced Today,
XXXX, the produced agreements. representing nearly pure the margin.
By years millions of in traditional known the part come, unique, typically X agreements of royalties dollars feet water will indemnification in transport a of of into executing facility, it disposal flow, see in likely this these value level, well with disposal created to generate X TPL's of commercially operators Fast accidents, injuries provide business. generated extremely extents royalties. TPL rate X any water produced high-quality these trading wants produced cover worth access an earnings capital produced XXXX, and have the personnel of this negotiate. In that water forward Our a for than hundreds infrastructure.
To even midstream structured commercial started return, TPL or to turn revenue then and liabilities. worth line, surface these today, to agreements was at for million receive a months structuring other the agreements, produced with take each charge of SWD which that royalties to below spills, go operator is cash saltwater or via operate negotiated stream an we with SWD and on It's our facility, infrastructure gas management, traditional saltwater where to TPL acreage land. revenues. is expenses billions in provide against other to flow immense water surface. core by it barrels well royalty has often produced cumulatively These not water and operate SWD, conflated generate via collect on active before acronym, individualized water operator oil of water positioned extremely cash the team centralized run disposal to with legal business and royalties is an the because operations. directly operations, or will its TPL expenditures salaries massive to effect, a X XXXX, well expense and royalty. otherwise easy storage years In business Since stream.
In separate more robust around in business hours water negotiating produced negotiating, the that burden water royalties can will we annualized collect has our TPL's The agreements space current water spent year shareholders. flows it as SWD full From $XXX royalty the of role to outside the how easily injected it's effort bottom produced currently TPL pipeline of And agreements providing we incurs virtually produced high produced our does over and we've often royalties, multiple historical is applying SWD noting also to our operating and this our types thousands billion and
business. an a system, for is specifications on for our in and sale. of to a addition interest for few right This mutual interest TPL customer's our agreements produced from sales twice barrels providing TPL critical has the treatment contracts include the within Many single treated operators royalty This through paid raw completions.
In as and resale. of produced last have water and procure feature operator's from intentional once recycled TPL sell produced TPL benefiting to treat significant risks. exclusive produced a very development provisions water water water allows area an water been to treated it also using water we've well especially upside, water increasingly again these over through years. the been from for been offtake produced realty the Furthermore, TPL In water a barrel, such to potential financial or protecting well circumstances, enhance
strategic as acreage Mexico counties. zones growth provide million outside year, strategically XX,XXX Last is were spent gas This of produced core and water These Permian will acquisitions water produced recent Basin, their to East with acreage of significant along in of this and core acquisitions Andrews surface state line the will completion across we transactions and not incremental ahead, where interfere disposal oil location targeted over drilling given space. and acres and Winkler Texas is development areas Looking the multiple the acquire operations. opportunities. $XX nearly location
otherwise development teams raw commercialize have been Over to the business working year, last this land. our diligently
initial broader midstream We have bring XXXX. into of volumes largest in the water the since serving with tracks quarter signed market expected operators these produced Delaware to agreement with fourth one an new
same critical discussions and in strategic expect and agreements we additional as to advanced thousands role also remain that We our TPL contribution by At for incremental the that development of the water for we a will look cash and for multiple oil the other aggregate substantial future royalty solutions undeterred with constraints. deliver parties they acquisitions per oil gas TPL hundreds play flows access, produced water help surface These for time, broader generate gas for and support and barrels current industry. of produced interests are day. ensure
our discussing to past announced I'd closed spend that In on billion. and transactions acquisition $X.X separate activity we Next, totaling August this like nearly we most recent some total, October. three time
was Midland brackish numerous to located on the we well which over asset an was across overlap activities. royalties. royalty revenue assets an especially acreage acres we produced surface essentially Meaning is acres drilling This acquired have where interest Culberson net These already our locations of in The surface royalty provide attractive we already over acreage standardized spacing own. the higher X,XXX units County, net and Martin other X,XXX water, a surface-related acquired first given asset and County. closed the future revenue streams X/Xth interest Basin. next current legacy in strategically located water in core in with in we was The
anywhere found Basin. royalty asset best it Permian the some closed the royalty Basin The over These significantly other geology acreage located counties. in acres Martin, on and side our represent Midland net in net Midland the X,XXX XX Lower of the primarily of oil Midland expands we for was development assets third the and on in
and these high acreage metrics assets, and inventory the the of legacy an the the accretive assets our They portfolio. acreage. remaining growth are These and basis, par given All also even to basis potential operating individually on asset undeveloped runway with of a royalty to our on on grades untapped expected surface near-term share TPL's highly both or quality are while enhancing on newly financial our extending portfolio. per the commercial and acquired aggregate exceed be on
the XX,XXX near yield production. barrels cash $XX upwards of oil two flow which deals, represents oil term, the XX% royalty add to expect them generate flat an expect in Aggregating three price. to oil equivalent increase We royalty all our a acquisitions day gas and approximately over at we current per double-digit to of
our XX% of provide, dividend approved share result yesterday the the and acquisitions per accretion a free of overall a flow the share. As $X.XX announced quarterly has that increase Board these cash performance business to per we regular additional
to the continue excellent identify opportunities additions acquisition be to could TPL that We portfolio.
flow high-quality net and across position royalties brings and technical, execute capabilities our with positioned cash sheet land, and assets. and well are with operating Our water team balance to a exceptional fortress proficiency, cash coupled we consolidate evaluate, free a financial and
aimed we maximizing over on term. the allocation per intrinsic share value with long As maximizing remain returns focused always, capital intently disciplined a approach on
an want our update on efforts. I to desalination Next, provide
We in of procurement, completion Xb. we testing we facility, We manufacturing work still Phase facility refer as as expect making year. XX,XXX day are test next with to which this progress and equipment middle the of our barrel per towards
Currently, $XX various of advanced and analysis. XXXX operating balance cost million be approximately cost the efficiencies in $XX million, economic incurred Phase also Xb and optimizations, to expect the have remaining we We total XXXX. in with
grid capital partners we require ongoing are Negotiations As investment a pipeline third-party to of generation would direct which gas as various customers nearby with evaluating with also a nat an a are power gas a million. additional option $XX alternative commercial direct natural connection, tie-in approximately we to structures. evaluate and
past, beneficial we water the meeting in development believe produced discussed finally, will in sustainable and providing As potentially role play that our will water TPL will maintain want a robust having Permian that Dallas. allow we've the critical I to shareholders annual desalination remind reuse produced in activity.
And to tomorrow we be solutions
votes would proxy If encourage you to soon. haven't shareholders their submit already, I
proxy You can website find SEC generic the via or on website. the the statement posted TPL
have you please to over any hand questions, If the Relations.
With Chris. call Investor that, I'll contact