TPL board member Murray Stahl passes

Texas Pacific Land Corporation (NYSE: TPL) announced that board member Murray Stahl has died, according to a company statement.

Stahl served as Chief Executive Officer, Chairman of the Board and Chief Investment Strategist of Horizon Kinetics Holding Corporation. Through its subsidiaries, Horizon Kinetics is TPL's largest shareholder.

"Murray was a tremendous advocate for TPL from the very day I joined the Company," said Ty Glover, TPL's CEO. "His firm, Horizon Kinetics, along with its predecessors, had been TPL's largest shareholder for many decades."

Glover noted that Stahl supported the company when it was a thinly-traded entity that owned land in west Texas. TPL has since grown into one of the largest publicly-traded energy companies.

Rhys Best, Chairman of TPL's Board, stated the board would be "forever grateful to Murray for his dedication and contribution to TPL."

Texas Pacific Land Corporation owns approximately 882,000 acres of land, with most holdings concentrated in the Permian Basin. The company generates revenue through land use fees, material sales, water services, oil and gas royalties, and saltwater disposal operations rather than direct oil and gas production.

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