TPL - Texas Pacific Land Milestone Carbon to team on carbon sequestration study

Texas Pacific Land (NYSE:TPL) said Wednesday it signed a letter of intent with Milestone Carbon to evaluate acreage owned by TPL to determine if it could be used for sequestering captured carbon dioxide. Milestone Carbon will perform the evaluation, which will cover 21K acres in the Permian Basin, and if successful potentially could develop the acreage for a carbon capture and sequestration project. Texas Pacific Land (TPL) owns ~880K acres of land in west Texas, mostly in the Permian Basin. "Carbon capture can be a key tool in the quest for 'net zero,' and TPL's expansive surface footprint could potentially serve as a key resource to permanently sequester carbon," CEO Tyler Glover said. Texas Pacific Land (TPL) is "the best business most investors have never heard of," Fund Letter Stock Ideas writes in an analysis published on Seeking Alpha.

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Texas Pacific Land, Milestone Carbon to team on carbon sequestration study