Texas Pacific Land Trust manages, sells and leases land throughout the Lonestar State. Based in Dallas, it retains oil and gas royalties and has cash investments. Texas Pacific Land Trust s history dates back to the 1880s. The trustees are empowered to use the lands and the proceeds of sale of the lands, either to pay dividends to the certificate holders or to buy in and cancel outstanding certificates. Texas Pacific Land Trust s properties total nearly 1 million acres in counties throughout western Texas. It also owns a nonparticipating perpetual oil and gas royalty interest under 85,414 acres of land and a nonparticipating perpetual oil and gas royalty interest under 386,988 acres. Texas Pacific Land Trust is a publicly traded company listed on the New York Stock Exchange under the symbol TPL.