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Quarterly report pursuant to Section 13 or 15(d)

Real Estate Activity

v3.24.3
Real Estate Activity
 9 Months Ended
Sep. 30, 2024
Real Estate [Abstract]
Real Estate Activity Real Estate Activity
As of September 30, 2024 and December 31, 2023, TPL owned the following land and real estate (in thousands, except number of acres):
September 30,
2024		 December 31,
2023
Number of Acres Net Book Value Number of Acres Net Book Value
Land (surface rights) (1)
798,991 $ — 798,999 $ —
Real estate acquired 74,124 142,727 69,447 130,024
Total real estate 873,115 $ 142,727 868,446 $ 130,024
(1)Real estate assigned through the Declaration of Trust.
Land Acquisitions

During the nine months ended September30, 2024, we acquired 4,120 acres in a business combination with a fair value of $12.1 million and 640 acres of land for an aggregate purchase price of $1.0 million. See further discussion of the business combination at Note 3, “Assets Acquired in a Business Combination.” During the nine months ended September 30, 2023, we acquired 12,141 acres of land for an aggregate purchase price of $20.0 million.

Land Sales
For the nine months ended September30, 2024, we sold 91 acres of land for an aggregate sales price of $2.1 million. For the nine months ended September 30, 2023, we sold 18,061 acres of land for an aggregate sales price of $6.8 million.