$LB $TPL: West Texas Data Centers

Thoughts on the latest announcement, and implications and considerations for LB and TPL.

Last week there was an announcement of a new data center in West Texas.

The following research note discusses this specific deal, including both the positive and negative implications for LandBridge (LB) and Texas Pacific Land (TPL).

I also go over why more data centers may or may not come to Texas, why LB and TPL are an interesting way to gain potential exposure, the key differences with LB and TPL related to data centers, and other important considerations (such as related parties, competition, valuations, and much more).

I will also start a new thread within the Substack Chat.