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Texas Pacific Land Corp's 2023 10-K reveals resilient performance despite a 5 point 4 percent revenue decline to 631 point 6 million dollars from lower oil prices, with net income at 405 point 6 million dollars. Royalties fell 21 percent, but water services grew 24 point 3 percent to 199 point 5 million dollars. Strong liquidity with 725 point 2 million dollars cash, no debt, and focus on Permian Basin assets highlights diversification and low-capex strategy. Risks include price volatility and regulations.

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