Canadian Natural Resources' slowly declining oil and gas reserves will last many years and give it very steady production. It generates a lot of cash even when markets are tough, has raised its dividend for 26 years in a row, and plans to return 100% of free cash flow to shareholders through dividends and buybacks. x.com 

Texas Pacific Land gets a tailwind for its royalty stream as oil spikes on renewed Iran tensions. The stock fell from about $450 to $375 on fear tied to a headline about a major shareholder, not anything fundamental. Its water-treatment business is a growth story most investors are not yet pricing, with a national-security angle on top. A pullback near $400 would be a buying opportunity. x.com  x.com 

Texas Pacific Land is the ultimate toll booth stock, collecting royalties when others drill on its 900,000 Permian acres while oil companies spend billions drilling wells and fighting decline. Its fast-growing water business also scales with Permian drilling activity, making it a boring bargain that helps investors sleep at night. x.com 

Asset-light businesses that take a cut of every transaction have one of the most powerful business models, pairing low capex and high margins with steady cash flow from royalties and fees. That is the basis for a portfolio of McDonald's, Uber, Texas Pacific Land, Visa, Restaurant Brands International, Marriott, Franco-Nevada, CME Group and Arm, built to test whether such businesses can outperform the market. x.com 

Texas Pacific Land is the best royalty business in the world. x.com 

Texas Pacific Land, Canadian Natural Resources and GTT stand out in energy because they have real competitive advantages in a sector of commodity price-takers. Texas Pacific Land owns land and collects royalties at 90%+ margins with almost no costs. Canadian Natural has decades of reserves and the industry's lowest decline rates, so it can generate cash even when oil prices tank. GTT is a true tech monopoly with 90% of its market: anyone moving LNG by sea pays it. x.com 

LandBridge is one of the most overlooked AI infrastructure plays, since AI data centers need land, power and fiber and it owns over 270,000 acres in the Permian. The land earns recurring lease revenue at 99% gross margins, which could make it a quiet compounder like Texas Pacific Land; the stock is coiling in a tight 20-month base. Converting from a Delaware LLC to a Texas corporation could ease index inclusion and broaden ownership, a positive but not a reason to buy alone. x.com  x.com  x.com  … Show more

Devon Energy trades at 11x earnings and a 12% free-cash-flow yield while set to return roughly 10% of its market cap to shareholders each year. The Coterra merger adds 4,600 Delaware drilling locations, half with sub-$40 breakevens, and $1B of annual synergies on top of an $850M cost program that is 85% done; per-barrel operating costs fell every quarter of 2025. While Big Tech's capex ratios climb toward utility levels, Devon beats production guidance while spending less. x.com