Texas Pacific Land rises on data center deal with Bolt Data & Energy

Shares of Permian Basin-focused land and royalty company Texas Pacific Land TPL.N gain 4.7% to $857.92 in afternoon trade

Co enters agreement with data and energy infrastructure firm Bolt Data & Energy to develop and enable large-scale data center campuses and supporting infrastructure across TPL land

Says Bolt will raise $150 million in capital as part of agreement, with $50 million invested by TPL

TPL will receive an equity interest, warrants, and a right of first refusal to supply water to Bolt-affiliated projects and related infrastructure - Co

Including session's moves, TPL down ~22% YTD