Royalty owner Texas Pacific Land Corp. will nominate two new independent directors—Marguerite Woung-Chapman and Robert Roosa—and one current director, Murray Stahl to its board at the company’s annual stockholder meeting, according to an Aug. 1 press release.

Current directors and co-chairs of the board David E. Barry and John R. Norris III have announced their intention to retire and not seek reelection.

Texas Pacific Land is one of the largest landowners in Texas with approximately 874,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. The company is not an oil and gas producer, but its surface and royalty ownership provide revenue opportunities throughout the life cycle of a well.

Woung-Chapman has experience working with companies such as Chord Energy, Summit Midstream Partners and Energy XXI Gulf Coast Inc. Roosa has previously served in positions with Brigham Royalties LLC and Brigham Minerals Inc.

“The Board looks forward to welcoming Marguerite and Robert,” said General Donald Cook, director and chairperson of the nominating and governance committee at Texas Pacific Land Corp. “We believe the company and its shareholders will benefit greatly from their relevant experience and expertise as we continue to execute TPL’s strategy and drive value for our shareholders.”