Txo Partners Stock Price, News & Analysis

TXO Partners (NYSE: TXO) announced the successful full exercise of the underwriters' option to purchase an additional 1,750,000 common units at $15.00 per unit. The company expects to receive net proceeds of approximately $23.9 million after deducting underwriting discounts and commissions.

The proceeds will primarily fund part of the cash consideration for the previously announced White Rock Energy asset acquisition. If the acquisition is not completed, the funds will be used to repay outstanding borrowings under TXO's revolving credit facility and for general partnership purposes. The offering is being managed by joint book-runners including Raymond James, Stifel, Capital One Securities, Mizuho, and Texas Capital Securities.

TXO Partners (NYSE: TXO) has priced its public offering of $175 million common units, consisting of 11,666,667 units at $15.00 per unit. The underwriters have an option to purchase an additional 1,750,000 units. TXO expects to receive net proceeds of approximately $165.3 million after deducting underwriting costs.

The proceeds will primarily fund the cash consideration for the previously announced asset acquisition from White Rock Energy, LLC, a Quantum Capital Group portfolio company. If the acquisition doesn't close, proceeds will be used to repay outstanding revolving credit facility borrowings and general partnership purposes. The offering, expected to close on May 15, 2025, is being managed by Raymond James, Stifel, Capital One Securities, Mizuho, and Texas Capital Securities.

TXO Partners (NYSE: TXO) has announced the commencement of an underwritten public offering of $175 million of common units representing limited partner interests. The company will grant underwriters a 30-day option to purchase an additional $26.25 million of common units.

The proceeds will primarily fund a portion of the cash consideration for the previously announced asset acquisition from White Rock Energy, a Quantum Capital Group portfolio company. If the acquisition doesn't materialize, the funds will be used to repay outstanding borrowings under TXO's revolving credit facility and general partnership purposes.

The offering is being managed by joint book-runners including Raymond James, Stifel, Capital One Securities, Mizuho, and Texas Capital Securities.

TXO Partners (NYSE: TXO) has announced a significant acquisition in the Elm Coulee field of the Williston Basin, entering into a $350 million purchase agreement with White Rock Energy. The deal includes a $70 million deferred payment and involves partnership with North Hudson Resource Partners, bringing the total transaction value to $475 million. The acquisition will add approximately 6,800 daily barrels of oil equivalent production (93% liquids) and 25,000 Mboe of Proved Developed reserves. The transaction, expected to close in Q3 2025, will establish TXO as a leading oil producer in the Elm Coulee field, which contains an estimated 4 billion barrels of oil in place. The deal complements TXO's previous acquisition in the same field and will result in a combined productive area of over 190,000 acres.

TXO Partners has announced a quarterly distribution of $0.61 per common unit for Q1 2025, payable on May 23, 2025, to unitholders of record as of May 16, 2025. The company, which operates across the Permian, San Juan, and Williston basins, emphasized its commitment to maintaining stable distributions and a disciplined balance sheet amid market uncertainties. Co-CEOs Gary D. Simpson and Brent W. Clum highlighted the company's focus on managing high-margin properties and prudent capital investments despite commodity price fluctuations. The company's financial statements will be available in their Q1 2025 Form 10-Q filing with the SEC.

TXO Partners (NYSE: TXO) announced significant leadership changes effective April 1, 2025. Bob R. Simpson will retire as Chief Executive Officer while maintaining his position as Chairman of the Board of Directors. The company will transition to a co-CEO structure with the promotion of two internal executives.

Gary D. Simpson, current President of Production and Development, and Brent W. Clum, current President of Business Operations and CFO, will be elevated to Co-Chief Executive Officers. Gary Simpson will also join the Board of Directors, while Clum will continue his existing roles as President of Business Operations, CFO, and Director.

The transition represents a strategic move to ensure continuity in leadership, with both incoming Co-CEOs bringing extensive experience and maintaining their current responsibilities alongside their new roles.

TXO Partners has declared a Q4 2024 distribution of $0.61 per common unit, payable on March 21, 2025, to unitholders of record as of March 14, 2025. The company has delivered total distributions of $4.49 per unit since its January 2023 IPO and is targeting distributions exceeding $2.45 per unit for the upcoming year.

The company's development strategy spans across the Permian, San Juan, and Williston Basins, with identified potential resources of over 50 million barrels of oil and 3 Tcfe of natural gas in the Mancos Shale position. Development activities include CO2 expansion, waterflood enhancements, and drilling programs aimed at production and reserve stability.

TXO Partners (NYSE: TXO) has announced significant natural gas potential in its Mancos Shale operations within the San Juan Basin. The company holds a 58,500 contiguous-acre position with an estimated 3 TCFE of natural gas potential, potentially representing five times their current total reserve base.

The company has identified a tactical 3,520-acre block as Phase I for development, representing about 6% of their Mancos position. This initial phase is estimated to hold 200-300 Bcf of natural gas, with approximately 25 Bcfe estimated per drill well, potentially doubling their existing natural gas reserves.

Key advantages include water rights, company-owned surface & SWD facilities, and optionality for gas gathering systems. The acreage is held by production with no leasehold expiration dates, allowing TXO to develop and monetize at an economically opportune time.

TXO Partners has declared a quarterly distribution of $0.58 per common unit for Q3 2024, payable on November 22, 2024, to unitholders of record as of November 15, 2024. The company announced leadership changes with Gary D. Simpson becoming President of Production and Development, and Keith Hutton assuming the role of Executive Vice President. Following the acquisition of Williston Basin assets in late August, management expects positive economic returns in upcoming quarters. The company projects capital expenditures of approximately $20 million, with future spending focused on properties in Texas, New Mexico, and Montana.