Welcome to our dedicated page for Txo Partners news (Ticker: TXO), a resource for investors and traders seeking the latest updates and insights on Txo Partners stock.
TXO Partners, L.P. (TXO) generates frequent news as a master limited partnership focused on conventional oil, natural gas and natural gas liquids in North America. As an exchange-listed production and distribution company, TXO regularly issues updates on its distributions, acquisitions, financing activities and operational plans across key basins such as the Permian Basin, San Juan Basin, Williston Basin and Mancos Shale.
News coverage for TXO often features quarterly distribution announcements, where the board of directors of its general partner declares cash distributions per common unit and provides context on operational performance. These releases may be accompanied by notices for non-U.S. unitholders describing how distributions are treated for U.S. federal income tax withholding purposes.
Another major category of TXO news involves acquisitions and development activity. The partnership has announced agreements to acquire producing oil and gas assets in the Elm Coulee field in the Williston Basin, as well as the closing of such transactions through its subsidiaries and partners. Related updates can include details on expected production additions, proved developed reserves and the strategic fit of new properties within TXO’s long-lived asset base.
TXO also issues news about capital markets and credit facility developments, including underwritten public offerings of common units, the exercise of underwriters’ options and amendments to its senior secured credit facility that adjust the borrowing base or extend maturity. Additional items may cover corporate milestones such as leadership changes or the dual listing of its common units on NYSE Texas alongside the New York Stock Exchange.
Investors following TXO’s news stream can use these updates to monitor distribution levels, acquisition progress, basin focus, financing decisions and governance developments. Bookmarking the TXO news page on Stock Titan allows readers to review a chronological record of press releases and related market disclosures tied to the TXO ticker.
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.
TXO Partners (NYSE: TXO) has declared a second quarter 2024 distribution of $0.57 per common unit, payable on August 27, 2024, to unitholders of record as of August 20, 2024. The company has filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. Chairman and CEO Bob R. Simpson emphasized the company's focus on capital stewardship and accretive value creation. President and CFO Brent Clum highlighted TXO's re-entry into the Greater Williston Basin, expecting the full impact on production and cash flows by the fourth quarter. The company's financial statements will be available on their Investor Relations website and the SEC's website.
TXO Partners, L.P. (NYSE: TXO) has priced its upsized public offering of 6,500,000 common units at $20.00 per unit, raising approximately $122.5 million in net proceeds. The offering size increased from the initially planned 5,000,000 units. Underwriters have an option to purchase an additional 975,000 units. The proceeds are intended to fund part of the cash consideration for acquisitions from Eagle Mountain Energy Partners and a private company. If the acquisitions are not completed, the funds will be used to repay outstanding borrowings and for general partnership purposes. The offering is set to close on June 28, 2024, subject to customary conditions.
TXO Partners L.P. (NYSE: TXO) has commenced an underwritten public offering of 5,000,000 common units of partner interests, with a 30-day option for underwriters to purchase up to an additional 750,000 common units. The proceeds aim to fund part of the cash consideration for asset acquisitions from Eagle Mountain Energy Partners and a private company. If the acquisitions are not completed, proceeds will repay outstanding borrowings under TXO’s revolving credit facility and for general partnership purposes. Raymond James is the sole book-running manager for the offering, made pursuant to an effective shelf registration statement filed with the SEC.
TXO Partners announced the acquisition of assets in the Elm Coulee field, Montana, and the Russian Creek field, North Dakota, for $243 million and 2.5 million TXO common units. The assets, purchased from Eagle Mountain Energy Partners and a private company, will add approximately 4,500 daily barrels of oil equivalent production and 17,000 Mboe of Proved Developed reserves. The transactions, expected to close in Q3 2024, aim to enhance TXO's cash flow and distributions. CEO Bob R. Simpson highlights the strategic fit and potential high returns, while CFO Brent Clum emphasizes the assets' alignment with TXO's capital allocation strategy.
TXO Partners, L.P. (NYSE: TXO) declared a distribution of $0.65 per common unit for the first quarter of 2024, showcasing strong performance in the energy sector. The quarterly distribution will be paid on May 29, 2024. TXO continues to focus on managing cash flow effectively, maintaining a long-term vision and allocating capital to high-return areas within its portfolio. With a $25 million development budget aimed at flat production in 2024, the company remains poised for growth as commodity prices improve.
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