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TXO Partners, L.P. (symbol: TXO) is a dynamic and growth-oriented independent oil and natural gas company based in Fort Worth, Texas. The company is committed to the acquisition, development, optimization, and exploitation of oil, natural gas, and natural gas liquid reserves across North America.
Founded on a vision of energy independence and sustainability, TXO Partners leverages cutting-edge technology and industry expertise to explore and develop energy resources efficiently. The company’s core business revolves around identifying and acquiring high-potential reserves and then methodically optimizing their production capabilities. This strategic approach ensures a steady increase in both output and value.
TXO Partners has accomplished significant milestones over the years. One of the recent achievements includes the successful acquisition of substantial reserves in key North American regions. The company has also undertaken innovative projects aimed at enhancing the extraction and processing of natural resources, thus positioning itself as a formidable player in the industry.
Financially, TXO Partners maintains a robust and stable footing, ensuring that it can weather market fluctuations while continuing to invest in new opportunities. The company has forged vital partnerships with other industry leaders, allowing for shared expertise and collaborative growth.
TXO’s portfolio includes a diverse range of products, primarily focusing on crude oil, natural gas, and natural gas liquids. These products meet the growing energy demands across various sectors, including residential, commercial, and industrial.
Overall, TXO Partners is dedicated to driving growth and delivering value to its stakeholders through its unwavering focus on operational excellence and strategic investments in the energy sector.
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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