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 LP (TXO) is an independent energy company focused on acquiring and optimizing oil, natural gas, and NGL assets across North America. This page aggregates all official announcements and market developments related to the company's operations.
Investors and industry professionals will find timely updates on earnings reports, strategic acquisitions, operational milestones, and regulatory filings. The curated collection provides both high-level overviews and technical insights into TXO's upstream exploration activities and asset management strategies.
Key content categories include press releases covering reserve acquisitions, quarterly financial results, partnership announcements, and technology-driven production enhancements. This resource is particularly valuable for tracking TXO's approach to balancing operational efficiency with long-term reserve sustainability.
Bookmark this page for streamlined access to verified information from TXO Partners LP and trusted financial sources. Check regularly for objective updates supporting informed analysis of the company's position in the energy sector.
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.
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.
