Latest news with #TXO
Business Wire
22-05-2025
- Business
- Business Wire
TXO Partners Announces Dual Listing on NYSE Texas
FORT WORTH, Texas--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ('TXO') announced today a dual listing of its common units on NYSE Texas Inc. ('NYSE Texas'), the newly launched, fully electronic equities exchange headquartered in Dallas, TX. TXO will maintain its primary listing on the New York Stock Exchange (the 'NYSE') and will trade under the same ticker symbol, 'TXO,' on NYSE Texas. 'The founders of TXO have a relationship with the NYSE dating back to 1980, with six listed companies over the last forty-five years,' stated Gary D. Simpson, Co-Chief Executive Officer. 'This new venture is a bold initiative for the exchange and TXO Partners in our home state.' Brent W. Clum, Co-Chief Executive Officer and Chief Financial Officer, commented, 'We are excited to support the launch of the NYSE Texas as a Founding Member. Fort Worth-based TXO Partners is Texas proud as a unique production and distribution company within the energy sector.' 'We are pleased to welcome and list TXO Partners as Founding Members of NYSE Texas,' said Chris Taylor, Chief Development Officer, NYSE Group. 'As pioneers in the energy space, this listing cements both TXO's and NYSE's support for the innovation in capital markets across Texas and we thank Gary, Brent and the TXO team for their continued support of our world-class offerings.' About TXO Partners, L.P. TXO Partners, L.P. is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. TXO's current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico and Colorado and the Williston Basin of Montana and North Dakota. Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the words such as 'possible,' 'if,' 'will,' 'expect,' 'project,' 'budget,' and similar expressions, although not all forward-looking statements contain such identifying words. These forward-looking statements represent TXO's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, and they are subject to risks, uncertainties and other factors, many of which are outside of TXO's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Yahoo
21-05-2025
- Business
- Yahoo
North Hudson Fuels Non-Op Strategy with TXO Deal, $344MM PE Raise
North Hudson Resource Partners is advancing its non-operated strategy in the Williston Basin and beyond. The Houston-based private equity firm closed a fifth non-op fund, North Hudson Production Partners V LP, with $344 million in equity commitments, the firm said May 20. The firm has $1.4 billion in assets under management after the latest closing. The new fundraising announcement follows closely on the heels of an approximately $125 million acquisition in the Williston Basin last week. North Hudson teamed up with TXO Partners LP to acquire Quantum Capital Group-backed White Rock Energy's Elm Coulee assets in North Dakota and Montana for a total of $475 million. North Hudson also has a growing operated strategy. The firm owns LOGOS Resources, among the most active horizontal developers in the San Juan Basin gas play. RELATED Exclusive: PE Firm's Fourth Non-op Fund Targets Permian North Hudson's fifth non-op fund will target acquisitions in the U.S. and Canada, typically ranging between $1 million to over $150 million. But the firm won't rule out large-scale M&A. The firm is pursuing drilling partnerships, joint-bid acquisitions with public and private operators and opportunities to acquire AFEs, acreage, minerals and PDP assets. In the Lower 48, North Hudson currently has interests in the Haynesville and Utica shales and the Permian, Williston, Denver-Julesburg (D-J) and San Juan basins. The firm also has holdings in Canada. North Hudson's latest deal in the Elm Coulee Field is an example of the growing non-op joint-bid acquisition strategy. North Hudson acquired a 30% non-op stake in the White Rock assets, while TXO picked up the 70% controlling interest. The Elm Coulee acquisition is expected to close in the third quarter. The acquisition adds 6,800 boe/d (93% liquids) and proved reserves of 25 MMboe net to TXO, the company said May 13. Production volumes net to North Hudson were not disclosed. It's a historic part of the Williston Basin: On May 26, 2000, the first stimulated horizontal oil well targeting the middle Bakken Formation was landed in Elm Coulee, marking the beginning of the modern Bakken play. 'We believe our significant asset base, which includes over 1,600 horizontal non-operated wells, in addition to our transaction history and network, have made us an effective partner for operators and working interest owners seeking a partner to enhance their assets,' said North Hudson Managing Partner Mark Bisso. Other non-op players, such as Northern Oil & Gas (NOG), are inking similar joint-bid acquisitions with larger operators. NOG has teamed up with publics SM Energy, Vital Energy and Earthstone Energy on Permian and Uinta Basin transactions. RELATED Laying in Wait: San Juan's 'Remarkable' Mancos Shale Oil Wells North Hudson owns LOGOS Resources, the fourteenth-largest natural gas producer in New Mexico. LOGOS produced over 68 Bcf (gross) in New Mexico in 2024, or an average of around 186 MMcf/d, according to state data. LOGOS is the second-largest San Juan gas producer behind Hilcorp Energy, which acquired ConocoPhillips' legacy assets in the basin in 2017. SIMCOE is the third-largest San Juan gas producer and operates a gas asset previously held by supermajor BP. SIMCOE was acquired by German investment firm IKAV in 2020. LOGOS is also expanding drilling into the Colorado side of the basin, Bisso told Hart Energy. The company recently finished drilling its first horizontal gas well in Colorado and plans to drill two additional horizontals this year. Elevated commodity prices are expected to drive increased drilling activity in natural gas basins across the country. Henry Hub forward prices averaged $4.07/MMBtu over the next 12 months; 24-month strip averages $4.13/MMBtu as of May 20. San Juan producers can capture healthy premiums over Henry Hub prices by moving gas to West Coast markets. Western U.S. gas producers are also excited about future demand from new LNG export projects on Mexico's Pacific coast. RELATED The Wall: Uinta, Green River Gas Fills West Coast Supply Gaps Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
TXO Partners, L.P. Announces Full Exercise and Closing of Underwriters' Option
FORT WORTH, Texas, May 19, 2025--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ("TXO") today announced the full exercise of the underwriters' option to purchase an additional 1,750,000 of our common units representing limited partner interests in TXO (the "common units") at a price to the public of $15.00 per common unit, less underwriting discounts and commissions. The exercise of the underwriters' option closed on May 19, 2025. TXO expects to receive net proceeds of approximately $23.9 million from this option exercise, after deducting underwriting discounts and commissions. TXO intends to use the net proceeds from the option exercise to fund a portion of the cash consideration for the previously announced asset acquisition from White Rock Energy, LLC, a portfolio company of Quantum Capital Group (the "Acquisition"). Pending the closing of the Acquisition, and in the event that the Acquisition is not completed, the proceeds from the option exercise will be used to repay the outstanding borrowings under TXO's revolving credit facility and for general partnership purposes. Raymond James and Stifel are acting as joint book-running managers for the offering. Capital One Securities, Mizuho, and Texas Capital Securities are also acting as joint book-running managers for the offering. The offering is being made pursuant to a combined prospectus with respect to two effective shelf registration statements, filed by TXO with the Securities and Exchange Commission ("SEC"). The offering of these securities may be made only by means of the prospectus supplement and the accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. When available, a copy of the prospectus supplement may be obtained from any of the following sources: Raymond James & Associates, Inc. Attention: Syndicate 880 Carillon Parkway St. Petersburg, Florida 33716 Telephone: (800) 248-8863 Email: prospectus@ Stifel, Nicolaus & Company, Incorporated Attention: Syndicate Department 1201 Wills Street, Suite 600 Baltimore, Maryland 21231 Telephone: (855) 300-7136 Email: syndprospectus@ Capital One Securities, Inc. Attention: ECM Syndicate Operations 201 St. Charles Avenue, Suite 1830 New Orleans, Louisiana 70170 Telephone: 800-666-9174 Email: cos-operations@ Mizuho Securities USA LLC1271 Avenue of the Americas 3rd Fl.,New York, New York 10020Attn: Equity Capital Markets Email: US-ECM@ TCBI Securities, Inc., doing business as Texas Capital Securities Attention: Prospectus Department 2000 McKinney Avenue, 7th Floor Dallas, Texas 75201 Telephone: (866) 355-6329 Email: prospectus@ You may also obtain these documents for free when they are available by visiting EDGAR on the SEC website at Important Information This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. About TXO Partners, L.P. TXO Partners, L.P. is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. TXO's current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico and Colorado, and the Williston Basin of Montana and North Dakota. Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the words such as "possible," "if," "will" and "expect" and contain statements regarding the size, timing or results of the offering and the proposed Acquisition. These forward-looking statements represent TXO's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, and they are subject to risks, uncertainties and other factors, many of which are outside of TXO's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, TXO does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for TXO to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements discussed in "Risk Factors" in our prospectus supplement, the Registration Statements on Form S-3, our Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Reports on Forms 10-Q filed with the U.S. Securities and Exchange Commission and our other filings with the SEC. These risks include, but are not limited to, our ability to consummate the proposed Acquisition on the terms currently contemplated, and satisfaction of customary closing conditions related to the proposed Acquisition. The risk factors and other factors noted above could cause its actual results to differ materially from those contained in any forward-looking statement. You are cautioned not to place undue reliance on these forward-looking statements. View source version on Contacts TXO PartnersBrent W. ClumCo-CEO & CFO817.334.7800ir@
Business Wire
19-05-2025
- Business
- Business Wire
TXO Partners, L.P. Announces Full Exercise and Closing of Underwriters' Option
FORT WORTH, Texas--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ('TXO') today announced the full exercise of the underwriters' option to purchase an additional 1,750,000 of our common units representing limited partner interests in TXO (the 'common units') at a price to the public of $15.00 per common unit, less underwriting discounts and commissions. The exercise of the underwriters' option closed on May 19, 2025. TXO expects to receive net proceeds of approximately $23.9 million from this option exercise, after deducting underwriting discounts and commissions. TXO intends to use the net proceeds from the option exercise to fund a portion of the cash consideration for the previously announced asset acquisition from White Rock Energy, LLC, a portfolio company of Quantum Capital Group (the 'Acquisition'). Pending the closing of the Acquisition, and in the event that the Acquisition is not completed, the proceeds from the option exercise will be used to repay the outstanding borrowings under TXO's revolving credit facility and for general partnership purposes. Raymond James and Stifel are acting as joint book-running managers for the offering. Capital One Securities, Mizuho, and Texas Capital Securities are also acting as joint book-running managers for the offering. The offering is being made pursuant to a combined prospectus with respect to two effective shelf registration statements, filed by TXO with the Securities and Exchange Commission ('SEC'). The offering of these securities may be made only by means of the prospectus supplement and the accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. When available, a copy of the prospectus supplement may be obtained from any of the following sources: You may also obtain these documents for free when they are available by visiting EDGAR on the SEC website at Important Information This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. About TXO Partners, L.P. TXO Partners, L.P. is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. TXO's current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico and Colorado, and the Williston Basin of Montana and North Dakota. Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the words such as 'possible,' 'if,' 'will' and 'expect' and contain statements regarding the size, timing or results of the offering and the proposed Acquisition. These forward-looking statements represent TXO's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, and they are subject to risks, uncertainties and other factors, many of which are outside of TXO's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, TXO does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for TXO to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements discussed in "Risk Factors" in our prospectus supplement, the Registration Statements on Form S-3, our Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Reports on Forms 10-Q filed with the U.S. Securities and Exchange Commission and our other filings with the SEC. These risks include, but are not limited to, our ability to consummate the proposed Acquisition on the terms currently contemplated, and satisfaction of customary closing conditions related to the proposed Acquisition. The risk factors and other factors noted above could cause its actual results to differ materially from those contained in any forward-looking statement. You are cautioned not to place undue reliance on these forward-looking statements.
Yahoo
14-05-2025
- Business
- Yahoo
TXO Partners, L.P., Announces Entry Into Definitive Agreement for Additional Elm Coulee Properties
FORT WORTH, Texas, May 13, 2025--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ("TXO") announced today that it has entered into a purchase agreement with White Rock Energy, LLC ("White Rock"), a portfolio company of Quantum Capital Group, to purchase producing assets in the Elm Coulee field in the Williston Basin of Montana and North Dakota. The total cash consideration by TXO will be approximately $350 million, subject to customary purchase price adjustments. Of this purchase price, $70 million will be deferred and payable one year after the initial closing. The agreement was signed in partnership with North Hudson Resource Partners LP ("North Hudson"), whose affiliates will acquire a 30% non-operated interest in the White Rock assets. Together with the interests to be acquired by North Hudson, the total consideration for the acquisition of White Rock's Elm Coulee properties is $475 million based on a May 1, 2025, effective date. "This transaction is the perfect complement to our initial acquisition in the prolific Elm Coulee field of Montana last year," commented Brent Clum, Co-Chief Executive Officer. "Importantly, the strong well economics and our development plan, even with the lower oil prices, provide a pathway for healthy economic returns. We remain focused on the long-term value creation and distribution strategy for our owners with a disciplined allocation of our capital. These Williston Basin properties deliver growth, compelling margins and long-term visibility." "With this acquisition, TXO will become a leading oil producer in the Elm Coulee field, and for all the right reasons," stated Gary D. Simpson, Co-Chief Executive Officer. "The Elm Coulee field's rich resource base of an estimated 4 billion barrels of oil in place presents a significant target. The producing wells reflect top-notch margins across the oil industry. The horizontal drilling and completion techniques continue to enhance overall reservoir recovery. With more than 190,000 combined productive acres, we will be focused and diligent in delivering long-term production with a low-decline profile. Overall, this is great rock for a great future with TXO." This transaction is expected to close in the third quarter of 2025, subject to satisfaction of customary closing conditions. If consummated, the transaction is expected to add approximately 6,800 daily barrels of oil equivalent production (~93% liquids) to TXO and Proved Developed reserves of approximately 25,000 Mboe, as of April 30, 2025, as determined by Cawley, Gillespie & Associates, using SEC pricing. TXO's counsel in connection with the acquisition and partnership with North Hudson is Kelly Hart & Hallman, LLP and Latham & Watkins LLP, respectively. North Hudson's counsel on this transaction is Gibson, Dunn & Crutcher LLP. Jefferies LLC served as financial advisor to White Rock and Vinson & Elkins LLP served as legal counsel to White Rock. About TXO Partners, L.P. TXO Partners, L.P. is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. TXO's current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico and Colorado and the Williston Basin of Montana and North Dakota. About North Hudson North Hudson Resource Partners LP is a Houston-based energy investment firm focused on opportunistic upstream and midstream energy investments in North America. With over $1.4 billion of assets under management as of May 2025, North Hudson's private equity platforms own both non-operated and operated oil and gas assets. Its current portfolio includes interests in the Permian Basin, DJ Basin, San Juan Basin, Williston Basin, Haynesville Shale, Utica Shale, and Canada. About White Rock Founded in 2012, White Rock is an upstream energy operator who has acquired over $750 million in U.S. oil and gas assets with over a billion total capital deployed. White Rock's objective has been to build a sustainable, best-in-class business model through technical competency and multi-basin experience. About Quantum Capital Group Founded in 1998, Quantum is a leading provider of private capital to the global energy and energy transition industry, having managed together with its affiliates more than $30 billion in equity commitments since inception. For more information on Quantum, please visit Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the words such as "may," "assume," "forecast," "could," "should," "will," "plan," "believe," "anticipate," "intend," "estimate," "expect," "project," "budget" and similar expressions, although not all forward-looking statements contain such identifying words. These forward-looking statements include statements regarding the pending acquisition including our ability to satisfy the conditions to closing and the expected timing and benefits of the acquisition, our financing of the acquisition, our strategy, descriptions of future operations, prospects, plans and objectives of management, future cash flow and distributions and our ability to execute our strategy. These forward- looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events at the time such statement was made, and it is possible that the results described in this press release will not be achieved. Our assumptions and future performance are subject to a wide range of business risks, uncertainties and factors, including, without limitation, the following: our ability to consummate the proposed acquisition on the terms currently contemplated; our ability to obtain financing for the transaction on terms that are satisfactory to us; our ability to meet distribution expectations and projections; the volatility of oil, natural gas and NGL prices; our ability to safely and efficiently operate TXO's assets; uncertainties about our estimated oil, natural gas and NGL reserves, including the impact of commodity price declines on the economic producibility of such reserves, and in projecting future rates of production; and the risks and other factors disclosed in TXO's filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, TXO does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. View source version on Contacts TXO PartnersBrent W. ClumCo-CEO and CFO817.334.7800ir@ Sign in to access your portfolio
