TXO Partners, L.P. has announced the pricing of its public offering of $175 million of common units, with each unit priced at $15.00. The offering is expected to close on May 15, 2025. TXO expects to receive net proceeds of approximately $165.3 million, which it plans to use to fund a portion of the cash consideration for an asset acquisition from White Rock Energy, LLC. The offering is being made through a combined prospectus with respect to two effective shelf registration statements.
Raymond James and Stifel are acting as joint book-running managers for the offering, with Capital One Securities, Mizuho, and Texas Capital Securities also acting as joint book-running managers. The offering is not conditioned on the consummation of the acquisition, and if the acquisition is not completed, the proceeds from the offering will be used to repay the outstanding borrowings under TXO’s revolving credit facility and for general partnership purposes.
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. Its 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. Today the company's shares have moved 1.03% to a price of $17.68. If you want to know more, read the company's complete 8-K report here.
