NYSE: TXO
TXO Partners, L.P.CIK 0001559432 · SIC 1311 · Crude Petroleum & Natural Gas
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TXO Partners declares $0.40 Q2 distribution, shifts capital to Montana Elm Coulee field
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TXO: revenue $150.9M, net income $60.8M. TXO revenue +68% on oil rally; sold Cross Timbers JV for ~, cut distribution 11%
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TXO closes $200M Cross Timbers asset sale, uses $100M proceeds to pay down debt
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TXO: revenue $28.3M, net income -$74.3M. TXO swings to Q1 loss on hedging hits; cuts distribution 41%, selling assets for debt
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TXO Partners declares Q1 2026 quarterly distribution, posts investor presentation
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TXO Partners' joint venture selling $200M in assets; TXO to receive ~$100M to pay down debt
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Latest financial statements
From 10-Q filed Aug 4, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(in thousands)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| REVENUES | ||||
| Oil and condensate | 130,758 | 59,054 | 128,012 | 124,049 |
| Natural gas liquids | 10,761 | 7,892 | 20,096 | 16,454 |
| Natural gas | 9,353 | 22,933 | 31,040 | 33,701 |
| Total Revenues | 150,872 | 89,879 | 179,148 | 174,204 |
| EXPENSES | ||||
| Production | 41,453 | 43,334 | 89,190 | 85,605 |
| Exploration | 126 | 60 | 234 | 133 |
| Taxes, transportation and other | 19,708 | 15,234 | 39,470 | 33,115 |
| Depreciation, depletion and amortization | 23,968 | 21,684 | 52,806 | 43,113 |
| Accretion of discount in asset retirement obligation | 3,201 | 3,828 | 7,769 | 7,641 |
| General and administrative | 4,751 | 9,454 | 9,565 | 11,895 |
| Total Expenses | 93,207 | 93,594 | 199,034 | 181,502 |
| OPERATING INCOME (LOSS) | 57,665 | (3,715) | (19,886) | (7,298) |
| OTHER INCOME (EXPENSE) | ||||
| Other income | 8,488 | 5,851 | 17,344 | 15,368 |
| Interest income | 197 | 300 | 296 | 403 |
| Interest expense | (5,579) | (2,571) | (11,319) | (6,192) |
| Total Other Income | 3,106 | 3,580 | 6,321 | 9,579 |
| NET INCOME (LOSS) | 60,771 | (135) | (13,565) | 2,281 |
| NET INCOME (LOSS) PER COMMON UNIT | ||||
| Basic | 1.10 | 0.00 | (0.25) | 0.05 |
| Diluted | 1.07 | 0.00 | (0.25) | 0.05 |
| WEIGHTED AVERAGE COMMON UNITS OUTSTANDING | ||||
| Basic | 55,446 | 48,220 | 55,269 | 44,671 |
| Diluted | 56,682 | 48,220 | 55,269 | 45,549 |
Consolidated Balance Sheets
(in thousands)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | 107,478 | 9,374 |
| Accounts receivable, net | 51,171 | 52,391 |
| Derivative fair value | 8,033 | 18,276 |
| Other | 12,813 | 15,293 |
| Total Current Assets | 179,495 | 95,334 |
| Property and Equipment, at cost – successful efforts method: | ||
| Proved properties | 1,204,804 | 2,336,977 |
| Unproved properties | 10,501 | 18,863 |
| Other | 89,281 | 89,065 |
| Total Property and Equipment | 1,304,586 | 2,444,905 |
| Accumulated depreciation, depletion and amortization | (248,214) | (1,204,261) |
| Net Property and Equipment | 1,056,372 | 1,240,644 |
| Other Assets: | ||
| Note receivable from related party | 7,168 | 7,131 |
| Derivative fair value | 1,621 | 5,576 |
| Other | 6,763 | 6,218 |
| Total Other Assets | 15,552 | 18,925 |
| TOTAL ASSETS | 1,251,419 | 1,354,903 |
| LIABILITIES AND PARTNERS’ CAPITAL | ||
| Current Liabilities: | ||
| Accounts payable | 33,062 | 27,979 |
| Deferred payment | 70,000 | 70,000 |
| Accrued liabilities | 41,038 | 45,776 |
| Derivative fair value | 21,268 | 5,057 |
| Asset retirement obligation, current portion | 2,000 | 3,500 |
| Other current liabilities | 3,271 | 1,605 |
| Total Current Liabilities | 170,639 | 153,917 |
| Long-term Debt | 270,100 | 291,100 |
| Other Liabilities: | ||
| Asset retirement obligation | 156,760 | 217,585 |
| Derivative fair value | 5,634 | 35 |
| Other liabilities | 233 | 534 |
| Total Other Liabilities | 162,627 | 218,154 |
| Commitments and Contingencies | ||
| Partners’ Capital: | ||
| Partners’ capital | 648,053 | 691,732 |
| TOTAL LIABILITIES AND PARTNERS’ CAPITAL | 1,251,419 | 1,354,903 |
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net (loss) income | (13,565) | 2,281 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 52,806 | 43,113 |
| Accretion of discount in asset retirement obligation | 7,769 | 7,641 |
| Derivative fair value loss (gain) | 74,836 | (5,348) |
| Net cash received from (paid to) derivative counterparties | (38,828) | 5,504 |
| Non-cash incentive compensation | 6,359 | 9,367 |
| Gain on sale | (1,625) | - |
| Other non-cash items | 767 | 511 |
| Changes in operating assets and liabilities (a) | (6,011) | (5,605) |
| Cash Provided by Operating Activities | 82,508 | 57,464 |
| INVESTING ACTIVITIES | ||
| Proceeds from sale of property and equipment | 100,330 | - |
| Proved property acquisitions | (1,130) | (34,205) |
| Development costs | (24,670) | (14,956) |
| Unproved property acquisitions | (600) | (55) |
| Other property and asset additions | (803) | (350) |
| Cash Provided by (Used by) Investing Activities | 73,127 | (49,566) |
| FINANCING ACTIVITIES | ||
| Proceeds from long-term debt | 44,000 | 88,500 |
| Payments on long-term debt | (65,000) | (226,500) |
| Net proceeds from public offering | - | 189,502 |
| Proceeds from sale of units to cover withholding taxes | 2,173 | 1,215 |
| Withholding taxes paid on vesting of restricted units | (2,120) | (2,358) |
| Debt issuance costs | (58) | (3) |
| Distributions | (36,526) | (57,606) |
| Cash Used by Financing Activities | (57,531) | (7,250) |
| INCREASE IN CASH AND CASH EQUIVALENTS | 98,104 | 648 |
| Cash and Cash Equivalents, beginning of period | 9,374 | 7,305 |
| Cash and Cash Equivalents, end of period | 107,478 | 7,953 |
| (a) Changes in Operating Assets and Liabilities | ||
| Accounts receivable | 898 | 3,896 |
| Other current assets | 1,381 | (2,151) |
| Current liabilities | (5,145) | (5,251) |
| Other operating liabilities | (3,145) | (2,099) |
| (6,011) | (5,605) | |
Amounts as printed on the EDGAR/iXBRL face — (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗