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Get filing alertsTXO Partners declares $0.40 Q2 distribution, shifts capital to Montana Elm Coulee field
Filed August 4, 2026 · Period ending August 4, 2026 · ~1 min read
Key Changes
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Declared $0.40 per unit Q2 2026 distribution, payable August 21 to unitholders of record August 14. Total distributions since IPO now $6.96 per unit ($286M aggregate).
Exhibit 99.1 view on EDGAR → -
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Completed previously announced asset sales and is focusing capital on Montana's Elm Coulee field, where drilling has delineated over 100 future well sites with strong oil production results.
Exhibit 99.1 view on EDGAR → -
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2026 development capex expected at ~$80M, with the vast majority deployed in the Williston Basin. Average operated well lateral length to approach 14,000 feet (up from ~10,000 feet in 2025).
Exhibit 99.2 view on EDGAR → -
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Year-to-date 2026 production averaged 26,000 boe/d, representing 30% oil production growth versus full-year 2025. Targets 1.0x–2.0x net debt/adjusted EBITDAX post-portfolio reshaping.
Exhibit 99.2 view on EDGAR → -
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Management, board, and significant owners hold ~34% of outstanding units as of June 30, 2026. Partnership maintains variable distribution policy aimed at returning all available cash to unitholders.
Exhibit 99.2 view on EDGAR →
Summary
TXO Partners declared a $0.40 per unit quarterly distribution for Q2 2026, payable August 21 to unitholders of record August 14. The partnership has now distributed $6.96 per unit ($286 million total) since its IPO, maintaining its variable distribution policy that aims to return all available cash to unitholders.
The distribution comes as TXO completes a strategic portfolio shift: the partnership closed previously announced asset sales during Q2 and is now concentrating capital investment on Montana's Elm Coulee field in the Williston Basin, where drilling has delineated over 100 future well sites with strong oil production results.
The operational pivot is backed by a $80 million 2026 development budget, with the vast majority deployed in the Williston. Year-to-date 2026 production averaged 26,000 boe/d, up 30% in oil output versus full-year 2025. Post-reshaping, TXO targets 1.0x–2.0x net debt/adjusted EBITDAX leverage. Management, board, and significant owners hold approximately 34% of units, aligning insider incentives with the unitholder base.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
TXO Partners declared its Q2 2026 quarterly distribution and posted an investor presentation.
Added in current filing · verify on EDGAR →
On August 4, 2026, TXO Partners, L.P. (the "Partnership") issued a press release announcing the declaration of its quarterly distribution for the second quarter of 2026.
The Partnership declared a quarterly distribution for Q2 2026. The specific distribution amount, record date, and payment date are disclosed in the attached press release (Exhibit 99.1), which is not included in the 8-K body text provided.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On August 4, 2026, the Partnership posted an investor presentation on its website. The presentation may be found on the Partnership’s website at www.txopartners.com by selecting “Investors,” “News & Events” and then “Presentations.”
The Partnership posted an investor presentation on its website. The presentation content is furnished as Exhibit 99.2 but is not detailed in the 8-K body text.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
the Board of Directors of its general partner declared a distribution of $0.40 per common unit for the quarter ended June 30, 2026. The quarterly distribution will be paid on August 21, 2026, to eligible unitholders of record as of the close of trading on August 14, 2026.
TXO Partners announced a quarterly distribution of $0.40 per common unit for Q2 2026. The distribution will be paid on August 21, 2026, to unitholders of record as of August 14, 2026. This represents the partnership's regular quarterly cash distribution to common unitholders.
Event · Exhibit 99.2
TXO Partners filed an investor presentation deck outlining its multi-basin portfolio, production growth, distribution strategy, and capital plans.
Added in current filing · view on EDGAR →
TXO Partners, L.P. Investor Presentation August 2026
TXO Partners filed an investor presentation deck dated August 2026. The presentation covers the company's multi-basin asset portfolio (Permian, San Juan, Williston), production metrics, distribution history, hedging strategy, and capital allocation plans. This is a routine disclosure providing updated operational and financial information to investors.
Added in current filing · view on EDGAR → · paraphrased
26K Daily Oil Equivalent Barrels of Production YTD 2026 ... 30% Growth in Daily Oil Production YTD 2026 Versus FY 2025 ... $6.96(1) Total Per Unit Distributions Since IPO ... >$286M(1) Total Dollars Distributed to Unitholders Since IPO
The presentation discloses year-to-date 2026 production of 26,000 barrels of oil equivalent per day, representing 30% oil production growth versus full-year 2025. Total distributions since IPO reached $6.96 per unit, or over $286 million in aggregate. These metrics demonstrate the partnership's production trajectory and cash return to unitholders.
Added in current filing · view on EDGAR →
2026 full-year development costs are expected to be ~$80MM
TXO expects full-year 2026 development capital expenditures of approximately $80 million.
Added in current filing · view on EDGAR → · paraphrased
Post Williston Basin acquisitions and Cross Timbers Energy dispositions, TXO expects to manage between a ~1.0x to ~2.0x Net Debt / Adjusted EBITDAX(1) multiple, delivering returns to unitholders ... Distributions will return significant capital back to unitholders, with a policy to deliver all available cash to unitholders(1)
Following recent Williston Basin acquisitions and the Cross Timbers Energy divestiture, TXO targets a net debt to adjusted EBITDAX ratio between approximately 1.0x and 2.0x. The partnership maintains a variable distribution policy aimed at delivering all available cash to unitholders, avoiding the fixed minimum distributions and incentive distribution rights structures of legacy upstream MLPs.
Added in current filing · view on EDGAR →
Management, board, and significant owners are aligned as owners with ~34%(1) of the units ... (1) As of 6/30/2026.
As of June 30, 2026, management, the board, and significant owners collectively hold approximately 34% of TXO's outstanding units. This substantial insider ownership aligns management incentives with unitholder interests and differentiates TXO from traditional MLP structures that relied on promote structures and incentive distribution rights.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 5, 2026 · How we verify