TXO Partners LP
For the period ended Mar 31, 2024. Filed May 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
TXO$13.17+0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
TXO PARTNERS, L.P.Consolidated Statements of Operations (Unaudited)
| Three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| REVENUES | ||
| Oil and condensate | $38,034 | $49,621 |
| Natural gas liquids | 6,502 | 9,123 |
| Natural gas | 22,903 | 99,655 |
| Total Revenues | 67,439 | 158,399 |
| EXPENSES | ||
| Production | 33,083 | 35,324 |
| Exploration | 123 | 67 |
| Taxes, transportation and other | 15,573 | 28,903 |
| Depreciation, depletion and amortization | 10,517 | 10,938 |
| Accretion of discount in asset retirement obligation | 2,784 | 2,118 |
| General and administrative | 2,654 | 2,222 |
| Total Expenses | 64,734 | 79,572 |
| OPERATING INCOME | 2,705 | 78,827 |
| OTHER INCOME (EXPENSE) | ||
| Other income | 8,413 | 6,314 |
| Interest income | 125 | 107 |
| Interest expense | (976) | (1,439) |
| Total Other Income | 7,562 | 4,982 |
| NET INCOME | $10,267 | $83,809 |
| NET INCOME PER COMMON UNIT | ||
| Basic | $0.33 | $2.91 |
| Diluted | $0.33 | $2.86 |
| WEIGHTED AVERAGE COMMON UNITS OUTSTANDING | ||
| Basic | 30,800 | 28,783 |
| Diluted | 31,425 | 29,328 |
TXO PARTNERS, L.P.Consolidated Statements of Cash Flows (Unaudited)
| Three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| OPERATING ACTIVITIES | ||
| Net income | $10,267 | $83,809 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 10,517 | 10,938 |
| Accretion of discount in asset retirement obligation | 2,784 | 2,118 |
| Derivative fair value (gain) loss | 1,054 | (15,056) |
| Net cash paid to counterparties | (396) | (80,438) |
| Non-cash incentive compensation | 1,141 | 639 |
| Other non-cash items | 241 | 180 |
| Changes in operating assets and liabilities (a) | (411) | 14,959 |
| Cash Provided by Operating Activities | 25,197 | 17,149 |
| INVESTING ACTIVITIES | ||
| Proved property acquisitions | — | (232) |
| Development costs | (2,835) | (11,278) |
| Unproved property acquisitions | (37) | (53) |
| Other property and asset additions | (143) | (818) |
| Cash Used by Investing Activities | (3,015) | (12,381) |
| FINANCING ACTIVITIES | ||
| Proceeds from long-term debt | 10,000 | 37,000 |
| Payments on long-term debt | (12,000) | (150,000) |
| Net proceeds from initial public offering | — | 106,277 |
| Proceeds from sale of units to cover withholding taxes | 187 | — |
| Withholding taxes paid on vesting of restricted units | (851) | — |
| Debt issuance costs | (2) | (1) |
| Distributions | (19,451) | — |
| Cash Used by Financing Activities | (22,117) | (6,724) |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 65 | (1,956) |
| Cash and Cash Equivalents, beginning of period | 4,505 | 9,204 |
| Cash and Cash Equivalents, end of period | $4,570 | $7,248 |
| (a) Changes in Operating Assets and Liabilities | ||
| Accounts receivable | $2,100 | $20,527 |
| Other current assets | (1,071) | (2,948) |
| Current liabilities | (1,087) | (2,313) |
| Other operating liabilities | (353) | (307) |
| $(411) | $14,959 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.