TXO Partners LP

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

About 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.

Jun 30, 2024 · Filed Aug 6, 2024

TXO$13.17+0.3%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

TXO PARTNERS, L.P.Consolidated Statements of Operations (Unaudited)

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
REVENUES
Oil and condensate	$42,799	$47,691	$80,833	$97,312
Natural gas liquids	6,670	7,033	13,172	16,156
Gas	7,839	5,748	30,742	105,403
Total Revenues	57,308	60,472	124,747	218,871
EXPENSES
Production	36,439	39,357	69,522	74,681
Exploration	71	16	194	83
Taxes, transportation and other	13,201	15,088	28,774	43,991
Depreciation, depletion and amortization	10,332	11,543	20,849	22,481
Accretion of discount in asset retirement obligation	2,781	2,159	5,565	4,277
General and administrative	4,591	1,084	7,245	3,306
Total Expenses	67,415	69,247	132,149	148,819
OPERATING INCOME (LOSS)	(10,107)	(8,775)	(7,402)	70,052
OTHER INCOME (EXPENSE)
Other income	13,842	6,720	22,255	13,034
Interest income	122	127	247	234
Interest expense	(1,049)	(618)	(2,025)	(2,057)
Total Other Income	12,915	6,229	20,477	11,211
NET INCOME (LOSS)	$2,808	$(2,546)	$13,075	$81,263
NET INCOME (LOSS) PER COMMON UNIT
Basic	$0.09	$(0.08)	$0.42	$2.73
Diluted	$0.09	$(0.08)	$0.41	$2.68
WEIGHTED AVERAGE COMMON UNITS OUTSTANDING
Basic	31,153	30,750	30,976	29,772
Diluted	31,708	30,750	31,567	30,313

TXO PARTNERS, L.P.Consolidated Statements of Cash Flows (Unaudited)

	Six months ended June 30, 2024
	2024	2023
OPERATING ACTIVITIES
Net income	$13,075	$81,263
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	20,849	22,481
Accretion of discount in asset retirement obligation	5,565	4,277
Derivative fair value (gain) loss	726	(8,235)
Net cash received from (paid to) counterparties	2,272	(78,194)
Non-cash incentive compensation	2,973	1,591
Other non-cash items	483	360
Changes in operating assets and liabilities (a)	2,139	12,010
Cash Provided by Operating Activities	48,082	35,553
INVESTING ACTIVITIES
Proceeds from sale of property and equipment	5	—
Proved property acquisitions	(29,400)	(6,105)
Development costs	(8,198)	(21,196)
Unproved property acquisitions	(169)	(60)
Other property and asset additions	(720)	(1,222)
Cash Used by Investing Activities	(38,482)	(28,583)
FINANCING ACTIVITIES
Proceeds from long-term debt	61,000	48,000
Payments on long-term debt	(82,000)	(147,000)
Net proceeds from public offering	122,500	—
Net proceeds from initial public offering	—	106,277
Proceeds from sale of units to cover withholding taxes	930	—
Withholding taxes paid on vesting of restricted units	(851)	—
Debt issuance costs	(48)	(110)
Distributions	(39,637)	(18,901)
Cash Provided by (Used by) Financing Activities	61,894	(11,734)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	71,494	(4,764)
Cash and Cash Equivalents, beginning of period	4,505	9,204
Cash and Cash Equivalents, end of period	$75,999	$4,440
(a) Changes in Operating Assets and Liabilities
Accounts receivable	$3,628	$21,834
Other current assets	(124)	903
Current liabilities	(805)	(10,059)
Other operating liabilities	(560)	(668)
	$2,139	$12,010

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.