TXO Partners LP

For the period ended Sep 30, 2024. Filed Nov 5, 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.

Sep 30, 2024 · Filed Nov 5, 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 September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
REVENUES
Oil and condensate	$56,111	$35,292	$136,944	$132,604
Natural gas liquids	7,195	5,446	20,367	21,602
Gas	5,425	29,136	36,167	134,539
Total Revenues	68,731	69,874	193,478	288,745
EXPENSES
Production	39,437	35,657	108,959	110,338
Exploration	20	24	214	107
Taxes, transportation and other	14,466	15,261	43,240	59,252
Depreciation, depletion and amortization	13,573	10,616	34,422	33,097
Accretion of discount in asset retirement obligation	2,926	2,185	8,491	6,462
General and administrative	3,275	1,756	10,520	5,062
Total Expenses	73,697	65,499	205,846	214,318
OPERATING INCOME (LOSS)	(4,966)	4,375	(12,368)	74,427
OTHER INCOME (EXPENSE)
Other income	6,329	5,199	28,584	18,233
Interest income	700	107	947	341
Interest expense	(1,860)	(1,202)	(3,885)	(3,259)
Total Other Income	5,169	4,104	25,646	15,315
NET INCOME	$203	$8,479	$13,278	$89,742
NET INCOME PER COMMON UNIT
Basic	$0.01	$0.28	$0.39	$2.98
Diluted	$0.01	$0.27	$0.39	$2.93
WEIGHTED AVERAGE COMMON UNITS OUTSTANDING
Basic	39,272	30,750	33,762	30,102
Diluted	39,828	31,285	34,340	30,640

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

	Nine months ended September 30, 2024
	2024	2023
OPERATING ACTIVITIES
Net income	$13,278	$89,742
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	34,422	33,097
Accretion of discount in asset retirement obligation	8,491	6,462
Derivative fair value (gain) loss	1,269	(3,216)
Net cash received from (paid to) counterparties	2,278	(81,642)
Non-cash incentive compensation	4,569	2,531
Other non-cash items	871	602
Changes in operating assets and liabilities (a)	3,614	12,156
Cash Provided by Operating Activities	68,792	59,732
INVESTING ACTIVITIES
Proceeds from sale of property and equipment	5	—
Proved property acquisitions	(260,769)	(8,570)
Development costs	(10,866)	(30,575)
Unproved property acquisitions	(220)	(60)
Other property and asset additions	(1,162)	(1,330)
Cash Used by Investing Activities	(273,012)	(40,535)
FINANCING ACTIVITIES
Proceeds from long-term debt	222,000	64,000
Payments on long-term debt	(95,000)	(159,000)
Net proceeds from public offering	141,245	—
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	(3,173)	(125)
Distributions	(61,590)	(33,662)
Cash Provided by (Used by) Financing Activities	203,561	(22,510)
DECREASE IN CASH AND CASH EQUIVALENTS	(659)	(3,313)
Cash and Cash Equivalents, beginning of period	4,505	9,204
Cash and Cash Equivalents, end of period	$3,846	$5,891
(a) Changes in Operating Assets and Liabilities
Accounts receivable	$(2,997)	$19,388
Other current assets	1,238	69
Current liabilities	6,473	(6,451)
Other operating liabilities	(1,100)	(850)
	$3,614	$12,156

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.