$TXO

TXO Partners, L.P.

CIK:0001559432|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
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 (in dollars per share)	$ 1.1	$ 0	$ (0.25)	$ 0.05
Diluted (in dollars per share)	$ 1.07	$ 0	$ (0.25)	$ 0.05
WEIGHTED AVERAGE COMMON UNITS OUTSTANDING
Basic (in shares)	55,446	48,220	55,269	44,671
Diluted (in shares)	56,682	48,220	55,269	45,549
Oil and condensate
Total Revenues	$ 130,758	$ 59,054	$ 128,012	$ 124,049
Natural gas liquids
Total Revenues	10,761	7,892	20,096	16,454
Natural gas
Total Revenues	$ 9,353	$ 22,933	$ 31,040	$ 33,701

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net Income (Loss)	$ (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 (gain) loss	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)	0
Other non-cash items	767	511
Changes in operating asset and liabilities	(6,011)	(5,605)
Cash Provided by Operating Activities	82,508	57,464
INVESTING ACTIVITIES
Proceeds from sale of property and equipment	100,330	0
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	0	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
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)
Changes in Operating Assets and Liabilities	$ (6,011)	$ (5,605)

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
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
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