TXO Partners
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TXO Partners (TXO) investor relations material

TXO Partners Investor presentation summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Investor presentation summary26 Feb, 2026

Business model and asset base

  • Operates as a yield-oriented MLP focused on long-lived, low-decline conventional oil and gas assets across the Permian, San Juan, and Williston Basins.

  • Holds approximately 642,000 net acres and 1,300,000 gross acres, with a production base of 33,000 BOE/d in Q4 2025.

  • Maintains a low base decline rate of 11%, supporting stable cash flows and distributions.

  • Management, board, and significant owners collectively own about 31% of units, aligning interests with investors.

  • Asset acquisition strategy has expanded the portfolio through targeted purchases in key basins since 2012.

Operational highlights and basin focus

  • Focused on three major US basins: Williston, San Juan, and Permian, balancing oil and gas exposure for capital flexibility.

  • Williston Basin receives the majority of 2026 discretionary capex, with production nearly doubling from 5.7 to 11.5 MBOE/d between Q4 2024 and Q4 2025.

  • San Juan Basin Mancos Shale play offers 58,500 net acres with infrastructure advantages and future development or monetization options.

  • Permian Basin assets provide 6.6 MBOE/d in 2025, with a low 6% decline rate and multiple upside opportunities through enhanced recovery methods.

Financial strategy and performance

  • 2026 development costs are budgeted at approximately $70 million, supporting a high-margin capital program.

  • Variable distribution policy returns all available cash to unitholders, with over $245 million distributed since IPO and $6.20 per share.

  • Maintains a strong balance sheet, targeting 1.0x–2.0x Net Debt/Adjusted EBITDAX post-acquisitions.

  • Employs an opportunistic hedging strategy to manage commodity price risk and support consistent returns.

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Next TXO Partners earnings date

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Q1 202630 Apr, 2026
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Frequently asked questions

TXO Partners L.P., formerly known as TXO Energy Partners, L.P., is an entity that focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves primarily in North America. The company's operations and acreage positions are notably concentrated in the Permian Basin of West Texas and New Mexico, as well as the San Juan Basin of New Mexico and Colorado. The company is headquartered in Fort Worth, Texas, and its shares are listed on the New York Stock Exchange.

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