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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.Business model and strategy
Operates as a yield-oriented MLP focused on long-lived legacy oil and gas properties with strong cash flows and low decline rates, supporting substantial distributions to unitholders.
Maintains a vision for long-term production and distribution, building value through strategic acquisitions in premier US basins.
Management, board, and significant owners are highly aligned, collectively holding about 31% of units as of September 2025.
Focuses on conventional development with managed growth and lower capital expenditures, leveraging low-risk assets.
Operates primarily in the Permian, San Juan, and Williston Basins, with a total of approximately 642,000 net acres.
Operational highlights
Achieved a 15.5% CAGR in daily oil production from 2022 through Q3 2025, with 39% growth in daily oil production YTD 2025 versus FY 2024.
Reported 29,000 daily oil equivalent barrels of production in Q3 2025.
Expanded Williston Basin presence in 2024–2025, acquiring a total of ~270,000 net acres, enhancing oil share and operating efficiency.
Holds 58,500 net acres in the Mancos Shale play of the San Juan Basin, with infrastructure advantages and future development optionality.
Permian Basin assets include ~77,000 net acres, 2024 production of 7.0 MBoe/d (84% oil), and a base decline rate of ~6%.
Financial performance and policies
Distributed over $229 million to unitholders since IPO, with total per share distributions of $5.90.
Full-year development costs are budgeted to increase to ~$65 million.
Maintains a strong balance sheet, targeting a ~1.0x Net Debt/Adjusted EBITDAX multiple post-acquisitions.
All available cash is distributed to unitholders, leveraging the MLP structure to avoid double taxation.
Employs an opportunistic hedging strategy to manage commodity price risk and support consistent returns.
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