T
TXO Partners, L.P.
Period
FY 2025
Revenue
$401.01M
Net Income
$-21.62M
Total Assets
$1.35B
Equity
—
Shares Out
55.24M
Op. Cash Flow
$118.19M
Business
TXO Partners is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. The company operates producing properties concentrated in the Permian Basin, San Juan Basin, and Williston Basin, characterized by low geologic risk and low decline rates. TXO Partners distributes available quarterly cash to unitholders after establishing reserves, with cash flow supported by stable, low-decline reserves and moderate leverage.
Summary from 10-K filed 2026-02-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total Revenues | 401 | 283 | 381 | 246 | 228 | |
| Production | 186 | 150 | 145 | 128 | 69 | |
| Exploration | 469,000 | 373,000 | 151,000 | 360,000 | 124,000 | |
| Taxes, transportation and other | 69 | 60 | 75 | 95 | 58 | |
| Depreciation, depletion, and amortization | 97 | 52 | 44 | 41 | 40 | |
| Impairment of long-lived assets | 42 | 0 | 223 | 0 | 0 | |
| Accretion of discount expense | 16 | 12 | 9 | 6 | 5 | |
| General and administrative | 21 | 15 | 8 | 2 | 12 | |
| Total Expenses | 432 | 290 | 504 | 272 | 184 | |
| OPERATING (LOSS) | −31 | −7 | −124 | −26 | 44 | |
| Other income | 25 | 37 | 24 | 26 | 14 | |
| Interest income | 618,000 | 1 | 461,000 | 143,000 | 16,000 | |
| Interest expense | −17 | −8 | −4 | −8 | — | |
| Other Income (Expense) | 9 | 30 | 20 | 18 | 8 | |
| NET (LOSS) INCOME | −22 | 23 | −104 | −8 | 52 | |
| Basic (in dollars per share) | −0.43 | 0.66 | −3.44 | −0.31 | 2.1 | |
| Diluted (in dollars per share) | −0.43 | 0.65 | −3.44 | −0.31 | 2.1 | |
| Basic (in shares) | 50 | 36 | 30 | 25 | 25 | |
| Diluted | 50 | 36 | 30 | 25 | 25 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 9 | 7 | 5 | 9 | — | |
| Accounts receivable, net | 52 | 40 | 32 | 52 | — | |
| Derivative fair value | 18 | 6 | 6 | 1 | — | |
| Other | 15 | 11 | 12 | 11 | — | |
| Total Current Assets | 95 | 64 | 55 | 74 | — | |
| Proved properties | 2,337 | 1,913 | 1,540 | 1,481 | — | |
| Unproved properties | 19 | 19 | 18 | 18 | — | |
| Other | 89 | 85 | 84 | 82 | — | |
| Total Property and Equipment | 2,445 | 2,017 | 1,642 | 1,582 | — | |
| Accumulated depreciation, depletion and amortization | −1,204 | −1,065 | −1,013 | −745 | — | |
| Net Property and Equipment | 1,241 | 951 | 629 | 836 | — | |
| Note receivable from related party | 7 | 7 | 7 | 7 | — | |
| Derivative fair value | 6 | 2 | 0 | 290,000 | — | |
| Other assets | 6 | 6 | 4 | 7 | — | |
| Total Other Assets | 19 | 15 | 11 | 14 | — | |
| TOTAL ASSETS | 1,355 | 1,031 | 696 | 925 | — | |
| Accounts payable | 28 | 18 | 9 | 15 | — | |
| Deferred payment | 70 | 0 | — | — | — | |
| Accrued liabilities | 46 | 39 | 23 | 34 | — | |
| Derivative fair value | 5 | 6 | 4 | 95 | — | |
| Asset retirement obligation, current portion | 4 | 2 | 2 | 3 | — | |
| Other current liabilities | 2 | 1 | 1 | 779,000 | — | |
| Total Current Liabilities | 154 | 66 | 39 | 147 | — | |
| Long-term Debt | 291 | 157 | 28 | 120 | — | |
| Asset retirement obligation | 218 | 189 | 152 | 124 | — | |
| Derivative fair value | 35,000 | 8 | 0 | 10 | — | |
| Other liabilities | 534,000 | 1 | 2 | 1 | — | |
| Total Other Liabilities | 218 | 198 | 155 | 136 | — | |
| Commitments and Contingencies | — | — | — | — | — | |
| Partners capital | 692 | 609 | 474 | 522 | 541 | |
| TOTAL LIABILITIES AND PARTNERS CAPITAL | 1,355 | 1,031 | 696 | 925 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Derivative fair value (gain) loss | −38 | 3 | −23 | 203 | −9 | |
| Net cash received from (paid to) counterparties | 14 | 5 | −83 | −90 | 0 | |
| Non-cash incentive compensation | 16 | 6 | 3 | 0 | 2 | |
| Other non-cash items | 1 | 1 | 955,000 | 715,000 | −585,000 | |
| Changes in operating assets and liabilities(a) | −8 | 7 | 7 | −17 | −7 | |
| Cash Provided by Operating Activities | 118 | 109 | 77 | 136 | 74 | |
| Proceeds from sale of property and equipment | 18,000 | 122,000 | 0 | 320,000 | 0 | |
| Proved property acquisitions | −263 | −264 | −9 | −50 | −186 | |
| Development costs | −72 | −23 | −36 | −24 | −8 | |
| Unproved property acquisitions | −157,000 | −227,000 | −72,000 | −50,000 | −67,000 | |
| Other property additions | −714,000 | −1 | −2 | −13 | −33 | |
| Cash Used by Investing Activities | −335 | −288 | −46 | −87 | −228 | |
| Proceeds from long-term debt | 406 | 251 | 86 | 1,461 | 1,437 | |
| Payments on long-term debt | −272 | −122 | −178 | −1,493 | −1,427 | |
| Net proceeds from initial public offering | 0 | 0 | 106 | 0 | 0 | |
| Net proceeds from public offering | 190 | 141 | 0 | 0 | — | |
| Debt issuance costs | −2 | −3 | −144,000 | −161,000 | −3 | |
| Proceeds from sale of units to cover withholding taxes | 2 | 930,000 | 0 | 0 | — | |
| Withholding taxes paid on vesting of restricted units | −2 | −851,000 | 0 | 0 | — | |
| Distributions | −101 | −85 | −50 | −13 | −139,000 | |
| Cash Provided by (Used by) Financing Activities | 219 | 182 | −36 | −48 | 140 | |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 2 | 3 | −5 | 2 | −14 | |
| Accounts receivable | −13 | −8 | 20 | −23 | −15 | |
| Other assets | −2 | 2 | −546,000 | −6 | −2 | |
| Current liabilities | 10 | 15 | −11 | 12 | 10 | |
| Other operating liabilities | −3 | −2 | −2 | −1 | −640,000 |
Filings
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Frequently asked questions
What is TXO Partners, L.P.'s CIK number?
TXO Partners, L.P.'s SEC CIK number is 0001559432 (1559432). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find TXO Partners, L.P.'s SEC filings?
All of TXO Partners, L.P.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.