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FORT WORTH, Texas, June 25, 2024--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ("TXO") today announced, subject to market and other conditions, the commencement of an underwritten public offering of 5,000,000 common units representing limited partner interests in TXO (the "common units"). TXO expects to grant the underwriters a 30 day option to purchase up to an additional 750,000 common units at the public offering price, less underwriting discounts and commissions. TXO intends to use the net proceeds from this offering, if consummated, to fund a portion of the cash consideration for the previously announced asset acquisitions from Eagle Mountain Energy Partners and a private company (the "Acquisitions"). The offering is not conditioned on the consummation of either of the Acquisitions. Pending the closing of the Acquisitions, and in the event that either of the Acquisitions are not completed, the proceeds from the offering will be used to repay the outstanding borrowings under TXO’s revolving credit facility and for general partnership purposes.
Raymond James is acting as the sole book-running manager for the offering. The offering is being made pursuant to an effective shelf registration statement, including a base prospectus, filed by TXO with the Securities and Exchange Commission ("SEC"). The offering of these securities may be made only by means of the prospectus supplement and the accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. When available, a copy of the prospectus supplement may be obtained from any of the following sources:
| Raymond James & Associates, Inc. |
| Attention: Syndicate |
| 880 Carillon Parkway |
| St. Petersburg, Florida 33716 |
| Telephone: (800) 248-8863 |
| Email: prospectus@raymondjames.com |
You may also obtain these documents for free when they are available by visiting EDGAR on the SEC website at www.sec.gov.
Important Information
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About TXO Partners, L.P.
TXO Partners, L.P. 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. TXO’s current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.