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TXO Partners, L.P., Announces Entry Into Definitive Agreement for Additional Elm Coulee Properties
FORT WORTH, Texas, May 13, 2025--TXO Partners, L.P. (NYSE: TXO) ("TXO") announced today that it has entered into a purchase agreement with White Rock Energy, LLC ("White Rock"), a portfolio company of Quantum Capital Group, to purchase producing assets in the Elm Coulee field in the Williston Basin of Montana and North Dakota. The total cash consideration by TXO will be approximately $350 million, subject to customary purchase price adjustments. Of this purchase price, $70 million will be deferr
About this update from Txo Partners, L.p.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":480,"url":"https://media.zenfs.com/en/business-wire.com/7d8a804b18ae958a18a2eb06092d7d42"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/NW0nRBNd7IkobP0nfeemtg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTk2MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/7d8a804b18ae958a18a2eb06092d7d42","width":480,"height":480}},"lazy":false},{"type":"text","content":"FORT WORTH, Texas, May 13, 2025--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ("TXO") announced today that it has entered into a purchase agreement with White Rock Energy, LLC ("White Rock"), a portfolio company of Quantum Capital Group, to purchase producing assets in the Elm Coulee field in the Williston Basin of Montana and North Dakota. The total cash consideration by TXO will be approximately $350 million, subject to customary purchase price adjustments. Of this purchase price, $70 million will be deferred and payable one year after the initial closing. The agreement was signed in partnership with North Hudson Resource Partners LP ("North Hudson"), whose affiliates will acquire a 30% non-operated interest in the White Rock assets. Together with the interests to be acquired by North Hudson, the total consideration for the acquisition of White Rock’s Elm Coulee properties is $475 million based on a May 1, 2025, effective date.","length":976,"tagName":"p"},{"type":"text","content":""This transaction is the perfect complement to our initial acquisition in the prolific Elm Coulee field of Montana last year," commented Brent Clum, Co-Chief Executive Officer. "Importantly, the strong well economics and our development plan, even with the lower oil prices, provide a pathway for healthy economic returns. We remain focused on the long-term value creation and distribution strategy for our owners with a disciplined allocation of our capital. These Williston Basin properties deliver growth, compelling margins and long-term visibility."","length":574,"tagName":"p"},{"type":"text","content":""With this acquisition, TXO will become a leading oil producer in the Elm Coulee field, and for all the right reasons," stated Gary D. Simpson, Co-Chief Executive Officer. "The Elm Coulee...