Txo Partners, L.p. · NYSE:TXO
Txo Partners, L.p — Investor Presentation (August 2025)
13 slides from Txo Partners, L.p's investor presentation, August 2025
Slide 1: TXO Partners, L.P. Investor Presentation August 2025
TXO Partners, L.P. Investor Presentation August 2025
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements This presentation contains “forward-looking” statements, as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management’s beliefs and assumptions an
Slide 3: TXO Partners – Unique MLP in Energy
TXO Partners – Unique MLP in Energy • Owners of long-lived legacy properties with robust / strong cash flows • Vision for long-term distribution model • Building value with the “right assets” over time • Management and Board are aligned as owners with ~31%(1) of the units 3 (1) As of 6/1/2025.
Slide 4: About Us | TXO Partners, L.P.
About Us | TXO Partners, L.P. (NYSE:&TXO) (NYSE NYSE Texas: TXO) ~642K $5.55 >$210M 642,000 Net Acres Primarily Total Per Share Distributions Total Dollars Distributed to Across Three Major US Basins Since IPO Unitholders Since IPO 15% 32% 26K Daily Oil Production CAGR from Growth in Daily Oil Produ
Slide 5: Introduction to TXO Partners
Introduction to TXO Partners Low-decline assets allow the Company to distribute a Colorado substantial portion of its cash flow from operations WillistonBasin Williston Basin • TXO is a yield-oriented independent oil and natural gas company headquartered in Fort Worth, TX with ~1,300,000 San Juan Ba
Slide 6: We Operate in High Impact Basins
We Operate in High Impact Basins TXO operates in three prolific US basins Exposure to oil and natural gas inventory provides capital Williston Basin allocation flexibility Conventional Base + Unconventional Upside Portfolio underpinned by shallow decline conventional production with unconventional u
Slide 7: Stable Return of Capital Program = Cash Distribution
Stable Return of Capital Program = Cash Distribution Peer leading decline rates provide relatively stable distributable cash flow Quarterly Distributions per Unit Cumulative Distributions per Unit since IPO 7 Source: Public filings.
Slide 8: Williston Basin
Williston Basin Return to the Williston Basin and Elm Coulee Field in 2024 with further consolidation in 2025 • Expands opportunity for extended reach laterals • Enhances oil share of TXO’s portfolio • Significantly improves our operating efficiency 2024 - June 2025 July 2025 WRE Acquisition Net Acr
Slide 9: San Juan Basin – Mancos Shale Play
San Juan Basin – Mancos Shale Play Core Mancos with Infrastructure Advantages 58,500 TXO Net Acres in Mancos Play San Juan Basin 3,250 Net Acres in Phase I Development 6% Phase I as a percentage of TXO total PHASE 1 Phase 1 Offset operators current gas rig count 4 in basin(1) Within a prime target a
Slide 10: Financial Strategies
Financial Strategies TXO’s financial profile supports substantial free cash flow High Margin and • 1H 2025 development costs were ~31% of Cash Available for Distribution(1) Efficient Capital • Full-year development costs are budgeted to increase to ~$65MM Program Attractive • TXO’s capital strategy
Slide 11: Hedge Profile Summary
Hedge Profile Summary As of 7/31/25 Crude Oil WAVG NYMEX Production Period BBls per Day Price per BBl July 2025 9,000 $ 65.11 August 2025 - December 2025 10,000 $ 64.63 January 2026 - June 2026 7,000 $ 64.81 July 2026 - September 2026 5,000 $ 64.53 October 2026 - December 2026 3,375 $ 60.96 January
Slide 12: Experienced and Personally Invested Management Team with an Extensive Track Record of Value Creation
Experienced and Personally Invested Management Team with an Extensive Track Record of Value Creation Executives Bob Simpson Brent Clum Gary Simpson Scott Agosta Keith Hutton Chairman of the Board Co-Chief Executive Officer, Co-Chief Executive Chief Accounting Officer Executive Vice President, Of Dir
Slide 13: Investment Considerations and Opportunity Highlights
Investment Considerations and Opportunity Highlights Experienced and personally invested management team with an 1 extensive track record of value creation • Top-tier management with significant industry experience in acquiring and exploiting conventional oil and natural gas properties in multiple r