Separately, TXO also entered a June 25 deal with Kaiser-Francis Oil Co., among others, that included 19,000 net acres and 52 non-operated wells. (Source: Shutterstock/ TXO Partners)
MLP TXO Partners LP has closed on a Williston Basin cash-and-unit transaction with a cash component of $241.8 million, according to the company’s regulatory filings.
As part of the transaction, TXO issued 2.5 million TXO common units to Eagle Mountain Energy Partners, a portfolio company of private equity firm Pearl Energy Investments and Vendera Resources LP’s VR4-ELM LP. Based on TXO’s unit price of $21.82 when the deals were signed on June 25, the transactions’ total value is roughly $296.35 million.
The acquired Eagle Mountain assets include 159,000 net (244,000 gross) acres with 359 operated wells and 284 non-operated wells. The deal adds assets in the Elm Coulee Field of Montana and the Russian Creek Field of North Dakota. The transaction has an effective date of April 1, 2024.
Separately, TXO also entered a June 25 deal with Kaiser-Francis Oil Co., among others, that included 19,000 net acres and 52 non-operated wells. The deal was valued at $18 million. TXO’s Securities and Exchange Commission filings do not make it clear whether that deal has closed.
RELATED
Bob Simpson-led TXO Partners Buys Williston Basin Assets for Nearly $300MM
Recommended Reading
Exxon Mobil Appoints Imperial’s Evers to Managerial Role
2025-01-10 - Sherri Evers, Imperial Oil’s senior vice president of sustainability, commercial development and product solutions, has been appointed general manager for Exxon Mobil North America Lubes.
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
Expand Energy Picked to Join S&P 500
2025-03-10 - Gas pureplay Expand Energy will be elevated on March 24 from its position in the S&P MidCap 400 index.
Exxon Slips After Flagging Weak 4Q Earnings on Refining Squeeze
2025-01-08 - Exxon Mobil shares fell nearly 2% in early trading on Jan. 8 after the top U.S. oil producer warned of a decline in refining profits in the fourth quarter and weak returns across its operations.
Italy's Intesa Sanpaolo Adds to List of Banks Shunning Papua LNG Project
2025-02-13 - Italy's largest banking group, Intesa Sanpaolo, is the latest in a list of banks unwilling to finance a $10 billion LNG project in Papua New Guinea being developed by France's TotalEnergies, Australia's Santos and the U.S.' Exxon Mobil.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.