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.
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Bob Simpson-led TXO Partners Buys Williston Basin Assets for Nearly $300MM
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