TXO Partners, L.P. TXO
We are focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Our management team has significant industry experience acquiring and exploiting conventional oil and natural gas properties in multiple resource plays and basins. As a result of such experience, our operations focus primarily on enhancing the development and operation of producing properties through our concentration on efficiency and optimizing exploitation of current wells. Our current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico and Colorado and the Williston Basin of Montana and North Dakota, each of which we believe is characterized by low geologic risk, low decline rates and high recoveries relative to drilling and completion costs.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $363.1M | $285.4M | $357.5M | $449.6M | $219.4M | — |
| SG&A | $21.5M | $14.5M | $7.9M | $1.6M | $12.2M | — |
| Total operating expenses | $431.6M | $289.7M | $504.5M | $272.1M | $184.2M | — |
| Operating income | -$30.6M | -$6.9M | -$123.8M | -$25.7M | $44.2M | — |
| Interest expense | $17.0M | $7.9M | $4.4M | $8.2M | $5.9M | — |
| Net income | -$21.6M | $23.5M | -$104.0M | -$7.7M | $52.5M | — |
| EPS, basic | -0.43 | 0.66 | -3.44 | -0.31 | 2.10 | — |
| EPS, diluted | -0.43 | 0.65 | -3.44 | -0.31 | 2.10 | — |
| Shares, diluted (wtd. avg.) | $49.8M | $36.1M | $30.3M | $25.0M | $25.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $9.4M | $7.3M | $4.5M | $9.2M | $7.5M | $21.9M |
| Receivables | $52.4M | $39.7M | $32.2M | $52.3M | — | — |
| Total current assets | $95.3M | $64.4M | $55.2M | $74.0M | — | — |
| Property, plant and equipment | $1.24B | $951.4M | $629.3M | $836.4M | — | — |
| Total assets | $1.35B | $1.03B | $695.6M | $924.6M | — | — |
| Accounts payable | $28.0M | $18.2M | $8.6M | $14.7M | — | — |
| Total current liabilities | $153.9M | $66.3M | $39.1M | $147.5M | — | — |
| Long-term debt | $291.1M | $157.1M | $28.1M | $120.1M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $118.2M | $109.3M | $77.2M | $136.4M | $73.7M | — |
| Depreciation and amortisation | $96.6M | $52.4M | $44.3M | $41.4M | $39.9M | — |
| Stock-based compensation | $16.3M | $6.2M | $3.5M | $0 | $2.4M | — |
| Investing cash flow | -$335.3M | -$288.3M | -$46.2M | -$86.7M | -$227.8M | — |
| Financing cash flow | $219.2M | $181.8M | -$35.6M | -$48.1M | $139.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001559432-26-000005.
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| DVN | DEVON ENERGY CORP/DE | $52.87B | 11.5x | 5.4% |
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| OVV | Ovintiv Inc. | $17.84B | 13.5x | -3.1% |