TXO Partners to acquire Williston Basin assets for $243M cash + 2.5M units; launches public offering

TXO Partners, L.P.

Acquires producing assets from Eagle Mountain Energy Partners and Kaiser-Francis for $243M cash plus 2.5M common units; expected close Q3 2024.
Assets add ~4,500 boe/d (~90% liquids) and 17,000 Mboe proved developed reserves per Cawley Gillespie as of April 1, 2024.
Launches underwritten public offering of 5M common units (with 750K option) to fund portion of cash consideration; Raymond James lead.
EMEP PSA includes $27.6M termination deposit; KFOC PSA includes $1.8M deposit.
Reserve report by Cawley Gillespie estimates PDP net PV10 of $307.1M at SEC pricing.

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