TXO Partners acquires White Rock Elm Coulee assets for $350M; launches $175M equity offering

TXO Partners, L.P.

TXO to pay $350M cash ($70M deferred 1 yr) for Williston Basin assets; North Hudson takes 30% non-op interest for total $475M.
Deal expected Q3 2025; adds ~6,800 boe/d (93% liquids) and 25,000 Mboe proved developed reserves per Cawley Gillespie.
TXO launches $175M common unit offering (underwriters option for +$26.25M) to fund cash portion; not conditioned on closing.
If acquisition fails, offering proceeds will repay revolving credit facility; proceeds otherwise used for general partnership purposes.

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