TXO Partners, L.P. completed a disposition involving multiple private buyers, including CTOC Energy, LLC for approximately $200 million in aggregate consideration (closed 2026-05-28).
“Partners, L.P. (the “Partnership”) holds a 50% interest, executed purchase and sale agreements with multiple private buyers to sell oil and gas properties totaling approximately $200 million in aggregate consideration (collectively, the “Cross Timbers Transactions”), including a purchase and sale agreement (the “Purchase Agreement”) with CTOC Energy, LLC (“CTOC”) for”
Material Agreements
TXO Partners, L.P. entered into Purchase Agreement with CTOC Energy, LLC valued at approximately $123.5 million in aggregate consideration (effective 2026-03-10).
“On March 10, 2026, Cross Timbers Energy, LLC (“Cross Timbers”), a joint venture in which TXO Partners, L.P. (the “Partnership”) holds a 50% interest, announced that it has executed purchase and sale agreements with multiple private buyers to sell oil and gas properties totaling approximately $200 million in aggregate consideration (collectively, the “Cross Timbers Transactions”), including a purchase and sale agreement (the “Purchase Agreement”) with CTOC Energy, LLC (“CTOC”) for approximately $123.5 million in aggregate consideration.”
M&A Transactions
TXO Partners, L.P. completed an acquisition involving White Rock Energy, LLC for $338.6 million (closed 2025-07-31).
“On July 31, 2025, TXO Partners, LP (“TXO”), through its wholly-owned subsidiary, MorningStar Operating LLC, completed an acquisition of producing properties in the Greater Williston Basin of Montana and North Dakota (“Williston Basin Properties”) from White Rock Energy, LLC, a Delaware limited liability company (“White Rock”) for cash consideration of $338.6 million, including a deferred payment of $70 million which is due on July 31, 2026.”
M&A Transactions
TXO Partners, L.P. completed an acquisition involving White Rock Energy, LLC for $338.6 million (closed 2025-07-31).
“The WRE Acquisition was completed under the previously reported purchase and sale agreement, dated as of May 13, 2025, and subject to customary purchase price adjustments, for cash consideration of $338.6 million, including a deferred payment of $70.0 million which is due on July 31, 2026.”
Lawrence S. Massaro was appointed as Director at TXO Partners, L.P..
“On March 31, 2025, the Board appointed Lawrence S. Massaro to serve as a member of the board of directors (the “ Board ”) of TXO Partners GP, LLC (the “ General Partner ”), the general partner of TXO Partners, L.P. (the “ Partnership ”), effective April 1, 2025.”
Gary D. Simpson was appointed as Director at TXO Partners, L.P..
“On March 19, 2025, the Board appointed Gary D. Simpson to serve as a member of the Board of the General Partner, effective April 1, 2025.”
Gary D. Simpson was appointed as Co-Chief Executive Officer at TXO Partners, L.P..
“On March 19, 2025, in connection with the resignation of Bob R. Simpson, the Board appointed Brent W. Clum and Gary D. Simpson to serve as Co-Chief Executive Officers, effective April 1, 2025.”
Brent W. Clum was appointed as Co-Chief Executive Officer at TXO Partners, L.P..
“On March 19, 2025, in connection with the resignation of Bob R. Simpson, the Board appointed Brent W. Clum and Gary D. Simpson to serve as Co-Chief Executive Officers, effective April 1, 2025.”
Bob R. Simpson resigned as Chief Executive Officer at TXO Partners, L.P..
“On March 19, 2025, Bob R. Simpson resigned from his position as Chief Executive Officer of TXO Partners GP, LLC (the “General Partner”), the general partner of TXO Partners, L.P. (the “Partnership”), effective April 1, 2025.”
M&A Transactions
TXO Partners, L.P. completed an acquisition involving Eagle Mountain Energy Partners, LLC and VR4-ELM, LP (closed 2024-08-30).
“the Partnership and its wholly-owned subsidiary, Morningstar Operating LLC, closed the previously announced acquisition of certain producing oil and gas assets located in the Williston Basin of Montana and North Dakota from Eagle Mountain Energy Partners, LLC, a Delaware limited liability company (“EMEP”), and VR4-ELM, LP, a Texas limited partnership (“Vendera” and together with EMEP, the “EMEP Sellers”)”
Keith A. Hutton changed role as Executive Vice President at TXO Partners, L.P..
“Effective November 5, 2024, Mr. Hutton, will serve as Executive Vice President of the General Partner and will continue to serve as a member of the Board.”
Gary D. Simpson was appointed as President of Production and Development at TXO Partners, L.P..
“On November 5, 2024, TXO Partners, L.P. (the “Partnership”) announced the appointment of Gary. D. Simpson as the Partnership’s President of Production and Development, effective as of November 5, 2024, succeeding Keith A. Hutton.”
M&A Transactions
TXO Partners, L.P. completed an acquisition involving EMEP Acquisitions, LLC and VR4-ELM, LP for $241.8 million in cash and 2,500,000 common units (closed 2024-08-30).
“as of June 25, 2024, by and among the Purchaser Parties and the EMEP Sellers (the “Purchase and Sale Agreement”). The total consideration for the EMEP Acquisition consisted of $241.8 million in cash (the “EMEP Cash Consideration”) and 2,500,000 common units representing limited partner interests in the Partnership (the “EMEP Equity Consideration”), subject to”
Governance Changes
TXO Partners, L.P.: Adopted the Seventh Amended and Restated Agreement of Limited Partnership (effective 2023-01-31).
“On January 31, 2023, in connection with the closing of the Offering, the Sixth Amended and Restated Limited Partnership Agreement of MorningStar Partners, L.P. was amended and restated by the Seventh Amended and Restated Agreement of Limited Partnership of TXO Energy Partners, L.P. (as amended and restated, the “Partnership Agreement”).”
Governance Changes
TXO Partners, L.P.: Amended and restated certificate of limited partnership to change name and designate general partner (effective 2023-01-31).
“Effective January 31, 2023, in connection with the closing of the Offering, the Certificate of Limited Partnership of MorningStar Partners, L.P. was amended and restated in order to (i) change the name of the Partnership to TXO Energy Partners, L.P. and (ii) designate the General Partner as the general partner of the Partnership (the “Amended and Restated Certificate of Limited Partnership”).”
Material Agreements
TXO Partners, L.P. entered into Contribution Agreement with MorningStar Oil & Gas, LLC, MorningStar Partners II, L.P. and the Limited Partners party thereto (effective 2023-01-31).
“In connection with the closing of the Offering and pursuant to the Contribution and Exchange Agreement entered into by and among the Partnership, MorningStar Oil & Gas, LLC, MorningStar Partners II, L.P., a Delaware limited partnership (“MSP II”) and the Limited Partners party thereto (as defined in the Sixth Amended and Restated Limited Partnership Agreement of MorningStar Partners, L.P.) on January 31, 2023 (the “Contribution Agreement”), each of the existing holders of common units in the Partnership contributed all of the outstanding equity interests in the Partnership to MSP II in exchange for equity interests in MSP II that are identical to the equity interests owned in the Partnership (the “Contribution”).”
Material Agreements
TXO Partners, L.P. entered into Underwriting Agreement with Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated, as representatives of the several underwriters (effective 2023-01-26).
“On January 26, 2023, the Partnership entered into an Underwriting Agreement (the “Underwriting Agreement”) by and among the Partnership, TXO Energy GP, LLC, a Delaware limited liability company (the “General Partner”), MorningStar Oil & Gas, LLC, a Delaware limited liability company, and Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated, as representatives of the several underwriters named therein (the “Underwriters”), providing for the offer and sale by the Partnership, and purchase by the Underwriters, of the Common Units.”
William H. Adams III was appointed as Director at TXO Partners, L.P..
“Appointment of Directors Effective January 31, 2023, Phillip R. Kevil and William (“Bill”) H. Adams III were appointed as members of the Board.”
Phillip R. Kevil was appointed as Director at TXO Partners, L.P..
“Appointment of Directors Effective January 31, 2023, Phillip R. Kevil and William (“Bill”) H. Adams III were appointed as members of the Board.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.