TXO Partners, L.P. announced it has entered into definitive purchase agreements to acquire oil and gas assets in the Elm Coulee field in Montana and the Russian Creek field in North Dakota for a total consideration of $243 million and 2.5 million common units of TXO. The sellers include Eagle Mountain Energy Partners, a Pearl Energy Investments portfolio company, and another private company. The acquisitions are expected to be accretive, adding approximately 4,500 daily barrels of oil equivalent production and 17,000 Mboe of proved developed reserves. Brent Clum, President of Business Operations and CFO, highlighted that the transaction aligns with TXO’s strategy and is expected to bolster cash flow and distributions. The transactions are anticipated to close in Q3 2024, pending customary closing conditions. TXO Partners is a master limited partnership focusing on the acquisition, development, and optimization of oil, natural gas, and natural gas liquids reserves in North America. Legal and financial advisors involved in the deal include Welborn Sullivan Meck & Tooley, Jefferies LLC, and O’Melveny & Myers LLP.

Energy, Private Equity,United States