TXO Partners slides after launching equity offering for oil and gas assets acquisition
ReutersMay 13, 2025 9:56 PM
Shares of TXO Partners TXO.N down 10.1% to $15.90 after hours following acquisition-related equity offering news
Fort Worth, Texas-based E&P firm commences $175 mln common units offering
It plans to use net proceeds to fund $475 mln purchase of certain oil, gas and mineral assets owned by White Rock Energy, which are located in the Williston Basin of Montana and North Dakota
Pending acquisition expected to close in Q3 2025
If acquisition not completed, co says offering proceeds will be used to repay debt and for general purposes
Raymond James and Stifel acting as jt bookrunners for equity offering
With ~41.2 mln units outstanding, TXO has roughly $730 mln market cap
TXO shares on Tues closed up 1% at $17.68, up 5% YTD
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