TXO Partners L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 09:30 pm
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TXO Partners L.P. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 69.87 million compared to USD 120.7 million a year ago. Net income was USD 8.48 million compared to USD 55.72 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 2.23 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 2.23 a year ago.
For the nine months, revenue was USD 288.75 million compared to USD 204.04 million a year ago. Net income was USD 89.74 million compared to USD 14.61 million a year ago. Basic earnings per share from continuing operations was USD 2.98 compared to USD 0.58 a year ago. Diluted earnings per share from continuing operations was USD 2.93 compared to USD 0.58 a year ago.
TXO Partners, L.P. is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid (NGL) reserves in North America. The Companyâs acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado. Its assets consist of approximately 845,820 gross (371,796 net) leasehold and mineral acres located primarily in the Permian Basin and San Juan Basin. Its assets include a 50% interest in Cross Timbers Energy, LLC (Cross Timbers). As operator, it designs and manages the development, recompletion or workover for all of the wells it operates and supervises operation and maintenance activities on a day-to-day basis. It markets the majority of the natural gas, NGL, crude oil and condensate production from the properties on which it operates. It also markets products produced by third party working interest owners.