TXO Partners L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 01:53 am IST
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TXO Partners L.P. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 60.47 million compared to USD 92.88 million a year ago. Net loss was USD 2.55 million compared to net income of USD 24.48 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 0.98 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 0.98 a year ago.
For the six months, revenue was USD 218.87 million compared to USD 83.34 million a year ago. Net income was USD 81.26 million compared to net loss of USD 41.11 million a year ago. Basic earnings per share from continuing operations was USD 2.73 compared to basic loss per share from continuing operations of USD 1.64 a year ago. Diluted earnings per share from continuing operations was USD 2.68 compared to diluted loss per share from continuing operations of USD 1.64 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.
TXO PARTNERS, L.P. 
