FORT WORTH, Texas--TXO Partners, L.P. $(TXO)$ has announced a definitive agreement to acquire producing assets in the Elm Coulee field in the Williston Basin from White Rock Energy, LLC, a portfolio company of Quantum Capital Group. The acquisition, valued at approximately $350 million with $70 million deferred for one year, will be in partnership with North Hudson Resource Partners LP, which will acquire a 30% non-operated interest. This transaction is set to enhance TXO's production with approximately 6,800 daily barrels of oil equivalent, predominantly liquid, and increase Proved Developed reserves to 25,000 Mboe. The transaction is anticipated to close in the third quarter of 2025, subject to customary conditions. TXO aims to strengthen its presence in the Elm Coulee field, bolstered by the field's estimated 4 billion barrels of oil in place and strong well economics.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.