TXO Partners (TXO) investor relations material

Executive summary

• Revenues rose 68% year-over-year to $150.9 million for Q2 2026, driven by higher oil prices and increased production from Williston Basin acquisitions, partially offset by asset sales and natural declines in other basins.

• Net income for Q2 2026 was $60.8 million, compared to a net loss of $0.1 million in Q2 2025, reflecting improved operating results and gains from asset sales.

• The company completed the sale of Cross Timbers Energy assets for $200 million and began winding down the joint venture, using proceeds to pay down debt and deferred acquisition payments.

Financial highlights

• Q2 2026 total revenues: $150.9 million (up from $89.9 million in Q2 2025).

• Net income: $60.8 million in Q2 2026 vs. net loss of $0.1 million in Q2 2025.

• Adjusted EBITDAX for Q2 2026: $55.0 million, up from $27.5 million in Q2 2025.

• Cash provided by operating activities for the first half of 2026: $82.5 million, up from $57.5 million in the prior year period.

• Cash available for distribution in Q2 2026: $34.6 million, up from $18.8 million in Q2 2025.

Outlook and guidance

• Management expects continued volatility in oil and gas prices due to geopolitical events and inflationary pressures.

• Anticipates funding 2026 capital development and distributions from operating cash flow and credit facility borrowings.

• Plans to spend approximately $80 million on drilling, completion, and facilities in 2026.