TXO Partners, L.P.: insider trades · United States · SEC (Form 4)

About TXO Partners, L.P.

TXO Partners, L.P. is a U.S.-listed master limited partnership traded on the NYSE, with an additional listing on NYSE Texas under the ticker TXO. For investors, TXO is best understood as a conventional upstream oil and gas partnership focused on the acquisition, development, optimization, and exploitation of oil, natural gas, and natural gas liquids (NGL) reserves in North America. The company is headquartered in Fort Worth, Texas, placing it at the center of the U.S. energy industry. ([txopartners.com](https://www.txopartners.com/investors/news-events/press-releases/detail/27/txo-partners-declares-a-first-quarter-2026-distribution-of?utm_source=openai)) TXO’s corporate roots go back to January 2012, when it was formed as MorningStar Partners, L.P. It adopted the TXO Partners name in May 2023, marking a more visible repositioning around long-life, conventional reserve management and a distribution-focused partnership model. The company’s structure and communication emphasize cash generation, portfolio optimization, and disciplined capital allocation rather than aggressive high-growth drilling. ([txopartners.com](https://www.txopartners.com/investors/sec-filings/all-sec-filings/content/0001559432-24-000011/txo-20231231.htm?utm_source=openai)) Operationally, TXO is concentrated in three core basins: the Permian Basin in West Texas and New Mexico, the San Juan Basin in New Mexico and Colorado, and the Williston Basin in Montana and North Dakota. That footprint gives the partnership exposure to established producing areas with relatively low geologic risk, lower decline profiles, and meaningful redevelopment potential. In competitive terms, TXO occupies a niche as a mid-sized conventional upstream player, differentiating itself from larger shale-oriented E&Ps by focusing on mature assets and portfolio engineering. ([txopartners.com](https://www.txopartners.com/investors/sec-filings/all-sec-filings/content/0001193125-26-076813/txo-20251231.htm?utm_source=openai)) The company’s main business lines are straightforward: produce crude oil, natural gas, and NGL; acquire and integrate producing assets; optimize existing fields; and selectively deploy capital where returns and decline characteristics are attractive. TXO also highlights hedging as a core financial tool, using a full hedge position in 2026 to help protect the balance sheet and support distributions amid commodity-price volatility. ([txopartners.com](https://www.txopartners.com/investors/news-events/press-releases/detail/27/txo-partners-declares-a-first-quarter-2026-distribution-of?utm_source=openai)) Recent developments have been important for the equity story. In 2025, TXO completed a large acquisition in the Williston Basin, which management has tied to the company’s longer-term production and distribution outlook. In 2026, TXO announced asset sale agreements involving its Cross Timbers joint venture, with expected proceeds intended in part to cover a deferred payment related to the 2025 White Rock Energy acquisition due on July 31, 2026. Management also said the company’s 2026 capital plan is heavily weighted toward Williston Basin development, reinforcing the view that TXO is actively reshaping its portfolio while preserving distributions. ([txopartners.com](https://www.txopartners.com/investors/sec-filings/all-sec-filings/content/0001193125-26-204137/0001193125-26-204137.pdf?utm_source=openai))