TXO Energy Partners announces offering of 5M common units

TXO Partners, L.P. announced, subject to market and other conditions, the commencement of an underwritten public offering of 5M common units representing limited partner interests in TXO. TXO intends to use the net proceeds from this offering, if consummated, to fund a portion of the cash consideration for the previously announced asset acquisitions from Eagle Mountain Energy Partners and a private company. The offering is not conditioned on the consummation of either of the acquisitions. Pending the closing of the acquisitions, and in the event that either of the acquisitions are not completed, the proceeds from the offering will be used to repay the outstanding borrowings under TXO’s revolving credit facility and for general partnership purposes. Raymond James is acting as the sole book-running manager for the offering.