Partners’ Capital

9 Months Ended

Sep. 30, 2024

During 2024, we have paid $61.6 million of distributions to our Common unitholders. The following is a summary of distributions paid in 2024:


Period	Distribution per Unit		Payment Date
Fourth Quarter 2023	$	0.58	3/28/2024
First Quarter 2024	$	0.65	5/29/2024
Second Quarter 2024	$	0.57	8/27/2024

On November 5, 2024, the board of directors of our general partner declared a cash distribution of $0.58 per common unit for the quarter ended September 30, 2024. The distribution will be paid on November 22, 2024, to unitholders of record on November 15, 2024.

On June 28, 2024, we completed an underwritten public offering for the sale of 6.5 million common units at a price of $20.00 per common unit resulting in proceeds of $122.5 million net of underwriting discounts, commissions and other costs (“the Offering”). On July 2, 2024, we completed the sale of an additional 975,000 common units at a price of $20.00 per common unit pursuant to the underwriter’s exercise in full of its option to purchase additional common units in the Offering, resulting in additional proceeds of $18.7 million net of underwriting discounts, commissions and other costs. We used the net proceeds from the Offering to fund a portion of the cash consideration for the EMEP Acquisition and the KFOC Acquisition (Note 4).

On August 30, 2024, as part of the consideration paid in the EMEP Acquisition, we issued 2.5 million common units of TXO valued at $50.0 million (Note 4).