Fort Worth-based TXO Partners said last week it agreed to sell substantially all assets owned by its Cross Timbers Energy joint venture for about $200 million. The company said the deal with multiple private buyers will simplify its portfolio and strengthen its focus on operated oil and gas assets in Permian Basin in Texas and New Mexico (Vacuum and Parker fields) and San Juan and Williston basins. The sale and purchase agreements were executed March 10.
Cross Timbers Energy JV is held 50 percent by TXO Partners; the other half is owned by affiliates of ExxonMobil and XTO Energy. Cross Timbers represented about 18 percent of TXO Partners’ revenues and 18 percent of proved reserves as of Dec. 31, 2025. TXO Partners total assets consist of 1.29 million gross (641,865 net) leasehold and mineral acres, and in 2025 it produced 28,268 boed.
Closing is expected in second quarter.