Fort Worth-based TXO Partners L.P. announced that Bob R. Simpson will retire as CEO of the company’s general partner, effective April 1, but will maintain in his position as chairman of the board of directors.
TXO Partners is a master limited partnership focused on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America.
With Simpson’s retirement, the company said Gary D. Simpson and Brent W. Clum will both be promoted to serve as co-chief executive officers.
“I’m proud of our success at TXO Partners, and my intent is to continue providing leadership from this key position on the Board. Importantly, our management team and ownership are supportive of this timely transition,” Bob R. Simpson said in a statement. “With his promotion, Gary brings decades of experience and a comprehensive skill set to the CEO office. Furthermore, Brent’s wisdom, dedication and in-depth perspective fortify the executive position. Based on our years of work together, we believe these two men possess a seasoned knowledge of how to create value for our holders. Their energy, tenacity and vision will inspire our journey ahead for TXO.”
Also, effective April 1, 2025, Gary Simpson will join the board of directors of the general partner. He currently serves as president of production and development and will maintain his existing responsibilities. Clum, currently president of business operations, CFO, and director of the general partner, also will continue in those roles alongside his new appointment.
‘True to our mission’
“No doubt, Bob is a legend within the energy industry. Over a remarkable career of fifty years, his entrepreneurial spirit, financial stewardship and dogged endurance have forged his all-around success. We have been blessed to learn from him along the way. I am honored to partner with Brent to take the reins of CEO going forward,” Gary D. Simpson said in a statement. “We will maintain true to our mission as a production and distribution company. For our investors, the talented team at TXO is ready, willing and able to carry the legacy of success onwards.”
Clum also cited Bob Simpson’s leadership.
“Bob is not only a visionary, he is a great leader, a generous mentor and a trusted friend,” Clum said in a statement. “I am proud of what we have built through our partnership and stewardship and am determined to extend this legacy, with Gary, of building a powerful business where our investors and our employees are rewarded. Our success at TXO Partners is just beginning.”
The company’s current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico and Colorado and the Williston Basin of Montana and North Dakota.
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