Latham & Watkins Represents TXO Energy Partners, L.P. in IPO

MorningStar Partners, L.P., which will be renamed “TXO Energy Partners, L.P.” (TXO), has announced the pricing of its initial public offering of 5,000,000 common units representing limited partner interests in TXO at price to the public of US$20.00 per common unit. TXO has granted the underwriters an option to purchase up to an additional 750,000 common units at the initial public offering price, less underwriting discounts and commissions. TXO’s common units trade on the New York Stock Exchange under the ticker symbol TXO. The offering is expected to close on January 31, 2023, subject to customary closing conditions.

Latham & Watkins LLP represents TXO in the offering with a capital markets team led by Houston/Austin partner Michael Chambers and Austin partner Mollie Duckworth, with associates Om Pandya, Anthony Tan, and Morgen Seim. Advice was also provided on tax matters by Houston partners Tim Fenn and Jim Cole, with associate Dylan White; on benefits & compensation matters by Houston counsel Krisa Benskin, with associate Dane Rebkowec; and on M&A matters by associates Rachel Ratcliffe and Brian Golde.