Kimbell Royalty Partners

Kimbell Royalty Partners LP engages in owning and acquiring mineral and royalty interests in oil and natural gas properties. The company was founded by Robert Ravnaas, R. Davis Ravnaas, Brett G. Taylor on October 30, 2015 and is headquartered in Fort Worth, TX.

Earnings data Q3 2023

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Apollo Global Management

FORT WORTH, Texas , Sept. 13, 2023  /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and gas mineral and royalty interests in over 17 million gross acres in 28 states, today announced that it has closed the previously announced purchase of mineral and royalty interests (the "Acquired Assets") held by a private seller in a cash transaction valued at approximately $455 million (the "Acquisition").

Kimbell Royalty Partners Closes $455 Million Acquisition of Permian and Mid-Con Mineral and Royalty Interests in Cash Transaction

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The mean of analysts' price targets for Kimbell Royalty (KRP) points to a 36.3% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Predict a 36.31% Upside in Kimbell Royalty (KRP): Here's What You Should Know

Kimbell Royalty (KRP) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Earnings Estimates Moving Higher for Kimbell Royalty (KRP): Time to Buy?

The mean of analysts' price targets for Kimbell Royalty (KRP) points to a 35.2% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

How Much Upside is Left in Kimbell Royalty (KRP)? Wall Street Analysts Think 35.22%

After losing some value lately, a hammer chart pattern has been formed for Kimbell Royalty (KRP), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.

Kimbell Royalty (KRP) Forms 'Hammer Chart Pattern': Time for Bottom Fishing?

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KRP, ALX and SWRAY made it to the Zacks Rank #1 (Strong Buy) income stocks list on August 11, 2023.

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Kimbell is making a $455 million acquisition of LongPoint Minerals II. The acquisition is expected to boost Kimbell's distributable cash flow in the near-term, with projected DCF of $2.51 per unit in 2024. It is financing the acquisition with a combination of common and preferred units.

Kimbell Royalty Partners: Yield May Reach 13% In 2024 With 75% Payout Ratio

FORT WORTH, Texas , Aug. 2, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell") today announced the pricing of its public offering of 7,250,000 common units representing limited partner interests, at a public offering price of $14.00 per common unit.  The total gross proceeds of the offering, before underwriters' discounts and estimated offering expenses, will be approximately $101.5 million.

Kimbell Royalty Partners, LP Announces Pricing of Upsized Public Offering of Common Units

FORT WORTH, Texas , Aug. 2, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell") today announced that it has commenced an underwritten public offering of 6,000,000 common units representing limited partner interests, subject to market and other conditions. In connection with the offering, Kimbell intends to grant the underwriters an option to purchase up to 900,000 additional common units at the public offering price less the underwriting discount and commissions.

Kimbell Royalty Partners, LP Announces Public Offering of Common Units

Kimbell Royalty Partners, LP (NYSE:KRP ) Q2 2023 Results Conference Call August 2, 2023 11:00 AM ET Company Participants Rick Black - IR Bob Ravnaas - Chairman and CEO Davis Ravnaas - President and CFO Matthew Daly - COO Conference Call Participants Derrick Whitfield - Stifel Trafford Lamar - Raymond James Operator Greetings, and welcome to the Kimbell Royalty Partners Second Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Kimbell Royalty Partners, LP (KRP) Q2 2023 Earnings Call Transcript

HIGHLIGHTS Expected to be immediately accretive to distributable cash flow per unit, with estimated acceleration of accretion in 2024 and 2025 Targeted oil and gas mineral and royalty interests located in core positions of the Permian and Mid-Con basins, with over 4,000 gross producing wells on over 1 million gross acres Permian represents approximately 64% of reserve value, with approximately 36% in Mid-Continent1 Anticipated NTM average production of approximately 4,765 Boe per day (33% oil, 41% natural gas, 26% NGL), generating an estimated $64.3 million of cash flow at strip pricing as of July 26, 2023 (reflects transaction multiple of approximately 7.1x)2 Expected to increase daily production by over 26% and expected to decrease cash G&A per Boe by approximately 20%3 Following the transaction, Kimbell expects to maintain a peer-leading five-year decline rate of approximately 14% Expected to add 2.56 net DUCs and net permitted locations ("net wells"), an approximate 37% increase in Kimbell's current major net well line of site inventory Following the transaction, Kimbell expects net wells needed to maintain flat production to modestly increase from 4.9 net wells to 5.8 net wells In addition to net wells, the Seller portfolio is expected to add an estimated 16.63 net upside locations, increasing Kimbell's major undrilled inventory by approximately 25% Builds upon existing Permian Basin position, which remains Kimbell's leading basin in terms of production, active rig count, DUCs, permits and undrilled inventory Maintains conservative balance sheet metrics with expected pro forma net leverage4 of approximately 1.0x following transaction close FORT WORTH, Texas , Aug. 2, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and gas mineral and royalty interests in approximately 16 million gross acres in 28 states, today announced that it has agreed to acquire mineral and royalty interests (the "acquired assets") held by a private seller ("Seller") in a cash transaction valued at approximately $455 million, subject to purchase price adjustments and other customary closing adjustments (the "Acquisition").  Kimbell intends to fund the purchase price through a private placement of 6.00% Series A Cumulative Convertible Preferred Units ("Preferred Units") to fund managed by affiliates of Apollo (NYSE: APO) ("Apollo") and borrowings under the Company's $400 million revolving credit facility.

Kimbell Royalty Partners, LP Announces $455 Million Accretive Acquisition

Kimbell Royalty (KRP) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.55 per share a year ago.

Kimbell Royalty (KRP) Q2 Earnings and Revenues Beat Estimates

Record Q2 2023 Run-Rate Daily Production; Post-MB Minerals Acquisition Production Exceeded 18,000 Boe/d (6:1) for First Time Including a Full-Quarter of Acquired Production Record Market Share of U.S. Land Rig Count of 13.8% with 90 Active Rigs Drilling 1   Increase in Borrowing Base and Elected Commitment on Secured Revolving Credit Facility to $400 Million  and Maturity Extended Until June 2027 Superior Five-Year Annual PDP Decline Rate of 13% Requires Only an Estimated 4.9 Net Wells Annually to Maintain Flat Production Announces Q2 2023 Cash Distribution of $0.39 per Common Unit FORT WORTH, Texas, Aug. 2, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and natural gas mineral and royalty interests in over 125,000 gross wells across 28 states, today announced financial and operating results for the quarter ended June 30, 2023.  Second Quarter 2023 Highlights Record Q2 2023 run-rate daily production of 17,573 barrels of oil equivalent ("Boe") per day (6:1) Includes 45 days of production from the Company's $140.8 million acquisition of MB Minerals (the "Acquired Production"), which closed on May 17, 2023 with an effective production date of April 1, 2023 Including a full Q2 2023 impact of the Acquired Production, the revenues of which will be received by the Company, run-rate production was 18,554 Boe per day (6:1) Q2 2023 oil, natural gas and NGL revenues of $57.0 million, a decrease of 0.8% from Q1 2023, primarily attributable to a decline in realized commodity prices Q2 2023 net income of approximately $17.8 million and net income attributable to common units of approximately $13.5 million, as compared to $28.9 million and $23.3 million, respectively, from Q1 2023 Q2 2023 consolidated Adjusted EBITDA of $45.0 million, as compared to $42.3 million in Q1 2023 As of June 30, 2023, Kimbell's major properties2 had 6.86 net drilled but uncompleted wells ("DUCs") and net permitted locations on its acreage (3.89 net DUCs and 2.97 net permitted locations), compared to an estimated 4.9 net wells needed to maintain flat production Announced a Q2 2023 cash distribution of $0.39 per common unit, reflecting a payout ratio of 75% of cash available for distribution; implies a 9.9% annualized yield based on the August 1, 2023 closing price of $15.71 per common unit; Kimbell intends to utilize the remaining 25% of its cash available for distribution to repay a portion of the outstanding borrowings under Kimbell's revolving credit facility On June 13, 2023, Kimbell amended and extended its secured revolving credit facility through June 7, 2027 and increased borrowing base and elected commitments from $350 million to $400 million, an increase of 14% Conservative Balance Sheet with Net Debt to Trailing Twelve Month Consolidated Adjusted EBITDA of 1.1x Kimbell affirms its financial and operational guidance ranges for 2023 previously disclosed in its May 18, 2023 press release ________________________ 1 Based on Kimbell rig count of 90 and Baker Hughes U.S. land rig count of 653 on June 30, 2023.

Kimbell Royalty Partners Announces Record Second Quarter 2023 Results

Kimbell Royalty (KRP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Kimbell Royalty (KRP) Q2 Earnings Expected to Decline

FORT WORTH, Texas, July 24, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell"), a leading owner of oil and natural gas mineral and royalty interests in more than 125,000 gross wells across 28 states, today announced that it has moved up the timing of its second quarter 2023 financial results and will now release results on Wednesday, August 2, 2023, before the market opens. Kimbell will also declare its second quarter 2023 distribution concurrent with this release.

Kimbell Royalty Partners Announces Date for Second Quarter 2023 Earnings Release and Conference Call

FORT WORTH, Texas , June 28, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell"), a leading owner of oil and natural gas mineral and royalty interests in more than 125,000 gross wells across 28 states, today announced that it will release its second quarter 2023 financial results on Thursday, August 3, 2023, before the market opens. Kimbell will also declare its second quarter 2023 distribution concurrent with this release.

Kimbell Royalty Partners Announces Timing of Second Quarter 2023 Earnings Release and Conference Call

Kimbell recently closed on a $143.1 million Northern Midland Basin acquisition. This acquisition should boost its distributable cash flow per unit by nearly 20% in the near-term.

Kimbell Royalty Partners: Recent Acquisition Adds Nearly 20% To Distributable Cash Flow Per Unit

Relative to prior 2023 guidance issued with Q4 2022 earnings release, Kimbell expects: Record daily production, which at its midpoint for Q2 2023 and Q3-Q4 2023 guidance is a 7% and 10% increase, respectively, over the midpoint of prior 2023 guidance Increase in oil production mix with Permian leading all categories including revenue, production, DUCs, permits and PUDs Reduction in expected cash G&A per Boe, reflecting positive operating leverage FORT WORTH, Texas , May 18, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and gas mineral and royalty interests in over 16 million gross acres in 28 states, today announced updated 2023 guidance.  The revised guidance is in connection with the previously announced closing of the purchase of mineral and royalty interests held by MB Minerals, L.P.

Kimbell Royalty Partners Boosts 2023 Production Guidance

FORT WORTH, Texas , May 17, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and gas mineral and royalty interests in over 16 million gross acres in 28 states, today announced that it has closed the previously announced purchase of mineral and royalty interests (the "Acquired Assets") held by MB Minerals, L.P, a subsidiary of Sabalo Holdings, LLC (a portfolio company of EnCap Investments), in a cash and unit transaction valued at approximately $140.8 million 1 (the "Acquisition").  The purchase price for the Acquisition was comprised of $48.8 million in cash (approximately 35% of the total consideration), approximately 5.4 million common units of Kimbell Royalty Operating, LLC valued at $83.4 million, and approximately 0.6 million newly issued common units of Kimbell Royalty Partners, LP valued at $8.7 million.

Kimbell Royalty Partners Closes $141 Million Midland Basin Mineral and Royalty Acquisition

Kimbell Royalty Partners, LP (NYSE:KRP ) Q1 2023 Earnings Conference Call May 3, 2023 11:00 AM ET Company Participants Rick Black - Investor Relations Robert Ravnaas - Chairman and Chief Executive Officer Davis Ravnaas - President and Chief Financial Officer Matthew Daly - Chief Operating Officer Conference Call Participants John Annis - Stifel John Freeman - Raymond James Tim Rezvan - KeyBanc Capital Markets Operator Greetings, and welcome to the Kimbell Royalty Partners First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

Kimbell Royalty Partners, LP (KRP) Q1 2023 Earnings Call Transcript

Kimbell Royalty (KRP) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.13 per share a year ago.

Kimbell Royalty (KRP) Surpasses Q1 Earnings and Revenue Estimates

Record Q1 2023 Run-Rate Daily Production Record Rig Count of 94 Active Rigs Drilling Conservative Balance Sheet with Net Debt to Trailing Twelve Month Consolidated Adjusted EBITDA of 1.0x Previously announced MB Minerals Acquisition expected to close in Q2 2023 Announces Q1 2023 Cash Distribution of $0.35 per Common Unit FORT WORTH, Texas, May 3, 2023 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and natural gas mineral and royalty interests in over 124,000 gross wells across 28 states, today announced financial and operating results for the quarter ended March 31, 2023.  First Quarter 2023 Highlights Record Q1 2023 run-rate daily production of 17,014 barrels of oil equivalent ("Boe") per day (6:1) Does not include any days of production from the Company's recently announced $143.1 million acquisition from MB Minerals (the "Acquired Production"), which is expected to close in Q2 2023 with an effective production date of April 1, 2023 Q1 2023 oil, natural gas and NGL revenues of $57.4 million, a decrease of 10.9% from Q4 2022, primarily attributable to a decline in realized commodity prices Q1 2023 net income of approximately $28.9 million and net income attributable to common units of approximately $23.3 million, as compared to $35.2 million and $28.4 million, respectively, from Q4 2022 Q1 2023 consolidated Adjusted EBITDA of $42.3 million, as compared to $46.2 million in Q4 2022 Q1 2023 realized natural gas prices of $3.16 was approximately 19% above Henry Hub during due to premium prices received across several basins, including the DJ Basin and Bakken As of March 31, 2023, Kimbell's major properties1 had 6.74 net drilled but uncompleted wells ("DUCs") and net permitted locations on its acreage (3.55 net DUCs and 3.19 net permitted locations), compared to an estimated 4.5 net wells needed to maintain flat production As of March 31, 2023, Kimbell had a record 94 rigs actively drilling on its acreage, up from 92 rigs in Q4 2022 and representing 12.8%2 market share of all rigs drilling in the continental United States as of such time Announced a Q1 2023 cash distribution of $0.35 per common unit, reflecting a payout ratio of 75% of cash available for distribution; implies a 9.0% annualized yield based on the May 2, 2023 closing price of $15.63 per common unit; Kimbell intends to utilize the remaining 25% of its cash available for distribution to repay a portion of the outstanding borrowings under Kimbell's revolving credit facility ______________________________________ 1 These figures pertain only to Kimbell's major properties and do not include possible additional DUCs and permits from Kimbell's minor properties, which generally have a net revenue interest of 0.1% or below and are time consuming to quantify but, in the estimation of Kimbell's management, could add an additional 20% to Kimbell's net inventory.

Kimbell Royalty Partners Announces Record First Quarter 2023 Results

Kimbell Royalty (KRP) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

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