Kimbell Royalty Partners Closes $145.9 Million Permian Basin Mineral and Royalty Acquisition from Mesa Royalties

Rhea-AI Summary

Kimbell Royalty Partners (NYSE:KRP) closed a Permian Basin mineral and royalty acquisition from Mesa Royalties valued at approximately $145.9 million. Consideration includes $44.0 million cash and ~6.9 million newly issued OpCo common units valued at $101.9 million.

The Acquired Assets cover about 711 Net Royalty Acres (5,691 NRA normalized to 1/8th) across 16 Permian counties, with 70% in the Delaware Basin and 30% in the Midland Basin. Kimbell is entitled to all cash flow from production since June 1, 2026, with GAAP revenues recognized from the June 22, 2026 closing date. For the next 12 months from June 1, 2026, Kimbell estimates production of approximately 1,390 Boe/d, including 754 Bbl/d of oil, 315 Bbl/d of NGLs, and 1,928 Mcf/d of natural gas.

Positive

• Completed $145.9 million Permian mineral and royalty acquisition
• Acquisition consideration includes $44.0 million cash and $101.9 million in units
• Kimbell receives cash flow from acquired production effective June 1, 2026
• Estimated next-12-month production of 1,390 Boe/d from acquired assets
• 711 Net Royalty Acres across 16 Permian counties, 70% Delaware, 30% Midland

Negative

• Approximately 6.9 million new OpCo common units issued, creating potential dilution

News Market Reaction – KRP

+1.70%

+1.70% Session close to close

In the Jun 23 session, KRP gained 1.70%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement closes a $145.9 million Permian mineral acquisition adding roughly 1,390 Boe/d of ...

Analysis

This announcement closes a $145.9 million Permian mineral acquisition adding roughly 1,390 Boe/d of production. It continues KRP’s basin-focused expansion, but new equity issuance introduces dilution risk investors will monitor against future cash-flow delivery.

Key Figures

Acquisition value: $145.9 million Cash portion: $44.0 million Equity issued: 6.9 million units +5 more

8 metrics

Acquisition value $145.9 million Total consideration for Mesa Royalties mineral and royalty interests

Cash portion $44.0 million Cash component of purchase price (~30% of consideration)

Equity issued 6.9 million units New OpCo common units issued as part of consideration

Cash mix 30% Approximate cash share of total acquisition consideration

NTM production 1,390 Boe/d Estimated next-twelve-month output from Acquired Assets as of June 1, 2026

Oil volume 754 Bbl/d Estimated oil production from Acquired Assets (part of 1,390 Boe/d)

Mineral footprint 17 million gross acres Kimbell’s mineral and royalty interests across 28 states

Net royalty acres 711 NRA Approximate net royalty acres in 16 Permian counties being acquired

Previous Acquisition Reports

3 past events · Latest: May 19 (Positive)

Same Type Pattern 3 events

Date	Event	Sentiment	24h Move	Catalyst
May 19	Permian acquisition announce	Positive	-1.4%	Announced ~$147M Permian mineral and royalty acquisition funded mostly with equity.
Jan 17	Midland deal closing	Positive	-0.1%	Closed $230M Midland Basin mineral and royalty acquisition funded with equity and debt.
Jan 07	Midland acquisition announce	Positive	-5.3%	Announced ~$231M Midland Basin mineral and royalty acquisition with expected production uplift.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Past acquisition announcements and closings for KRP have typically been followed by modest negative price reactions.

Key Terms

boe/d, bbl/d, mcf/d, net royalty acres

4 terms

boe/d technical

"the Acquired Assets will produce approximately 1,390 Boe/d (754 Bbl/d of oil"

A measure of energy production that converts oil and gas output into a single daily figure — barrels of oil equivalent per day — so different fuels can be compared on the same scale. Think of it like converting miles and kilometers into one unit before comparing distances: investors use boe/d to judge how much total hydrocarbon output a company generates, estimate revenue potential, and compare production efficiency across firms or projects.

bbl/d technical

"1,390 Boe/d (754 Bbl/d of oil, 315 Bbl/d of NGLs, and 1,928 Mcf/d"

bbl/d stands for "barrels per day," a measure of how many oil barrels are produced, transported or consumed each day. One barrel equals 42 U.S. gallons, so bbl/d is like a speedometer for oil flow: it shows the rate at which a company or region generates revenue from oil or supplies the market. Investors watch bbl/d because changes in that rate affect company cash flow, commodity prices and supply-demand dynamics.

mcf/d technical

"315 Bbl/d of NGLs, and 1,928 Mcf/d of natural gas) (6:1)."

mcf/d stands for thousand cubic feet per day and measures the daily volume of natural gas produced, processed, or delivered. Investors use it like a flow-rate on a water faucet: higher mcf/d generally means more product to sell, which can translate into higher revenues, cash flow and valuation, while declines can signal operational issues, lower income or changing demand.

net royalty acres technical

"with approximately 711 Net Royalty Acres (5,691 NRA normalized to 1/8th)"

Net royalty acres measure the effective land area where an investor holds a royalty right to receive a portion of production revenue from oil, gas or mineral extraction, after accounting for the size of the ownership share. Think of it like owning a percentage of rent from specific apartments without managing the building — it shows the scale of potential passive income and helps investors compare revenue exposure and risk without bearing operating costs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FORT WORTH, Texas, June 22, 2026 /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 Mesa Royalties (portfolio companies of funds managed by NGP), in a cash and unit transaction valued at approximately $145.9 million¹ (the "Acquisition").  The purchase price for the Acquisition was comprised of $44.0 million in cash (approximately 30% of the total consideration) and approximately 6.9 million newly issued common units of Kimbell Royalty Operating, LLC ("OpCo") valued at $101.9 million.  Kimbell is entitled to all cash flow from production attributable to the Acquired Assets since the effective date of June 1, 2026.  Revenues and certain other operating statistics under generally accepted accounting principles will be recorded for the Acquisition beginning on the closing date of June 22, 2026. 

For the next twelve months, Kimbell estimates that, as of June 1, 2026, the Acquired Assets will produce approximately 1,390 Boe/d (754 Bbl/d of oil, 315 Bbl/d of NGLs, and 1,928 Mcf/d of natural gas) (6:1).  The Acquired Assets reflect a broad, diversified footprint across 16 Permian counties, with approximately 711 Net Royalty Acres (5,691 NRA normalized to 1/8^th) concentrated in the Delaware Basin (70%) and Midland Basin (30%).

About Kimbell Royalty Partners

Kimbell (NYSE: KRP) is a leading oil and gas mineral and royalty company based in Fort Worth, Texas.  Kimbell owns mineral and royalty interests in over 17 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 135,000 gross wells.  To learn more, visit http://www.kimbellrp.com.  

Forward-Looking Statements

This news release includes forward-looking statements. These forward-looking statements, which include statements regarding the anticipated benefits of the Acquisition and operational data with respect to the Acquisition, involve risks and uncertainties, including risks that the anticipated benefits of the Acquisition are not realized; risks relating to Kimbell's integration of the Acquisition assets; and risks relating to Kimbell's business, prospects for growth and acquisitions and the securities markets generally. Except as required by law, Kimbell undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Kimbell's filings with the Securities and Exchange Commission ("SEC").  These include risks inherent in oil and natural gas drilling and production activities, including risks with respect to low or declining prices for oil and natural gas that could result in downward revisions to the value of proved reserves or otherwise cause operators to delay or suspend planned drilling and completion operations or reduce production levels, which would adversely impact cash flow; risks relating to the impairment of oil and natural gas properties; risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and natural gas prices; risks relating to Kimbell's ability to meet financial covenants under its credit agreement or its ability to obtain amendments or waivers to effect such compliance; risks relating to Kimbell's hedging activities; risks of fire, explosion, blowouts, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks relating to delays in receipt of drilling permits; risks relating to unexpected adverse developments in the status of properties; risks relating to borrowing base redeterminations by Kimbell's lenders; risks relating to the absence or delay in receipt of government approvals or third-party consents; risks relating to acquisitions, dispositions and drop downs of assets; risks relating to Kimbell's ability to realize the anticipated benefits from and to integrate acquired assets, including the assets acquired in the Acquisition; and other risks described in Kimbell's Annual Report on Form 10-K and other filings with the SEC, available at the SEC's website at www.sec.gov.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release.

Contact:

Rick Black
Dennard Lascar Investor Relations
krp@dennardlascar.com 
(713) 529-6600

______________________________________ 1 Purchase price reflects Kimbell's $14.70 per unit closing price as of 6/22/2026.

 

View original content:https://www.prnewswire.com/news-releases/kimbell-royalty-partners-closes-145-9-million-permian-basin-mineral-and-royalty-acquisition-from-mesa-royalties-302806863.html

SOURCE Kimbell Royalty Partners, LP

FAQ

What acquisition did Kimbell Royalty Partners (NYSE:KRP) close on June 22, 2026?

Kimbell Royalty Partners closed a Permian Basin mineral and royalty acquisition from Mesa Royalties valued at about $145.9 million. According to Kimbell, the deal includes diversified assets across 16 Permian counties with both Delaware and Midland Basin exposure.

How is the $145.9 million KRP Permian acquisition from Mesa Royalties structured?

The acquisition is structured as a $145.9 million cash-and-unit transaction. According to Kimbell, consideration includes $44.0 million in cash and approximately 6.9 million newly issued OpCo common units valued at $101.9 million.

What production does Kimbell expect from the Mesa Royalties assets after the June 2026 closing?

Kimbell estimates the acquired assets will produce about 1,390 Boe/d for the next twelve months from June 1, 2026. According to Kimbell, this includes 754 Bbl/d oil, 315 Bbl/d NGLs, and 1,928 Mcf/d natural gas.

When will Kimbell Royalty Partners recognize revenue from the Mesa Royalties acquisition?

Kimbell is entitled to cash flow from production effective June 1, 2026, but GAAP revenue recognition begins at closing. According to Kimbell, revenues and selected operating statistics will be recorded starting June 22, 2026.

How large is the Permian footprint KRP gains from the Mesa Royalties acquisition?

The acquired Permian footprint totals about 711 Net Royalty Acres, or 5,691 NRA normalized to 1/8th. According to Kimbell, these mineral and royalty interests span 16 counties, with 70% in the Delaware Basin and 30% in the Midland Basin.

What does the issuance of 6.9 million OpCo units mean for Kimbell Royalty Partners investors?

The transaction includes issuing roughly 6.9 million new OpCo common units, which increases the unit base. According to Kimbell, these equity units represent about $101.9 million of the $145.9 million total consideration in the acquisition.