Welcome to our dedicated page for Kimbell Royalty Partners, LP Common Units representing Partner Interests news (Ticker: KRP), a resource for investors and traders seeking the latest updates and insights on Kimbell Royalty Partners, LP Common Units representing Partner Interests stock.
Kimbell Royalty Partners, LP (NYSE: KRP) is a prominent oil and gas mineral and royalty company based in Fort Worth, Texas. Managed by its general partner, Kimbell Royalty GP, LLC, the company owns mineral and royalty interests in approximately 17 million gross acres across 28 states. This includes interests in more than 129,000 gross wells, with over 50,000 wells located in the prolific Permian Basin.
Kimbell's portfolio spans major onshore basins in the continental United States, including the Permian Basin, Mid-Continent, Terryville/Cotton Valley/Haynesville, Appalachian Basin, Eagle Ford, Bakken/Williston Basin, and DJ Basin/Rockies/Niobrara. The company's revenues are derived primarily from royalty payments received from operators based on the sale of oil, natural gas, and natural gas liquids (NGLs) produced on its properties.
Recent achievements highlight Kimbell's robust performance. In the third quarter of 2023, the company set new records in production, rig count, and permits, achieving a significant shift towards liquids in its production mix. Kimbell's strategic acquisitions and efficient operations have resulted in record-breaking production levels and solid financial health, with reported revenues of $67.2 million and a net income of approximately $18.5 million for the same quarter.
Kimbell has also strengthened its financial position by paying down significant portions of its secured revolving credit facility, with a total reduction of approximately $119.8 million since May 2020. Moreover, the company declared a Q3 2023 distribution of $0.51 per common unit, reflecting a 31% increase from the previous quarter.
Looking forward, Kimbell's ongoing projects and operational updates indicate strong future prospects. The company continues to maintain a high market share of the U.S. land rig count and has secured an increased borrowing base and total commitments under its revolving credit facility, enhancing liquidity and financial flexibility.
Kimbell Royalty Partners remains committed to delivering long-term value to its unitholders through strategic acquisitions, efficient production, and sound financial management. To learn more about Kimbell Royalty Partners, visit their website at www.kimbellrp.com.
Kimbell Royalty Partners (NYSE: KRP) will release its first quarter 2023 financial results on May 3, 2023, before the market opens. The company will also declare its first quarter distribution at that time. Following the earnings announcement, Kimbell has scheduled a conference call on the same day at 10:00 a.m. Central (11:00 a.m. Eastern), which will be broadcast live over the internet. Kimbell holds oil and natural gas mineral and royalty interests across more than 124,000 gross wells in 28 states, with significant ownership in the Permian Basin. Investors can connect via Kimbell's Investor Relations website for the webcast.
Kimbell Royalty Partners (KRP) has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2022, with the SEC. This report is accessible on Kimbell's website and the SEC's site. As a prominent player in the oil and gas sector, Kimbell owns mineral and royalty interests across 16 million gross acres in 28 states, including over 124,000 gross wells, with a significant presence in the Permian Basin. Investors can request a hard copy of the Annual Report, including audited financial statements, at no cost.
Kimbell Royalty Partners, LP (NYSE: KRP) reported record revenues of $64.4 million in Q4 2022, marking a 12.8% decline from Q3 2022 primarily due to lower commodity prices. The company's net income was approximately $35.2 million, down from $43.8 million in the previous quarter. Q4 run-rate production reached 17,176 Boe/d, supported by the acquisition of mineral interests from Hatch Royalty. The company announced a cash distribution of $0.48 per common unit and increased its credit facility to $350 million, reflecting a conservative balance sheet with a net debt to EBITDA ratio of 0.9x. Kimbell maintains positive growth expectations for 2023, projecting daily production at 17,200 Boe/d.
Kimbell Royalty Partners, LP (NYSE: KRP) announced the release date for its fourth quarter 2022 financial results, scheduled for February 23, 2023, before market opening. In this release, the company will also declare its fourth quarter distribution. A conference call will follow at 10:00 a.m. Central (11:00 a.m. Eastern), offering an opportunity for investors to engage directly with the management. Kimbell, based in Fort Worth, Texas, has significant holdings in oil and gas, owning interests in over 123,000 gross wells across 28 states.
Kimbell Royalty Partners, LP (NYSE: KRP) announced the closing of its acquisition of mineral and royalty interests from Hatch Royalty LLC, valued at approximately $270.7 million. This deal included $150.4 million in cash and 7.3 million common units worth about $120.3 million. As of October 1, 2022, the acquired assets produced about 2,072 Boe/d, with projections for 2023 at 2,522 Boe/d. The assets are primarily located in the Permian Basin, boosting Kimbell's significant mineral holdings across the U.S.
Kimbell Royalty Partners, LP (NYSE: KRP) has announced the pricing of its public offering of 6,000,000 common units at $17.75 each, generating approximately $106.5 million in gross proceeds. The offering is set to close on November 8, 2022. The funds will partially finance the acquisition of oil and natural gas interests from Hatch Royalty LLC and to repay existing revolving credit facility borrowings. Underwriters have the option to purchase an additional 900,000 units. Citigroup and Raymond James are the lead managers for this offering.
Kimbell Royalty Partners, LP (NYSE: KRP) has initiated a public offering of 5,000,000 common units, with an option for underwriters to purchase an additional 750,000 units. The proceeds will mainly fund the acquisition of mineral and royalty interests from Hatch Royalty, LLC, while also addressing outstanding debts under its revolving credit facility. Citigroup and Raymond James are leading the offering, which is conducted under an effective Form S-3 registration statement. This announcement follows a recent filing regarding the Hatch Acquisition.
Kimbell Royalty Partners (NYSE: KRP) announced a $290 million acquisition of mineral and royalty interests from Hatch Royalty, enhancing its portfolio in the Permian Basin. The deal comprises $150 million in cash and approximately 7.3 million units valued at $140 million. The acquisition is projected to boost daily production by 14% and reduce cash G&A per Boe by 12%. With expected average production of 2,522 Boe/d in 2023, Kimbell aims to maintain a conservative leverage ratio of 1.1x post-transaction.
Kimbell Royalty Partners (KRP) reported a record daily production run-rate of 14,985 Boe/d in Q3 2022, marking an 8% growth in oil production from Q2 2022. Total revenues fell by 6% to $73.9 million, attributed to declining oil prices. Net income was approximately $43.8 million. The company declared a cash distribution of $0.49 per common unit, representing a 75% payout ratio of cash available for distribution. With 79 rigs actively drilling, Kimbell holds a significant market share and anticipates strong long-term demand for oil and gas due to underinvestment in the sector.
Kimbell Royalty Partners (NYSE: KRP) will release its third quarter 2022 financial results on November 3, 2022, before market opening. The company will also declare its third quarter distribution during this announcement. To discuss these results, Kimbell has scheduled a live conference call at 10:00 a.m. Central the same day. The call will be accessible via phone and online, with a replay available until November 10.
Kimbell operates in over 122,000 wells across 28 states, highlighting its extensive presence in the oil and gas sector.
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