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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) reported a record run-rate production of 14,948 Boe/d, a 4% increase from Q1 2022, alongside record revenues of $78.6 million for Q2 2022, marking a 21% rise. Net income reached $43.3 million, with cash available for distribution at $0.74 per unit, leading to a declared cash distribution of $0.55, a 17% increase. The company also recorded a solid financial position, with a 1.2x net debt to EBITDA ratio. Despite recessionary fears, Kimbell remains bullish about the oil and gas industry.
Kimbell Royalty Partners (NYSE: KRP) will release its second quarter 2022 financial results on August 4, 2022, before market opening. The release will be accompanied by a distribution declaration. A conference call is scheduled for 10:00 a.m. Central to discuss the results, accessible by phone or webcast. Kimbell operates over 16 million gross acres across 28 states, owning interests in more than 122,000 gross wells, including 46,000 in the Permian Basin. For further details, visit kimbellrp.com.
Kimbell Royalty Partners (NYSE: KRP) reported strong Q1 2022 results, highlighting a 25% increase in oil, natural gas, and NGL revenues to $65.1 million. The net income reached $8.4 million, with a cash distribution of $0.47 per common unit, marking a 27% increase from Q4 2021. The company recorded an average daily production of 14,388 Boe and a significant 20% growth in rig count, totaling 73 rigs. Kimbell maintains a strong balance sheet, with approximately $226.5 million in debt and an undrawn capacity of $48.5 million.
Kimbell Royalty Partners, LP (NYSE: KRP) announced a cash distribution of $0.47 per common unit for Q1 2022, representing 75% of projected cash available for distribution. This payment is set for May 9, 2022, to unitholders recorded by May 2, 2022. Kimbell will allocate 25% of the available cash to reduce outstanding borrowings, contributing to a total of approximately $52.5 million paid down since May 2020. The distribution is expected to be free of dividend income taxes, categorized as a return of capital.
Kimbell Royalty Partners, LP (NYSE: KRP) announced it will report its first quarter 2022 financial results on May 5, 2022, prior to market opening. A live conference call will be held on that same day at 10:00 a.m. Central. Kimbell holds mineral and royalty interests across 16 million gross acres in 28 states, including over 122,000 gross wells and a significant presence in the Permian Basin. Investors can access the call via phone or webcast through the company's Investor Relations page.
Kimbell Royalty Partners (NYSE: KRP) filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, with the SEC. The report is accessible via Kimbell's website and the SEC's platform. Kimbell owns mineral and royalty interests in over 16 million gross acres across 28 states, with significant holdings in the Permian Basin, comprising more than 46,000 wells. Investors can request a hard copy of the Annual Report, including audited financial statements, for free by contacting Kimbell Investor Relations.
Kimbell Royalty Partners (NYSE: KRP) reported strong Q4 2021 results, achieving a record net income of approximately $30.7 million and revenue of $55.7 million, largely driven by improved commodity prices. The company's daily production reached 14,023 Boe, with a full impact of the recent acquisition raising this to 14,521 Boe. Kimbell announced a cash distribution of $0.37 per common unit and redeemed remaining preferred units, enhancing its capital structure. Additionally, it has a strong operational position with 61 rigs active, a debt-to-EBITDA ratio of 1.7x, and plans for strategic growth in 2022.
Kimbell Royalty Partners (NYSE: KRP) announced a cash distribution of $0.37 per common unit for Q4 2021, representing 75% of projected cash available for distribution. This payout will be made on February 7, 2022 to unitholders of record as of January 31, 2022. The remaining 25% will be used to pay down debt, contributing to a total pay down of approximately $44.5 million since May 2020. Kimbell's mineral and royalty interests cover over 13 million acres across 28 states with ownership in more than 122,000 wells.
Kimbell Royalty Partners (NYSE: KRP) announced a cash distribution of $0.37 per common unit for Q4 2021, representing 75% of the projected cash available for distribution. This payment is scheduled for February 7, 2022, to unitholders on record as of January 31, 2022. Kimbell will allocate the remaining 25% to reduce borrowings under its credit facility, having already reduced its debt by approximately $44.5 million since May 2020. Kimbell owns interests in over 122,000 wells across 28 states, emphasizing its robust position in the oil and gas sector.
Kimbell Royalty Partners, LP (NYSE: KRP) announced its fourth quarter 2021 financial results will be released on February 24, 2022, before market opening. A conference call is scheduled for the same day at 10:00 a.m. Central to discuss the results, which will be broadcast live online. Kimbell, based in Fort Worth, Texas, owns mineral and royalty interests across over 13 million acres in 28 states, including more than 121,000 gross wells and 46,000 wells in the Permian Basin.
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