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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 strong Q3 2021 results, with daily production hitting 14,083 Boe, a 1% increase from Q2 2021. Revenues rose 23% to $47.6 million, while net income surged 101% to approximately $7.5 million. The cash available for distribution reached $0.50 per unit, up 22%. Kimbell's debt stood at approximately $192.7 million, with plans to redeem Series A Preferred Units in Q1 2022. The company affirmed its 2021 guidance, buoyed by rising commodity prices and a 20% increase in drilling rigs.
Kimbell Royalty Partners (NYSE: KRP) announced a cash distribution of $0.37 per common unit for Q3 2021, representing 75% of projected cash available for distribution. The payout date is set for November 8, 2021, for unitholders of record by November 1. The remaining 25% will be used to reduce outstanding credit facility borrowings, totaling $36.9 million paid down since May 2020. Notably, average crude oil and natural gas prices rose by 6.9% and 48.3%, respectively, in Q3 compared to Q2, contributing to Kimbell’s cash yield of 9.7%.
Kimbell Royalty Partners (NYSE: KRP), a major player in oil and natural gas royalty interests, announced its third quarter 2021 financial results will be released on November 4, 2021, before market opens. The company, which has interests in over 97,000 gross wells across 28 states, will host a live conference call at 10:00 a.m. Central to discuss these results. Interested parties can join via phone or webcast from Kimbell's Investor Relations page.
Kimbell Royalty Partners (KRP) reported strong Q2 2021 financial results, achieving a run-rate production of 14,011 Boe/day, a 2% increase from Q1 2021. Revenues rose 7% to $38.8 million, with net income of $3.7 million, up from $0.5 million in Q1. Record Adjusted EBITDA reached $28.1 million. The company redeemed 55% of its Series A preferred units, simplifying its capital structure. Tax benefits are expected, with no federal income tax from 2021 to 2027 for common unitholders. A cash distribution of $0.31 per unit was announced, reflecting a 15% increase.
Kimbell Royalty Partners, LP (NYSE: KRP), a major oil and gas mineral owner, declared a cash distribution of $0.31 per common unit for Q2 2021. This payment represents 75% of the projected cash available for distribution and will be distributed on August 9, 2021. Kimbell plans to allocate the remaining 25% to reduce outstanding borrowings, totaling about $30.6 million since May 2020. The average WTI crude oil price increased by 14.4% to $66.09, while natural gas prices decreased by 17.4% to $2.94.
Kimbell Royalty Partners, LP (NYSE: KRP) will release its second quarter 2021 financial results on August 5, 2021, before market opening. A live conference call will follow at 10:00 a.m. Central that same day. Investors can access the call by dialing 201-389-0869 or via webcast on Kimbell's Investor Relations website. Kimbell is known for its extensive mineral and royalty interests across more than 97,000 gross wells in 28 states, including over 41,000 wells in the Permian Basin.
Kimbell Royalty Partners (NYSE: KRP) announced its participation in the Stifel 2021 Virtual Cross Sector Insight Conference, scheduled for June 9, 2021. The company, known for its extensive ownership of oil and natural gas mineral and royalty interests, operates over 97,000 gross wells across 28 states. Based in Fort Worth, Texas, Kimbell holds mineral rights in over 13 million acres and has a significant presence in the Permian Basin with over 41,000 wells. For more information, visit kimbellrp.com.
Kimbell Royalty Partners, LP (NYSE: KRP) reported its Q1 2021 financial results, highlighting a daily production of 13,721 Boe and a revenue increase of 40% from Q4 2020, totaling $36.4 million. Net income was approximately $537,000, improving from a significant loss in the previous quarter. The company announced a cash distribution of $0.27 per unit, a 42% increase, reflecting a 9.4% annualized yield. A detailed portfolio review revealed 10,160 gross drilling locations, projecting 15 years of inventory and an active rig count increase of 26%.
Kimbell Royalty Partners (NYSE: KRP) announced a cash distribution of $0.27 per common unit for Q1 2021, amounting to 75% of projected cash available for distribution. This payment is scheduled for May 10, 2021, to unitholders on record by May 3, 2021. The company aims to allocate the remaining 25% to reduce its credit facility borrowings, totaling approximately $25 million paid down since May 2020. The average crude oil price rose 36.1% to $57.79 per barrel, while natural gas prices increased 40.7% to $3.56 per MMBtu.
Kimbell Royalty Partners, LP (NYSE: KRP) will release its first quarter 2021 financial results on May 6, 2021, before market open. A conference call is scheduled for 10:00 a.m. Central on the same day, available via phone and webcast. Kimbell also announced participation in the UBS Global Oil and Gas Virtual Conference on March 26, 2021 and the World Oilman's Mineral and Royalty Conference on April 19-20, 2021. Kimbell owns interests in over 97,000 gross wells across the U.S.
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