Kimbell Royalty Partners filings document the partnership's oil and natural gas mineral and royalty business, its NYSE-listed common units representing limited partner interests, and disclosures made through its general partner governance structure. Current reports commonly furnish quarterly and annual operating results, Regulation FD investor presentations, and updates on production, royalty revenue, distributions and acreage activity.
The filing record also covers capital structure matters such as the senior secured reserve-based revolving credit facility, amendments to credit agreements, permitted borrowings, and common unit repurchase authorization. Annual and current reports provide formal disclosure on financial condition, audited financial statements, material agreements, and the partnership's obligations as a Delaware limited partnership.
Kimbell Royalty Partners LP reported sharply lower profitability for the quarter ended March 31, 2026, as hedge losses and weaker gas and NGL pricing offset steady production. Oil, natural gas and NGL revenues were $82.9 million versus $90.0 million a year earlier, while total revenues including derivatives fell to $65.5 million from $84.2 million.
Production was essentially flat at about 2.30 million Boe, but net income declined to $6.9 million from $25.9 million, with interest expense rising to $8.2 million and a larger $18.7 million loss on commodity derivatives. Adjusted EBITDA attributable to the partnership slipped to $62.3 million from $65.4 million, and cash from operations was $49.4 million.
The partnership continues to return capital: the board declared a $0.41 per common unit cash distribution for Q1 2026 and has begun executing a $100 million unit repurchase program, buying 1.0 million units in March and April at prices around the mid‑$14 range. Long‑term debt under the secured revolving credit facility stood near $440.9 million at quarter‑end.
Kimbell Royalty Partners reported first quarter 2026 revenue of $65.5 million, down from $84.2 million a year earlier, with net income falling to $6.9 million from $25.9 million. Net income attributable to common units was $4.0 million, or $0.04 per common unit.
Run-rate daily production averaged 25,522 Boe/d, 53% liquids and 47% natural gas, supported by 85 active rigs representing about 16% of the U.S. land rig count. Realized prices were $70.61/Bbl for oil, $3.32/Mcf for gas and $24.43/Bbl for NGLs, leading to a combined realized price of $37.02/Boe.
Consolidated Adjusted EBITDA was $68.0 million, with cash available for distribution on common units of $53.0 million, or $0.54 per common unit. The Board approved a cash distribution of $0.41 per common unit, with 25% of cash available for distribution used to repay about $14.5 million on the secured revolving credit facility.
EnCap-affiliated funds have reduced their stake in Kimbell Royalty Partners, LP to below 5% of outstanding common units. Amendment No. 6 to the Schedule 13D is characterized as an exit filing, as EnCap Partners GP ceased to be the beneficial owner of more than 5% of the common units on April 2, 2026.
Through entities including MB Minerals, L.P., Sabalo Midland Basin, Inc., EnCap Energy Capital Legacy Fund VIII, L.P. and EnCap Energy Capital Fund IX, L.P., the EnCap entities are deemed to beneficially own 4,907,224 common units, representing approximately 4.93% of an assumed 99,559,213 common units outstanding. MB Minerals directly holds 2,658,422 OpCo Common Units and an equivalent number of Class B Units, which together are exchangeable on a one-for-one basis into common units.
Kimbell Royalty Partners, LP Controller Blayne Rhynsburger reported an open-market sale of 6,609 common units representing limited partner interests at a price of $14.48 per unit on March 23, 2026. After this transaction, he directly holds 75,163 common units, indicating he retains a substantial position.
EnCap-affiliated entities filed Amendment No. 5 to update their beneficial ownership in Kimbell Royalty Partners, LP. They report beneficial ownership of 6,242,443 securities, representing about 6.27% of KRP common units.
This includes 2,860,686 common units held by EnCap Energy Capital Legacy Fund VIII and 3,381,757 OpCo Common Units and an equivalent number of Class B units held by MB Minerals, which together are exchangeable into the same number of common units. The 6.27% figure is based on an assumed 99,559,213 common units outstanding, reflecting recent issuances and a full exchange of MB Minerals’ Class B units. The EnCap entities state they share voting and dispositive power over these securities and expressly disclaim beneficial ownership beyond what is required under Section 13(d).
Kimbell Royalty Partners approved a common unit repurchase program allowing it to buy back up to $100 million of its outstanding common units. The program runs through December 31, 2027 and repurchases may be made in the open market or through privately negotiated transactions.
Kimbell plans to fund these repurchases with cash on hand, free cash flow from operations or permitted borrowings under its revolving credit facility. The board of directors may suspend, modify, extend or discontinue the program, and any purchases will follow Rule 10b-18 and depend on market and legal conditions.
Kimbell Royalty Partners, LP director Brett G. Taylor reported using common units to satisfy tax obligations tied to equity awards. On March 4, 2026, he disposed of 21,195 and 25,435 common units at $14.54 per unit in tax-withholding transactions, which are not open-market sales. Taylor continues to hold a substantial direct position, and additional common units are held indirectly through entities such as the Brett G. Taylor Royalty Trust, BGT Minerals, LLC, Kimbell GP Holdings, LLC and BRD Royalty Holdings LLC.
Kimbell Royalty Partners, LP controller Blayne Rhynsburger reported tax-related unit disposals. On March 3, 2026 and March 4, 2026, he disposed of common units representing limited partner interests to cover tax liabilities tied to equity awards.
These three transactions, all coded as F for “payment of exercise price or tax liability by delivering securities,” involved 1,523 units at $14.57 per unit, 1,442 units at $14.54 per unit, and 1,301 units at $14.54 per unit. After the final transaction, he held 81,772 common units directly.
Kimbell Royalty Partners, LP Chief Executive Officer Robert D. Ravnaas reported several tax-related unit dispositions. On March 4, 2026, he delivered 30,496 and 36,597 common units at prices of $14.54 per unit to satisfy tax obligations, leaving direct holdings of 652,092 and then 615,495 common units after each transaction. On March 3, 2026, he delivered 24,209 common units at $14.57 per unit for the same purpose, with 682,588 units directly owned afterward. Additional common units are held indirectly through a Spousal Lifetime Access Trust, Kimbell GP Holdings, LLC, and Princeton Royalties, LLC.
Kimbell Royalty Partners, LP insider Robert Davis Ravnaas, President and CFO, reported several transactions in common units representing limited partner interests. On March 3 and 4, 2026, he reported three code F transactions, each described as a tax-withholding disposition, covering 27,054, 32,464 and 20,870 common units at prices of $14.54 and $14.57 per unit.
After these dispositions, he directly held 1,140,743 common units as of the latest reported date. Additional common units are held indirectly through the GRR 2025 Trust, Westside Energy, LLC and Princeton Royalties, LLC, entities in which he has roles as co-trustee or member according to the footnotes.