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Kimbell Royalty Partners, LP - $KRP STOCK NEWS

Welcome to our dedicated page for Kimbell Royalty Partners, LP news (Ticker: $KRP), a resource for investors and traders seeking the latest updates and insights on Kimbell Royalty Partners, LP 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.

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Kimbell Royalty Partners (NYSE: KRP) announced that it will release its second quarter 2024 financial results on August 1, 2024, before market open. Concurrently, Kimbell will declare its second quarter 2024 distribution.

The company, which holds oil and natural gas mineral and royalty interests in over 129,000 wells across 28 states, will host a conference call at 10:00 a.m. Central (11:00 a.m. Eastern) on the same day. Interested parties can join the call by dialing 201-389-0869 or accessing the webcast via Kimbell's Investor Relations website. Replay of the call will be available until August 9, 2024.

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Kimbell Royalty Partners (NYSE: KRP) announced the passing of Ben J. Fortson, a board member with nearly 60 years of experience in the oil and gas industry.

Fortson was President and CEO of Fortson Oil Company since 1986 and served as Chief Investment Officer and Executive Vice President of the Kimbell Art Foundation since 1975. He began investing in oil and natural gas minerals and royalties in the late 1990s on behalf of the Kimbell Art Foundation, which was a significant sponsor of Kimbell Royalty Partners.

Fortson played a important role in the creation of Kimbell Royalty Partners, from its initial public offering in February 2017 to his tenure as a board member until 2024. His contributions, including his investing skills and vision, were key to the company's success.

Chairman and CEO Robert Ravnaas expressed deep sadness at Fortson's passing, highlighting his wise counsel, sense of humor, and friendship.

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Kimbell Royalty Partners (NYSE: KRP) announced record first-quarter 2024 results with impressive daily production, revenue, and EBITDA figures. The company achieved a 1.4% increase in production and a 4.2% increase in revenue from Q4 2023. Kimbell also reported a Q1 2024 cash distribution of $0.49 per common unit and a conservative balance sheet with low debt levels. The company affirms its financial and operational guidance for 2024, reflecting confidence in the industry and long-term shareholder value.

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Kimbell Royalty Partners, LP (NYSE: KRP) announced the release of its first quarter 2024 financial results and distribution declaration on May 2, 2024. The company owns oil and natural gas mineral and royalty interests in over 129,000 wells across 28 states.
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Kimbell Royalty Partners, LP (NYSE: KRP) has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, showcasing its strong presence in oil and natural gas mineral and royalty interests across 28 states.
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Kimbell Royalty Partners, LP (NYSE: KRP) reported record Q4 2023 production exceeding guidance, robust activity with 98 active rigs, and a superior PDP decline rate. Financially, they saw revenue growth, increased EBITDA, and a conservative balance sheet. The company announced a cash distribution and provided full-year 2024 guidance.
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Kimbell Royalty Partners, LP (NYSE: KRP) will release its fourth quarter 2023 financial results on February 21, 2024, before the market opens, and declare its fourth quarter 2023 distribution. The company owns oil and natural gas mineral and royalty interests in over 127,000 gross wells across 28 states.
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Kimbell Royalty Partners, LP (NYSE: KRP) announced a 37.5% increase in borrowing base and total commitments under its revolving credit facility, from $400 million to $550 million. The company's undrawn capacity would have been $239.6 million as of September 30, 2023. This enhancement provides Kimbell with greater flexibility and liquidity, reflecting significant growth over the last year.
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Kimbell Royalty Partners, LP (NYSE: KRP) announced record Q3 2023 run-rate daily production of 23,531 Boe/d, a 21.5% increase in oil, natural gas, and NGL revenues compared to Q2 2023, and a Q3 2023 net income of $18.5 million. The company also reported a record market share of the U.S. land rig count at 17% and boosted its Q4 2023 production guidance.
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Kimbell Royalty Partners, LP (NYSE: KRP) will release its Q3 2023 financial results on November 2, 2023, and declare its Q3 2023 distribution. Conference call scheduled on the same day at 10:00 a.m. Central.
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FAQ

What does Kimbell Royalty Partners, LP do?

Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States.

Where is Kimbell Royalty Partners located?

Kimbell Royalty Partners is based in Fort Worth, Texas.

In which basins does Kimbell operate?

Kimbell operates in several major onshore basins including the Permian Basin, Mid-Continent, Terryville/Cotton Valley/Haynesville, Appalachian Basin, Eagle Ford, Bakken/Williston Basin, and DJ Basin/Rockies/Niobrara.

How does Kimbell generate revenue?

Kimbell generates revenue from royalty payments received based on the sale of oil, natural gas, and NGL production from its properties.

What are recent achievements of Kimbell Royalty Partners?

Kimbell achieved record production, rig count, and permits in Q3 2023 and declared a distribution of $0.51 per common unit, a 31% increase from Q2 2023.

How has Kimbell strengthened its financial position?

Kimbell has paid down approximately $119.8 million of its secured revolving credit facility since May 2020 and increased its borrowing base and total commitments.

What is Kimbell’s market share in the U.S. land rig count?

Kimbell holds a significant market share of the U.S. land rig count, with approximately 17% recorded in Q3 2023.

What are Kimbell’s future prospects?

Kimbell continues to focus on strategic acquisitions and efficient production to deliver long-term unitholder value, with strong operational momentum as it heads into 2024.

How can investors learn more about Kimbell Royalty Partners?

Investors can visit Kimbell's official website at www.kimbellrp.com for more information.

What is included in Kimbell's portfolio?

Kimbell's portfolio includes mineral and royalty interests in approximately 17 million gross acres across 28 states, encompassing over 129,000 gross wells.

Kimbell Royalty Partners, LP

NYSE:KRP

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1.20B
64.51M
5.97%
42.62%
1.78%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
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