Kimbell Royalty Partners reports developments tied to its oil and natural gas mineral and royalty interests across major U.S. onshore basins. The partnership receives royalty revenue from operators' sales of oil, natural gas and NGL production, with updates commonly addressing production, drilling activity on its acreage, basin exposure, and results from its diversified mineral and royalty portfolio.
News also covers cash distributions to common unitholders, debt repayment and secured revolving credit facility activity, common unit repurchase authorization, annual report filings, and scheduled earnings releases and conference calls.
Kimbell Royalty Partners (KRP) will release its fourth quarter 2020 financial results on February 25, 2021, before the market opens, with a live conference call scheduled for 10:00 a.m. Central (11:00 a.m. Eastern). The company, based in Fort Worth, Texas, owns interests in over 96,000 gross wells across 28 states, including significant holdings in the Permian Basin. Investors can access the conference call via phone or webcast through Kimbell's Investor Relations website.
Kimbell Royalty Partners (NYSE: KRP) reported its Q3 2020 financial results, highlighting a daily production of 14,160 Boe, with revenues of $24.3 million, a significant 45% increase from Q2 2020. However, the company faced a net loss of $25.7 million, mainly due to a $22.2 million non-cash impairment expense. Kimbell declared a cash distribution of $0.19 per common unit, representing a 12.4% annualized yield. The company has 794 drilled but uncompleted wells and 30 active drilling rigs, holding a 12% market share in U.S. land rigs.
Kimbell Royalty Partners, LP (NYSE: KRP) announced a third-quarter 2020 cash distribution of $0.19 per common unit, representing 75% of projected cash available for distribution. The payment is set for November 9, 2020, to unitholders of record by November 2, 2020. Kimbell will allocate the remaining 25% to reduce outstanding debt under its credit facility. Additionally, Kimbell noted significant increases in commodity prices, with WTI Crude Oil averaging $40.89 and Natural Gas at $2.00. The annualized cash yield stands at 12.3% based on the October 23 closing price.
Kimbell Royalty Partners, LP (NYSE: KRP) will release its third quarter 2020 financial results on November 5, 2020, before market opens. A live conference call is scheduled for 10:00 a.m. Central on the same day. Kimbell, based in Fort Worth, Texas, manages oil and natural gas royalty interests across more than 96,000 gross wells in 28 states. Investors can join the call by phone or via webcast on Kimbell's Investor Relations site.
Kimbell Royalty Partners, LP (NYSE: KRP), based in Fort Worth, Texas, announced its participation in the Credit Suisse Oil & Gas Royalty Mineral Investor Day on September 16, 2020. The company is a prominent owner of oil and natural gas mineral and royalty interests, controlling rights in more than 13 million gross acres across 28 states and having stakes in over 96,000 gross wells, including 40,000 wells in the Permian Basin. To learn more, visit Kimbell's website.
Kimbell Royalty Partners, LP (NYSE: KRP) announced its Q2 2020 results, reporting a net loss of $76.8 million, significantly impacted by a $65.5 million non-cash impairment due to weak commodity prices. Daily production averaged 14,069 Boe per day, a 7% decline from Q1 2020. Revenue dropped to $16.8 million, reflecting challenges from the COVID-19 pandemic. The company raised its cash distribution payout ratio to 75% and issued a distribution of $0.13 per common unit. Despite current economic challenges, Kimbell feels optimistic about recovery prospects and its differentiated royalty model.
Kimbell Royalty Partners (NYSE: KRP) announced a cash distribution of $0.13 per common unit for Q2 2020, a 75% payout ratio of projected cash available for distribution. This reflects a significant increase from 50% in Q1 2020. The distribution will be paid on August 10, 2020, to unitholders on record as of August 3, 2020. Despite a recovery in commodity prices and U.S. economic indicators, Kimbell's management acknowledged ongoing risks, particularly from COVID-19. The company also plans to use 25% of cash for debt repayment.
Kimbell Royalty Partners (NYSE: KRP) will release its second quarter 2020 financial results on August 6, 2020, before market opening. A conference call is scheduled for 10:00 a.m. Central on the same day, accessible via phone or webcast. Kimbell leads in oil and natural gas mineral and royalty interests with stakes in over 96,000 gross wells across 28 states, including significant holdings in the Permian Basin. Investors can tune in for insights on financial metrics impacting performance.