Welcome to our dedicated page for Kimbell Royalty news (Ticker: KRP), a resource for investors and traders seeking the latest updates and insights on Kimbell Royalty stock.
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.
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Kimbell Royalty Partners (NYSE: KRP) has announced an acquisition of mineral and royalty interests from MB Minerals, a subsidiary of Sabalo Holdings, for approximately $143.1 million. The deal is expected to enhance Kimbell's daily production by around 1,901 Boe (77% oil) and generate estimated NTM cash flow of $43.3 million. This acquisition, concentrated in the Northern Midland Basin across 60,000 gross acres, is projected to increase Kimbell's run-rate average daily production to over 19,000 boe/d while maintaining a strong balance sheet with a net leverage of approximately 1.0x. The transaction is set to close in Q2 2023, with an effective date of April 1, 2023.
Kimbell Royalty Partners (NYSE: KRP) will release its first quarter 2023 financial results on May 3, 2023, before the market opens. The company will also declare its first quarter distribution at that time. Following the earnings announcement, Kimbell has scheduled a conference call on the same day at 10:00 a.m. Central (11:00 a.m. Eastern), which will be broadcast live over the internet. Kimbell holds oil and natural gas mineral and royalty interests across more than 124,000 gross wells in 28 states, with significant ownership in the Permian Basin. Investors can connect via Kimbell's Investor Relations website for the webcast.
Kimbell Royalty Partners (KRP) has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2022, with the SEC. This report is accessible on Kimbell's website and the SEC's site. As a prominent player in the oil and gas sector, Kimbell owns mineral and royalty interests across 16 million gross acres in 28 states, including over 124,000 gross wells, with a significant presence in the Permian Basin. Investors can request a hard copy of the Annual Report, including audited financial statements, at no cost.
Kimbell Royalty Partners, LP (NYSE: KRP) reported record revenues of $64.4 million in Q4 2022, marking a 12.8% decline from Q3 2022 primarily due to lower commodity prices. The company's net income was approximately $35.2 million, down from $43.8 million in the previous quarter. Q4 run-rate production reached 17,176 Boe/d, supported by the acquisition of mineral interests from Hatch Royalty. The company announced a cash distribution of $0.48 per common unit and increased its credit facility to $350 million, reflecting a conservative balance sheet with a net debt to EBITDA ratio of 0.9x. Kimbell maintains positive growth expectations for 2023, projecting daily production at 17,200 Boe/d.