Kimbell Royalty Stock Price, News & Analysis

Kimbell Royalty Partners, LP (NYSE: KRP) has initiated a public offering of 5,000,000 common units, with an option for underwriters to purchase an additional 750,000 units. The proceeds will mainly fund the acquisition of mineral and royalty interests from Hatch Royalty, LLC, while also addressing outstanding debts under its revolving credit facility. Citigroup and Raymond James are leading the offering, which is conducted under an effective Form S-3 registration statement. This announcement follows a recent filing regarding the Hatch Acquisition.

Kimbell Royalty Partners (NYSE: KRP) announced a $290 million acquisition of mineral and royalty interests from Hatch Royalty, enhancing its portfolio in the Permian Basin. The deal comprises $150 million in cash and approximately 7.3 million units valued at $140 million. The acquisition is projected to boost daily production by 14% and reduce cash G&A per Boe by 12%. With expected average production of 2,522 Boe/d in 2023, Kimbell aims to maintain a conservative leverage ratio of 1.1x post-transaction.

Kimbell Royalty Partners (KRP) reported a record daily production run-rate of 14,985 Boe/d in Q3 2022, marking an 8% growth in oil production from Q2 2022. Total revenues fell by 6% to $73.9 million, attributed to declining oil prices. Net income was approximately $43.8 million. The company declared a cash distribution of $0.49 per common unit, representing a 75% payout ratio of cash available for distribution. With 79 rigs actively drilling, Kimbell holds a significant market share and anticipates strong long-term demand for oil and gas due to underinvestment in the sector.

Kimbell Royalty Partners (NYSE: KRP) will release its third quarter 2022 financial results on November 3, 2022, before market opening. The company will also declare its third quarter distribution during this announcement. To discuss these results, Kimbell has scheduled a live conference call at 10:00 a.m. Central the same day. The call will be accessible via phone and online, with a replay available until November 10.

Kimbell operates in over 122,000 wells across 28 states, highlighting its extensive presence in the oil and gas sector.

Kimbell Royalty Partners (NYSE: KRP) reported a record run-rate production of 14,948 Boe/d, a 4% increase from Q1 2022, alongside record revenues of $78.6 million for Q2 2022, marking a 21% rise. Net income reached $43.3 million, with cash available for distribution at $0.74 per unit, leading to a declared cash distribution of $0.55, a 17% increase. The company also recorded a solid financial position, with a 1.2x net debt to EBITDA ratio. Despite recessionary fears, Kimbell remains bullish about the oil and gas industry.

Kimbell Royalty Partners (NYSE: KRP) will release its second quarter 2022 financial results on August 4, 2022, before market opening. The release will be accompanied by a distribution declaration. A conference call is scheduled for 10:00 a.m. Central to discuss the results, accessible by phone or webcast. Kimbell operates over 16 million gross acres across 28 states, owning interests in more than 122,000 gross wells, including 46,000 in the Permian Basin. For further details, visit kimbellrp.com.

Kimbell Royalty Partners (NYSE: KRP) reported strong Q1 2022 results, highlighting a 25% increase in oil, natural gas, and NGL revenues to $65.1 million. The net income reached $8.4 million, with a cash distribution of $0.47 per common unit, marking a 27% increase from Q4 2021. The company recorded an average daily production of 14,388 Boe and a significant 20% growth in rig count, totaling 73 rigs. Kimbell maintains a strong balance sheet, with approximately $226.5 million in debt and an undrawn capacity of $48.5 million.

Kimbell Royalty Partners, LP (NYSE: KRP) announced a cash distribution of $0.47 per common unit for Q1 2022, representing 75% of projected cash available for distribution. This payment is set for May 9, 2022, to unitholders recorded by May 2, 2022. Kimbell will allocate 25% of the available cash to reduce outstanding borrowings, contributing to a total of approximately $52.5 million paid down since May 2020. The distribution is expected to be free of dividend income taxes, categorized as a return of capital.

Kimbell Royalty Partners, LP (NYSE: KRP) announced it will report its first quarter 2022 financial results on May 5, 2022, prior to market opening. A live conference call will be held on that same day at 10:00 a.m. Central. Kimbell holds mineral and royalty interests across 16 million gross acres in 28 states, including over 122,000 gross wells and a significant presence in the Permian Basin. Investors can access the call via phone or webcast through the company's Investor Relations page.