Here are the 10-K annual reports from Kimbell Royalty Partners, LP Common Units (KRP) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow KRP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full KRP filings page.
Kimbell Royalty Partners, LP files its Annual Report describing a large, diversified oil and gas royalty portfolio with no drilling or operating cost obligations. The partnership owns mineral and royalty interests in about 12.3 million gross acres and overriding royalty interests in about 4.7 million gross acres across 28 U.S. states, covering more than 133,000 wells.
As of December 31, 2025, proved developed reserves totaled 72,944 MBoe, 51.2% liquids. 2025 production was 9.4 million Boe, or 25,760 Boe/d, with revenue sourced 62% from oil, 25% from natural gas and 13% from NGLs. Average realized prices were $63.84/Bbl for oil, $2.93/Mcf for gas and $23.15/Bbl for NGLs.
The business model emphasizes growing cash distributions through acquisitions and ongoing development by working interest operators such as ConocoPhillips and other majors, with the top ten operators providing 47.1% of revenues. The partnership has a $625 million revolving credit facility and repaid $56.5 million in 2025, which reduced cash available for distribution. Distributions on common units are not guaranteed and are structurally subordinated to preferred and Class B unit distributions and sensitive to commodity prices.