Kimbell Royalty Partners to Acquire Oil & Gas Assets for $150M

TL;DR

Kimbell buying $150M in oil/gas royalties, deal closes Q1 2025.

AI Summary

Kimbell Royalty Partners, LP announced on January 17, 2025, that it has entered into a definitive agreement to acquire certain oil and gas mineral and royalty interests from an undisclosed seller for $150 million. The acquisition is expected to close in the first quarter of 2025 and is anticipated to be immediately accretive to Kimbell's distributable cash flow per unit.

Why It Matters

This acquisition expands Kimbell's mineral and royalty portfolio, potentially increasing future revenue and distributions to unitholders.

Risk Assessment

Risk Level: medium — The acquisition involves a significant capital outlay and is subject to closing conditions, with potential integration risks and commodity price volatility.

Key Numbers

• $150 million — Acquisition Cost (Amount to be paid for new oil and gas mineral and royalty interests.)

Key Players & Entities

• Kimbell Royalty Partners, LP (company) — Registrant
• $150 million (dollar_amount) — Acquisition price
• January 17, 2025 (date) — Agreement date
• First quarter of 2025 (date) — Expected closing period

FAQ

Key Financial Figures

• $230.4 million — e for the Acquisition was approximately $230.4 million in cash , subject to purchase price adj

Filing Documents

• tm253623d1_8k.htm (8-K) — 26KB
• 0001104659-25-004886.txt ( ) — 195KB
• krp-20250117.xsd (EX-101.SCH) — 3KB
• krp-20250117_lab.xml (EX-101.LAB) — 33KB
• krp-20250117_pre.xml (EX-101.PRE) — 22KB
• tm253623d1_8k_htm.xml (XML) — 4KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): January 17, 2025 Kimbell Royalty Partners, LP (Exact name of registrant as specified in its charter) Delaware 1-38005 47-5505475 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 777 Taylor Street , Suite 810 Fort Worth , Texas 76102 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: ( 817 ) 945-9700 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to 12(b) of the Act: Title of each class: Trading symbol(s): Name of each exchange on which registered: Common Units Representing Limited Partnership Interests KRP New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 8.01. Other Events. On January 17, 2025, Kimbell Royalty Partners, LP, a Delaware limited partnership ("Kimbell") and Kimbell Royalty Operating, LLC, a Delaware limited liability company ("Opco" and, together with Kimbell, the "Buyer Parties"), completed the previously announced acquisition (the "Acquisition") of mineral and royalty interests pursuant to a purchase and sale agreement (the "Purchase Agreement"), dated January 7, 2025, by and among the Buyer Parties and Boren Minerals, a Saskatchewan partnership (the "Seller") . Pursuant to the terms of the Purchase Agreement, the Buyer Parties acquired certain mineral and royalty interests in oil and gas properties located under the Mabee Ranch in the Midland Basin in Texas. The purchase price for the Acquisition was approximately $230.4 million in cash , subject to purchase price adjustments and other customary closing adjustments. Kimbell funded the consideration with borrowings under its revolving credit facility and net proceeds from the previously announced public offering of common units. Other than in respect of the Acquisition, there is no relationship between the Seller and the Buyer Parties or any of the Buyer Parties' affiliates, directors or officers or any associate of their directors or officers. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KIMBELL ROYALTY PARTNERS, LP By: Kimbell Royalty GP, LLC, its general partner By: /s/ Matthew S. Daly Matthew S. Daly Chief Operating Officer Date: January 21, 2025

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View this 8-K filing on SEC EDGAR