Kimbell Royalty Partners, LP Announces Pricing of Upsized Public Offering of Common Units

Core Viewpoint - Kimbell Royalty Partners, LP has announced an upsized public offering of 10,000,000 common units at a price of $14.90 per unit, aiming to raise approximately $149.0 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The offering includes an option for underwriters to purchase an additional 1,500,000 common units at the public offering price [1]. - The expected closing date for the offering is January 9, 2025, subject to customary closing conditions [1]. Group 2: Use of Proceeds - Kimbell plans to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility [2]. - The funds will also be utilized for the cash portion of the purchase price and related expenses for the acquisition of oil and natural gas mineral and royalty interests from Boren Minerals [2]. Group 3: Management and Registration - Citigroup, J.P. Morgan, RBC Capital Markets, BofA Securities, and Mizuho are acting as joint-bookrunning managers for the offering, with additional co-managers involved [3]. - The common units will be issued under an effective shelf registration statement previously filed with the SEC [4]. Group 4: Company Overview - Kimbell Royalty Partners is a leading oil and gas mineral and royalty company based in Fort Worth, Texas, owning interests in approximately 17 million gross acres across 28 states [5]. - The company has ownership in over 129,000 gross wells, including more than 50,000 wells in the Permian Basin [5].