KRP Closes Acquisition of Royalty Interests in the Midland Basin

Acquisition Details - Kimbell Royalty Partners LP (KRP) has acquired mineral and royalty interests in the Midland Basin for approximately $230 million, with the final purchase amount subject to post-closing adjustments [1] - The acquired assets produced approximately 1,842 barrels of oil equivalent per day (Boe/d) as of October 1, 2024, including 1,125 barrels of oil per day (Bbls/d), 410 Bbls/d of NGLs, and 1,842 thousand cubic feet per day of natural gas (Mcf/d) [2] - The assets are located under the Mabee Ranch in the Midland Basin, primarily in Martin County (63% of interests) and Andrews County (37% of interests) [3] Future Production Estimates - For full-year 2025, Kimbell expects production from the acquired assets to remain at approximately 1,842 Boe/d, with a mix of 1,104 Bbls/d of oil, 424 Bbls/d of NGLs, and 1,881 Mcf/d of natural gas [4] Financing Structure - Kimbell financed the acquisition through a combination of an underwritten public offering of common units and borrowed funds under its revolving credit facility [2] Company Overview - Kimbell Royalty Partners LP holds mineral and royalty interests across 28 states in the United States [4] Market Position - KRP currently holds a Zacks Rank 3 (Hold), while other energy sector stocks like Sunoco LP and Equinor ASA have higher rankings, indicating stronger market positions [5]