Kimbell Royalty Partners Reaffirms $625 Million Credit Facility and Extends Maturity

Core Viewpoint - Kimbell Royalty Partners has successfully completed a redetermination and amendment of its secured revolving credit facility, enhancing its capital structure and financial flexibility while lowering borrowing costs [1][2]. Group 1: Financial Details - The maximum facility size has been increased from $750 million to $1.5 billion [1][5]. - The borrowing base and total commitments have been reaffirmed at $625 million, with the maturity date extended to December 16, 2030 [2][5]. - The pricing grid has been reduced by 25 basis points, and a 10 basis point Credit Spread Adjustment has been removed, improving interest rate spreads by a total of 35 basis points [5]. Group 2: 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 [3]. - The company has mineral and royalty interests in over 131,000 gross wells, covering every major onshore basin in the continental United States [3]. Group 3: Management Commentary - The President and CFO of Kimbell emphasized that the refinancing strengthens the capital structure by providing lower borrowing costs and enhanced financial flexibility, reflecting the confidence of their 16 existing bank partners [2].