Consolidated Adjusted EBITDA (1)203,233Trailing Twelve Month Consolidated Adjusted EBITDA$268,058Long-term debt (as of 12/31/25)441,500Cash and cash equivalents (as of 12/31/25) (43,977)Net debt (as of 12/31/25)$397,523Net Debt to Trailing Twelve Month Consolidated Adjusted EBITDA1.5x(1) Consolidated Adjusted EBITDA for each of the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025 was previously reported in a news release relating to the applicable quarter, and the reconciliation of net in ...

Core Insights - Kimbell Royalty Partners reported a strong operational performance with 88 active rigs, representing a 17% market share of the U.S. land rig count, despite a 7% decline in overall U.S. land rig activity [1][3][4] - The company announced a cash distribution of $0.38 per common unit for Q2 2025, reflecting a 10.3% annualized yield based on the closing price on August 6, 2025 [4][8] - Kimbell's financial results for Q2 2025 included total revenues of $86.5 million and net income of approximately $26.7 million, with a consolidated Adjusted EBITDA of $63.8 million [10][11][35] Operational Performance - The active rig count on Kimbell's acreage decreased by only 2% quarter over quarter, while the overall U.S. land rig count dropped by 7% [3] - The company experienced a 9% increase in net DUCs (drilled but uncompleted wells) quarter over quarter, primarily driven by the Permian Basin [3][8] - Kimbell's average daily production for Q2 2025 was 25,355 barrels of oil equivalent (Boe) per day, with approximately 47% from natural gas and 53% from liquids [16] Financial Highlights - Kimbell's Q2 2025 revenues from oil, natural gas, and NGLs totaled $74.7 million, with a net income attributable to common units of approximately $2.0 million [10][35] - The company reported cash G&A (general and administrative) expenses of $9.6 million, with cash G&A per BOE at $2.36, reflecting operational discipline [12][35] - As of June 30, 2025, Kimbell had approximately $462.1 million in debt, with a net debt to trailing twelve-month consolidated Adjusted EBITDA ratio of approximately 1.6x [13][36] Distribution and Debt Management - The Board of Directors approved a cash distribution payment of 75% of cash available for distribution for Q2 2025, amounting to $0.38 per common unit [6][33] - Kimbell plans to allocate the remaining 25% of cash available for distribution to pay down approximately $13.6 million of outstanding borrowings under its secured revolving credit facility [6][33] - The distribution is expected to be considered a return of capital, enhancing after-tax returns for unitholders [4][7]