Kimbell Royalty Partners(US:KRP)2025-05-08 12:27Company Overview - Kimbell Royalty Partners offers a unique annualized cash distribution yield of 15.2%[10] - Kimbell has interests in over 131,000 gross wells across over 17 million gross acres in the US[17] - Since its IPO in 2017, Kimbell has completed over $2 billion in M&A transactions and grown run-rate average daily production by over 8x[17] - Kimbell has returned 68% of the $18 per unit IPO price via quarterly cash distributions since 2017[17] Financial Highlights - Kimbell's Net Debt / TTM Adjusted EBITDA is 0.9x as of March 31, 2025[20] - Q1 2025 run-rate oil, natural gas and NGL revenues reached a record of $88.6 million[25, 29] - Q1 2025 consolidated Adjusted EBITDA was a record $75.5 million[23, 29] Asset Base and Drilling Inventory - Kimbell has a shallow PDP decline rate of approximately 14%[19] - The company possesses a net royalty acre position of approximately 158,350 acres[19] - Kimbell has identified 11,510 gross / 77.71 net total upside locations on major properties alone as of December 31, 2024[45] - Kimbell estimates that only 6.5 net wells are needed per year to maintain production, reflecting over 14 years of drilling inventory including major and minor locations[45] Tax Structure - Approximately 70% of the distribution to be paid on May 28, 2025, is estimated to constitute non-taxable reductions to the tax basis of each distribution recipient's ownership interest in Kimbell[13, 35, 67]