{"id":802226,"date":"2025-01-17T17:31:03","date_gmt":"2025-01-17T22:31:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction\/"},"modified":"2025-01-17T17:31:03","modified_gmt":"2025-01-17T22:31:03","slug":"kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction\/","title":{"rendered":"Kimbell Royalty Partners Closes $230 Million Acquisition of Midland Basin Mineral and Royalty Interests in Cash Transaction"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">FORT WORTH, Texas<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Jan. 17, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Kimbell Royalty Partners, LP (NYSE: KRP) (&#8220;Kimbell&#8221; or the &#8220;Company&#8221;), a leading owner of oil and gas mineral and royalty interests in over 17 million gross acres in 28 states,\u00a0today announced that it has closed the previously announced purchase of mineral and royalty interests (the &#8220;Acquired Assets&#8221;) held by a private seller in a cash transaction valued at approximately <span class=\"xn-money\">$230 million<\/span>, subject to post-closing adjustments (the &#8220;Acquisition&#8221;).\u00a0 The purchase price of the Acquisition was funded through a combination of an underwritten public offering of common units and borrowings under its revolving credit facility.\u00a0 Kimbell is entitled to all cash flow from production attributable to the Acquired Assets since <span class=\"xn-chron\">October 1<\/span>, 2024.\u00a0 Revenues and certain other operating statistics under generally accepted accounting principles will be recorded for the Acquisition beginning on the closing date of <span class=\"xn-chron\">January 17<\/span>, 2025.\u00a0<\/p>\n<p>Kimbell estimates that, as of <span class=\"xn-chron\">October 1, 2024<\/span>, the Acquired Assets produced approximately 1,842 Boe\/d (1,125 Bbl\/d of oil, 410 Bbl\/d of NGLs, and 1,842 Mcf\/d of natural gas) (6:1)<sup>1<\/sup>.\u00a0 For the full year 2025, Kimbell estimates that the Acquired Assets will produce approximately 1,842 Boe\/d (1,104 Bbl\/d of oil, 424 Bbl\/d of NGLs, and 1,881 Mcf\/d of natural gas) (6:1).\u00a0 The Acquired Assets are located under the historic <span class=\"xn-person\">Mabee Ranch<\/span> in the Midland Basin, with oil and gas minerals and royalty interests concentrated in <span class=\"xn-location\">Martin County<\/span> (63%) and <span class=\"xn-location\">Andrews County<\/span> (37%).<\/p>\n<p>\n        <b>About Kimbell Royalty Partners<\/b>\n      <\/p>\n<p>Kimbell (NYSE: KRP) is a leading oil and gas mineral and royalty company based in <span class=\"xn-location\">Fort Worth<\/span>, Texas.\u00a0 Kimbell owns mineral and royalty interests in over 17 million gross acres in 28 states and in every major onshore basin in the continental <span class=\"xn-location\">United States<\/span>, including ownership in more than 130,000 gross wells with over 51,000 wells in the Permian Basin.\u00a0 To learn more, visit <a href=\"http:\/\/www.kimbellrp.com\" rel=\"nofollow\">http:\/\/www.kimbellrp.com<\/a>.\u00a0\u00a0<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>\n        <i>This news release includes forward-looking statements. These forward-looking statements, which include statements regarding the anticipated benefits of the Acquisition and operational data with respect to the Acquisition, involve risks and uncertainties, including risks that the anticipated benefits of the Acquisition are not realized; risks relating to Kimbell&#8217;s integration of the Acquisition assets; and risks relating to Kimbell&#8217;s business, prospects for growth and acquisitions and the securities markets generally. Except as required by law, Kimbell undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Kimbell&#8217;s filings with the Securities and Exchange Commission (&#8220;SEC&#8221;).\u00a0 These include risks inherent in oil and natural gas drilling and production activities, including risks with respect to low or declining prices for oil and natural gas that could result in downward revisions to the value of proved reserves or otherwise cause operators to delay or suspend planned drilling and completion operations or reduce production levels, which would adversely impact cash flow; risks relating to the impairment of oil and natural gas properties; risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and natural gas prices; risks relating to Kimbell&#8217;s ability to meet financial covenants under its credit agreement or its ability to obtain amendments or waivers to effect such compliance; risks relating to Kimbell&#8217;s hedging activities; risks of fire, explosion, blowouts, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks relating to delays in receipt of drilling permits; risks relating to unexpected adverse developments in the status of properties; risks relating to borrowing base redeterminations by Kimbell&#8217;s lenders; risks relating to the absence or delay in receipt of government approvals or third-party consents; risks relating to acquisitions, dispositions and drop downs of assets; risks relating to Kimbell&#8217;s ability to realize the anticipated benefits from and to integrate acquired assets, including the assets acquired in the Acquisition; and other risks described in Kimbell&#8217;s Annual Report on Form 10-K, as amended, and other filings with the SEC, available at the SEC&#8217;s website at <a href=\"http:\/\/www.sec.gov\" rel=\"nofollow\">www.sec.gov<\/a>.\u00a0 You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release.<\/i>\n      <\/p>\n<p>\n        <b>Contact:<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-person\">Rick Black<\/span><br \/>\n        <br \/>\n        <span class=\"xn-person\">Dennard Lascar<\/span> Investor Relations<br \/><a href=\"mailto:krp@dennardlascar.com\" rel=\"nofollow\">krp@dennardlascar.com<\/a><br \/>(713) 529-6600<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prnpr2 prnpl2 prnvab prnsbtb1 prnrbrb1 prnbbbs prnsblb1\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup> Shown on 6:1 basis.\u00a0 Based on estimated Q4 2024 run-rate production for the Acquired Assets as of October 1, 2024, which is the effective date of the Acquisition.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA99523&amp;sd=2025-01-17\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction-302354599.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction-302354599.html<\/a><\/p>\n<p>SOURCE  Kimbell Royalty Partners, LP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA99523&amp;Transmission_Id=202501171727PR_NEWS_USPR_____DA99523&amp;DateId=20250117\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire FORT WORTH, Texas , Jan. 17, 2025 \/PRNewswire\/ &#8212; Kimbell Royalty Partners, LP (NYSE: KRP) (&#8220;Kimbell&#8221; or the &#8220;Company&#8221;), a leading owner of oil and gas mineral and royalty interests in over 17 million gross acres in 28 states,\u00a0today announced that it has closed the previously announced purchase of mineral and royalty interests (the &#8220;Acquired Assets&#8221;) held by a private seller in a cash transaction valued at approximately $230 million, subject to post-closing adjustments (the &#8220;Acquisition&#8221;).\u00a0 The purchase price of the Acquisition was funded through a combination of an underwritten public offering of common units and borrowings under its revolving credit facility.\u00a0 Kimbell is entitled to all cash flow from production attributable to the Acquired Assets since October &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kimbell Royalty Partners Closes $230 Million Acquisition of Midland Basin Mineral and Royalty Interests in Cash Transaction&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-802226","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kimbell Royalty Partners Closes $230 Million Acquisition of Midland Basin Mineral and Royalty Interests in Cash Transaction - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction\/\" \/>\n<meta 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offering of common units and borrowings under its revolving credit facility.\u00a0 Kimbell is entitled to all cash flow from production attributable to the Acquired Assets since October &hellip; Continue reading &quot;Kimbell Royalty Partners Closes $230 Million Acquisition of Midland Basin Mineral and Royalty Interests in Cash Transaction&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-17T22:31:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA99523&amp;sd=2025-01-17\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" 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million gross acres in 28 states,\u00a0today announced that it has closed the previously announced purchase of mineral and royalty interests (the &#8220;Acquired Assets&#8221;) held by a private seller in a cash transaction valued at approximately $230 million, subject to post-closing adjustments (the &#8220;Acquisition&#8221;).\u00a0 The purchase price of the Acquisition was funded through a combination of an underwritten public offering of common units and borrowings under its revolving credit facility.\u00a0 Kimbell is entitled to all cash flow from production attributable to the Acquired Assets since October &hellip; Continue reading \"Kimbell Royalty Partners Closes $230 Million Acquisition of Midland Basin Mineral and Royalty Interests in Cash Transaction\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/kimbell-royalty-partners-closes-230-million-acquisition-of-midland-basin-mineral-and-royalty-interests-in-cash-transaction\/","og_site_name":"Market 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