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Kimbell Royalty Partners, Lp

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Kimbell Royalty Partners Market Research Report



Company Overview



  • Name: Kimbell Royalty Partners, LP

  • Mission: Kimbell Royalty Partners is dedicated to being the premier owner of pure mineral and royalty interests across leading basins in the United States, providing investors with a compelling risk-adjusted cash yield through direct mineral ownership in approximately 17 million gross acres.

  • Founded: Established in 1998 through a handshake agreement between a small group of Fort Worth-based investors.

  • Key People:

  • Robert Ravnaas: Chairman, Chief Executive Officer, and Co-Founder

  • R. Davis Ravnaas: President, Chief Financial Officer, and Co-Founder

  • Brett G. Taylor: Executive Vice Chairman and Co-Founder

  • Matthew S. Daly: Chief Operating Officer

  • Blayne Rhynsburger: Controller

  • Rand Ravnaas: Vice President of Business Development

  • Andrew Cardwell: Vice President of Finance and Investor Relations

  • Daniel C. Przyojski, Jr.: Vice President of Acquisitions

  • Peter Alcorn: Vice President of Land

  • Jamie Hayes: Director of Financial Reporting and Human Resources

  • Headquarters: 777 Taylor Street, Suite 810, Fort Worth, Texas 76102

  • Number of Employees: No information is available

  • Revenue: Q3 2024 oil, natural gas, and NGL revenues were $71.1 million.

  • Notable Achievements: Became a publicly traded company in February 2017, trading on the NYSE under the ticker symbol `KRP`. Converted to a C-Corp for federal income tax purposes in September 2018.


Products



  • Products Offered:

  • Mineral and royalty interests in oil and gas.

  • High-Level Description of Products:

  • Ownership in mineral and royalty interests across the United States' leading oil and natural gas basins, covering approximately 17 million gross acres and over 129,000 gross wells.

  • Key Features:

  • Premier quality, long-life, shallow decline oil and gas minerals.

  • Direct mineral ownership without any associated operating costs or capital expenditures.

  • Tax-advantaged distributions via 1099-DIV.


Recent Developments



  • Recent Developments:

  • Participation announced in upcoming investor conferences, including Bank of America Global Energy Conference 2024, TD Securities Energy Conference, Wolfe Inaugural Global Energy Conference, and Mizuho Power, Energy & Infrastructure Conference.

  • Announced third quarter 2024 results, including record lease bonuses reflecting increased operator activity.

  • New Products Launched: No information is available.

  • New Features Added to Existing Products: No information is available.

  • New Partnerships: No information is available.


Financial Performance



  • Third Quarter 2024 Performance:

  • Daily production of 23,846 barrels of oil equivalent per day.

  • Total revenues of $83.8 million with a consolidated Adjusted EBITDA of $63.1 million.

  • Net income of approximately $25.8 million, with $17.4 million attributable to common units.

  • Q3 2024 cash distribution of $0.41 per common unit declared.


Operational Highlights



  • Acreage and Drilling Activity:

  • 90 active rigs drilling on the company’s acreage, representing 16% market share of all land rigs in the continental U.S.

  • Significant presence in the Permian Basin and other major onshore basins across 28 states.

  • Increase of 34% in net drilled but uncompleted wells (DUCs) quarter over quarter.


Strategic Initiatives



  • Financial Management:

  • Conservative balance sheet with net debt to trailing twelve-month consolidated adjusted EBITDA at 0.8x.

  • Focused on reducing debt through cash available for distribution.


This detailed report provides a comprehensive look at Kimbell Royalty Partners, offering insights into their operations, financial performance, and strategic initiatives, along with recent developments affecting their market presence and positioning.