Kimbell closes $57M acquisition of mineral/royalty interests; redeems all Series A preferred units

Kimbell Royalty Partners, LP

Acquired mineral/royalty interests from Caritas Royalty Fund for $57M cash; funded via public offering and credit facility.
Acquired assets produced 700 Boe/d (6:1) from over 26,000 gross wells across Permian, Mid-Continent, Haynesville basins.
Concurrently redeemed all 25,000 outstanding Series A Cumulative Convertible Preferred Units, originally issued in 2018.
Acquisition expected to be immediately accretive to distributable cash flow per unit; redemption reduces cost of capital.

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