earnings
confidence high
sentiment positive
materiality 0.75
Kimbell Royalty Q1 2022: record revenue $65.1M, Adjusted EBITDA $43.9M, distribution $0.47/unit
Kimbell Royalty Partners, LP
- Record Q1 2022 oil, gas, NGL revenue of $65.1M, up 25% from Q4 2021; net income $8.4M.
- Record consolidated Adjusted EBITDA of $43.9M, up 34% from Q4 2021.
- Record cash available for distribution $0.64/unit; declared distribution $0.47/unit, 10.8% annualized yield based on May 4 close.
- Rig count on acreage up 20% to 73 rigs; net DUCs and permits up 6% to 5.03 as of Mar 31.
- Affirms 2022 guidance; SPAC Kimbell Tiger IPO closed Feb 8; $52.5M debt paydown since May 2020.