Kimbell Royalty Partners closes $271M acquisition of Permian Basin mineral & royalty interests from Hatch Royalty

Kimbell Royalty Partners, LP

Total consideration ~$270.7M: $150.4M cash + ~7.3M Opco units valued at $120.3M.
Acquired assets produced ~2,072 Boe/d (1,198 Bbl oil, 372 Bbl NGLs, 3,012 Mcf gas) as of Oct 1, 2022.
Estimated 2023 production from acquired assets: ~2,522 Boe/d. Assets primarily in Permian Basin (82% Texas Delaware).
Credit facility borrowing base increased from $300M to $350M via Amendment No. 4.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Kimbell Royalty Partners, LP entered into Registration Rights Agreement (effective 2022-12-15).

Action: entry
Effective: 2022-12-15

Exact text from the filing

On December 15, 2022, pursuant to the terms of the Purchase Agreement, Kimbell entered into a registration rights agreement (the “Registration Rights Agreement”) with the Seller

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Kimbell Royalty Partners, LP amended Amendment No. 4 to Credit Agreement with certain subsidiaries of Kimbell, as guarantors, the lenders party thereto and Citibank, N.A. valued at $300.0 to $350.0 million (effective 2022-12-15).

Action: amendment
Agreement: credit facility
Counterparty: certain subsidiaries of Kimbell, as guarantors, the lenders party thereto and Citibank, N.A.
Value: $300.0 to $350.0 million
Effective: 2022-12-15

Exact text from the filing

On December 15, 2022, Kimbell entered into Amendment No. 4 (the “Fourth Amendment”) to Kimbell’s existing Credit Agreement, dated as of January 11, 2017

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Kimbell Royalty Partners, LP filing history →

Source: SEC EDGAR

accession 0001104659-22-127431

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