---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-044316"
form_type: "8-K"
ticker: "KRP"
cik: "0001657788"
company_name: "Kimbell Royalty Partners, LP"
filed_at: "2023-04-12T23:59:59+00:00"
generated_at: "2026-06-17T03:07:55.810826+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Kimbell Royalty Partners acquires Midland Basin mineral assets for ~$143.1M

## Summary
- Consideration: $48.8M cash, ~5.4M OpCo units valued at $85.4M, and ~0.6M KRP units valued at $8.9M.
- Acquired 806 net royalty acres on ~60,000 gross acres in Northern Midland Basin; est. 1,901 Boe/d (77% oil), 5.3 MMBoe proved reserves, 3 active rigs.
- Expected to be immediately accretive to distributable cash flow per unit and reduce cash G&A per Boe by ~11%.
- Pro forma net leverage ~1.0x; est. NTM cash flow of $43.3M at strip pricing implies 3.3x transaction multiple.
- Expected to increase daily production to >19,000 Boe/d and oil weighting from 29% to 34%.

## SEC filing metadata
- accession: 0001104659-23-044316
- form_type: 8-K
- ticker: KRP
- cik: 0001657788
- company_name: Kimbell Royalty Partners, LP
- filed_at: 2023-04-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1657788/000110465923044316/0001104659-23-044316-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1657788/000110465923044316/tm2312457d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-044316
- JSON: https://secwatch.observer/filing/0001104659-23-044316.json
- Plain text: https://secwatch.observer/filing/0001104659-23-044316.txt

## Key facts
- Material Agreements
  Kimbell Royalty Partners, LP entered into Purchase and Sale Agreement with MB Minerals, L.P., Barry K. Clark, Michael F. Dignam Jr., Thomas A. Medary, Wayne A. Psencik valued at approximately $48.8 million in cash and the issuance of (a) 5,369,218 OpCo Common Units and an equal (effective 2023-04-11).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: MB Minerals, L.P., Barry K. Clark, Michael F. Dignam Jr., Thomas A. Medary, Wayne A. Psencik
  - Value: approximately $48.8 million in cash and the issuance of (a) 5,369,218 OpCo Common Units and an equal
  - Effective: 2023-04-11
  source text: nd, together with Kimbell, the “Buyer Parties”), entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with MB Minerals, L.P., a Delaware limited partnership (“MB Minerals”), Barry K.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1657788/000110465923044316/0001104659-23-044316-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.