secwatch.observer — SEC 8-K summary
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Issuer:     Kimbell Royalty Partners, LP (KRP)
CIK:        0001657788
Form:       8-K
Filed at:   2023-04-12T23:59:59+00:00
Accession:  0001104659-23-044316
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kimbell Royalty Partners acquires Midland Basin mineral assets for ~$143.1M
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1657788/000110465923044316/0001104659-23-044316-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1657788/000110465923044316/tm2312457d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-044316

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