Kimbell Royalty Partners reports record Q2 run-rate production, boosts distribution 11%, expands credit facility

Kimbell Royalty Partners, LP

Record Q2 run-rate production of 17,573 Boe/d; pro forma with full quarter of MB Minerals acquisition: 18,554 Boe/d.
Q2 2023 net income $17.8M; Adjusted EBITDA $45.0M; net income attributable to common units $13.5M ($0.24/unit).
Q2 cash distribution $0.39/unit (payable Aug 21, 2023), 11% increase from Q1; 75% payout ratio; 9.9% annualized yield.
Credit facility amended: borrowing base and elected commitments increased to $400M from $350M; maturity extended to June 2027.
Market share of U.S. land rig count 13.8% (90 rigs); oil production mix shifted to 33% vs 29% in Q1.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kimbell Royalty Partners, LP reported second quarter 2023 results: revenue $57.0 million, net income approximately $17.8 million. Guidance reaffirmed.

Period: second quarter 2023
Revenue: $57.0 million
Net income: approximately $17.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Q2 2023 oil, natural gas and NGL revenues of $57.0 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kimbell Royalty Partners, LP reported the quarter ended June 30, 2023 results: revenue $57.0 million, net income $17.8 million. Guidance reaffirmed.

Period: the quarter ended June 30, 2023
Revenue: $57.0 million
Net income: $17.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

the Acquired Production, the revenues of which will be received by the Company, run-rate production was 18,554 Boe per day (6:1) · Q2 2023 oil, natural gas and NGL revenues of $57.0 million, a decrease of 0.8% from Q1 2023, primarily attributable to a decline in realized commodity prices · Q2 2023 net income of approximately $17.8 million and net income

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Kimbell Royalty Partners, LP filing history →

Source: SEC EDGAR

accession 0001104659-23-086583

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