---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-086790"
form_type: "8-K"
ticker: "KRP"
cik: "0001657788"
company_name: "Kimbell Royalty Partners, LP"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T13:53:21.098247+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Kimbell acquires Cherry Creek Minerals for $455M; raises $325M from Apollo preferred units

## Summary
- Purchase price $455M cash for Cherry Creek Minerals; expected close Q3 2023 with effective date June 1, 2023.
- Acquired assets produce ~4,840 Boe/d (28% increase to Kimbell production); 49,658 net royalty acres in Permian and SCOOP/STACK.
- Apollo funds commit $325M firm for 6% Series A Cumulative Convertible Preferred Units; Kimbell may sell additional $75M.
- Preferred units convertible after 2 years at $15.07 conversion price; distribution rate 6% per annum, step-up on default.
- Acquisition expected to reduce G&A per Boe by ~22% and add 24 active rigs on acreage.

## SEC filing metadata
- accession: 0001104659-23-086790
- form_type: 8-K
- ticker: KRP
- cik: 0001657788
- company_name: Kimbell Royalty Partners, LP
- filed_at: 2023-08-02T23:59:59+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, 3.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1657788/000110465923086790/0001104659-23-086790-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1657788/000110465923086790/tm2322096d3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-086790
- JSON: https://secwatch.observer/filing/0001104659-23-086790.json
- Plain text: https://secwatch.observer/filing/0001104659-23-086790.txt

## Key facts
- Material Agreements
  Kimbell Royalty Partners, LP entered into Purchase Agreement with LongPoint.
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: LongPoint
  source text: the Kimbell has agreed to acquire all of the issued and outstanding membership interests in the Acquired Company owned by LongPoint pursuant to the Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1657788/000110465923086790/0001104659-23-086790-index.htm

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