Kimbell Royalty Partners reports record Q4 production 24,332 Boe/d and record Adjusted EBITDA $69.0M

Kimbell Royalty Partners, LP

Record Q4 run-rate production 24,332 Boe/d (6:1), exceeding guidance and up 3.4% organic from Q3.
Record Q4 oil, natural gas, NGL revenues $83.9M, up 21.2% from Q3; consolidated Adjusted EBITDA $69.0M, up 23.7%.
Q4 net income $17.8M ($0.14/unit attributable to common units); non-cash ceiling test impairment of $18.2M.
Q4 cash distribution $0.43/unit (75% payout) payable March 20, 2024; remaining 25% used for debt paydown.
Borrowing base increased to $550M from $400M; initiated FY2024 guidance midpoint 24,000 Boe/d.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Kimbell Royalty Partners, LP reported the quarter ended and year ended December 31, 2023 results: revenue $83.9 million, net income $17.8 million. Guidance initiated.

Period: the quarter ended and year ended December 31, 2023
Revenue: $83.9 million
Net income: $17.8 million
Guidance: initiated
Result: reported results

Exact text from the filing

Q4 2023 oil, natural gas and NGL revenues of $83.9 million, an increase of 21.2% from Q3 2023 · Q4 2023 net income of approximately $17.8 million and net income attributable to common units of approximately $9.8 million, as compared to $18.5 million and $13.6 million, respectively, from Q3 2023

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Source: SEC EDGAR

accession 0001104659-24-025796

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