Kimbell Royalty Partners reports record Q1 production, revenue, Adjusted EBITDA; distribution up 14%

Kimbell Royalty Partners, LP

Record Q1 production 24,678 Boe/d (+1.4% QoQ); record revenues $87.5M (+4.2%).
Adjusted EBITDA $74.1M (record, +7.4% QoQ); net income $9.3M (down from $17.8M due to $6.0M impairment).
Q1 distribution $0.49/unit (14% increase from Q4), 75% payout ratio; 79% expected return of capital.
98 rigs active (16.3% market share); net DUCs+permits 8.20 vs ~5.8 needed for flat production.
Net debt to trailing EBITDA 1.0x; affirms 2024 guidance.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Kimbell Royalty Partners, LP reported the quarter ended March 31, 2024 results: revenue $87.5 million, net income approximately $9.3 million, EPS $0.04 per common unit. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $87.5 million
Net income: approximately $9.3 million
EPS: $0.04 per common unit
Guidance: reaffirmed
Result: reported results

Exact text from the filing

24,678 barrels of oil equivalent (“Boe”) per day (6:1), an increase of 1.4% from Q4 2023, or 5.6% on an annualized basis · Record Q1 2024 oil, natural gas and NGL revenues of $87.5 million, an increase of 4.2% from Q4 2023 · Q1 2024 net income of approximately $9.3 million and net income attributable to common units of approximately $3.2 million, as compared to

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Source: SEC EDGAR

accession 0001104659-24-055990

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