Kimbell Royalty Q2 run-rate production 24,110 Boe/d exceeds guidance mid-point; declares $0.42 distribution

Kimbell Royalty Partners, LP

Q2 run-rate daily production of 24,110 Boe/d (6:1) exceeded mid-point of 2024 guidance; total revenues $77.0M.
Net income $15.2M; consolidated Adjusted EBITDA $65.8M. Cash G&A per BOE record low $2.34, below low-end guidance.
Declared Q2 cash distribution $0.42/common unit (75% payout), ~10.2% annualized yield based on $16.48 close.
91 active rigs on acreage represent 16.3% of U.S. land rig count; net DUCs and permits well above flat production needs.
Since May 2020, $165.4M debt paydown via portion of cash available for distribution; net debt/EBITDA 0.9x.

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