KRP
Kimbell Royalty Partners, LP11.50
-0.29-2.46%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details Barnett-Woodford upside
Q&A expanded on Barnett-Woodford potential first flagged in prepared remarks, detailing Conoco's strong wells on Mabee Ranch, Oxy and Fasken activity, and vast leased acreage set for production gains at zero cost to Kimbell. Management touted M&A edge in $100-500M deals across basins, eyeing Mid-Con growth via gas/NGL tailwinds like past LongPoint success. Realizations clarified: gas differentials hit 24% in Q4 (seasonal), oil at 2%, NGL flat; Waha pipelines to lift 15% exposed gas by '27. Mezzanine redemption eyed opportunistically in H2. Maintenance wells rose modestly to 6.8 post-Boren. Operators innovate. Stable 2026 cadence affirmed; watch delineation acceleration.
Key Stats
Market Cap
1.24BP/E (TTM)
-Basic EPS (TTM)
-0.09Dividend Yield
0.14%Recent Filings
8-K
Approves $100M unit buyback
Kimbell Royalty Partners' board approved a $100 million common unit repurchase program on March 6, 2026, running through December 31, 2027. The company will buy back units opportunistically using cash on hand, free cash flow, or credit facility borrowings, in open market or private deals compliant with Rule 10b-18. Program signals confidence in valuation. Board can suspend or modify it anytime.
10-K
FY2025 results
Kimbell Royalty Partners delivered FY2025 production of 9.4 MMboe, up 3% y/y to 25,760 boe/d, driven by the Boren acquisition while reserves swelled 8% to 72,944 Mboe (all proved developed). Q4 momentum held firm with PDP replacement at 163% for the year and 85 rigs (16% U.S. market share) active on acreage versus 87 at year-start, but rig count dipped amid softer oil prices. Revenues hit $317M (62% oil) on higher gas prices, though no Q4 breakdown disclosed; operators grabbed $63.84/bbl oil (down 16% y/y) yet natgas leaped 61% to $2.93/mcf. Debt stands at $441.5M under a fresh $625M revolver to 2030; Board allocated 25% of Q4 cash for repayment. PDP reserves grew 13.5% annually.
8-K
KRP beats guidance, flat 2026 outlook
Kimbell Royalty Partners reported Q4 2025 run-rate production of 25,627 Boe/d, beating guidance midpoint, with $76.0M revenues and $64.8M Adjusted EBITDA. Proved developed reserves hit a record 73MMBoe, up 8% YoY, while 85 rigs drilled on acreage, claiming 16% U.S. land rig share. Q4 distribution rose 6% to $0.37/unit; 2026 production guidance holds flat at 24,000-27,000 Boe/d. Credit facility extended to 2030.
8-K
Kimbell upsizes revolver to $1.5B
Kimbell Royalty Partners entered into a Second Amended and Restated Credit Agreement on December 16, 2025, boosting its senior secured reserve-based revolver to a $1.5B maximum with a $625M initial borrowing base and commitments. Maturity extends to December 16, 2030, backed by subsidiary guarantees and mortgages on 75% of PV-9 proved reserves; rates tie to SOFR or base plus 1.50-3.50% margins. Lenders redetermine semi-annually; covenants cap Debt to EBITDAX at 3.5x.
10-Q
Q3 FY2025 results
Kimbell Royalty Partners posted Q3 revenue of $80.6M, down slightly y/y from $83.8M yet buoyed by the Boren Acquisition closed Jan 2025 for $230.4M (cash via equity offering and borrowings), recognizing $94.9M proved developed and $127.8M unevaluated properties in the Midland Basin. Operating income dipped to $28.8M from $34.2M y/y on lower oil prices, but natural gas revenue jumped 65% while production rose to 25,530 Boe/d. Diluted EPS held at $0.19, reconciling to 118,213 weighted units. Cash swelled to $40M with $189M YTD operating cash flow; debt climbed to $448M under the $625M facility (matures 2027), in covenant compliance. Free cash flow not disclosed in the 10-Q. Volatility in commodity prices persists.
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