Kimbell Royalty Partners (NYSE:KRP), LP is listed on the New York Stock Exchange and is known for its ownership of oil and natural gas mineral and royalty interests across the United States. Currently trading near its 52-week high, the company's latest acquisition is expected to enhance its asset base and revenue streams from the prolific Permian Basin region. For a comprehensive analysis of KRP's valuation and future prospects, investors can access the detailed Pro Research Report available on InvestingPro.
The acquisition, which was finalized on Thursday, January 17, 2025, was made from Boren Minerals, a Saskatchewan partnership, with no prior relationship to Kimbell or its affiliates. The terms of the purchase, as outlined in a purchase and sale agreement dated January 7, 2025, include customary closing adjustments.
Kimbell Royalty Partners, LP is listed on the New York Stock Exchange and is known for its ownership of oil and natural gas mineral and royalty interests across the United States. Currently trading near its 52-week high, the company's latest acquisition is expected to enhance its asset base and revenue streams from the prolific Permian Basin region. For a comprehensive analysis of KRP's valuation and future prospects, investors can access the detailed Pro Research Report available on InvestingPro.
Kimbell Royalty Partners, LP is listed on the New York Stock Exchange and is known for its ownership of oil and natural gas mineral and royalty interests across the United States. Currently trading near its 52-week high, the company's latest acquisition is expected to enhance its asset base and revenue streams from the prolific Permian Basin region.
In other recent news, Kimbell Royalty Partners has been making significant strides. The company has expanded its Midland Basin footprint with the acquisition of mineral and royalty interests from a private seller for approximately $231 million. This strategic acquisition enhances Kimbell's daily production by about 8% and reduces cash general and administrative expenses per Boe by about 7%.
In addition to the acquisition, Kimbell reported robust Q3 2024 results, including revenues of $71.1 million, net income of $25.8 million, and adjusted EBITDA at $63.1 million. The company also announced a cash distribution of $0.41 per common unit, marking significant cumulative distributions since its IPO.
Furthermore, Kimbell revealed plans to redeem at least half of the Apollo Preferred Stock by May 2025. The company's management maintained a positive outlook for production and future acquisitions, with a strategic focus on capital deployment and development opportunities, particularly in the Permian and Appalachian Basins.
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