Kimbell Royalty Partners Reports Record 2024 Results

Kimbell Royalty Partners ( (KRP) ) has released its Q4 earnings. Here is a breakdown of the information Kimbell Royalty Partners presented to its investors.

Kimbell Royalty Partners, LP is a prominent oil and gas mineral and royalty company based in Fort Worth, Texas, with interests in over 17 million gross acres across 28 states, including ownership in more than 130,000 gross wells in every major onshore basin in the continental United States.

In its latest earnings report, Kimbell Royalty Partners announced record production levels for the fourth quarter and full year 2024, surpassing 25,000 barrels of oil equivalent per day for the first time. The company also highlighted a significant acquisition that contributed to these results and initiated its 2025 operational guidance with expectations of continued high production levels.

Key financial metrics from the fourth quarter of 2024 include oil, natural gas, and NGL revenues of $69.1 million, although the company reported a net loss of approximately $39.3 million due to a non-cash ceiling test impairment expense. Despite this, Kimbell achieved a consolidated Adjusted EBITDA of $59.8 million and announced a cash distribution of $0.40 per common unit, maintaining a conservative balance sheet with a net debt to trailing twelve-month consolidated Adjusted EBITDA ratio of 0.8x.

Looking ahead, Kimbell Royalty Partners has set ambitious production targets for 2025, with a mid-point daily production estimate of 25,500 barrels of oil equivalent per day. The company remains committed to its strategy of growth through acquisitions and expects to continue playing a significant role in the consolidation of the U.S. oil and natural gas royalty sector, aiming to deliver long-term value to its unitholders.