In This Article:
FORT WORTH, Texas, Jan. 7, 2025 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell") today announced that it has commenced an underwritten public offering of 9,000,000 common units representing limited partner interests, subject to market and other conditions. In connection with the offering, Kimbell intends to grant the underwriters an option to purchase up to 1,350,000 additional common units at the public offering price less the underwriting discount and commissions.
Kimbell intends to use the net proceeds from the offering for the repayment of outstanding borrowings under its revolving credit facility. At the closing of the pending acquisition of oil and natural gas mineral and royalty interests held by Boren Minerals (the "Acquisition"), as described in Kimbell's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on January 7, 2025, Kimbell intends to fund the cash portion of the purchase price of the Acquisition and related fees and expenses from future borrowings under its revolving credit facility.
Citigroup, J.P. Morgan, and RBC Capital Markets are acting as lead book-running managers for the offering. When available, a copy of the preliminary prospectus for the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 800-831-9146; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via email at prospectus-eq_fi@jpmchase.com; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, NY 10281, by telephone at 877-822-4089 or by email at equityprospectus@rbccm.com.
To obtain a copy of the preliminary prospectus free of charge, visit the SEC's website (www.sec.gov) and search under the registrant's name, "Kimbell Royalty Partners, LP."
The common units will be issued and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the SEC. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the common units, nor shall there be any sale of the common units in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering may only be made by means of a prospectus supplement and related base prospectus.
About Kimbell Royalty Partners
Kimbell (NYSE: KRP) is a leading oil and gas mineral and royalty company based in Fort Worth, Texas. Kimbell owns mineral and royalty interests in approximately 17 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 129,000 gross wells with over 50,000 wells in the Permian Basin.