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Kimbell agrees $215.4 million royalty acquisition
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- Kimbell agreed to acquire oil and gas royalty interests for approximately $215.4 million.
- The purchase includes $74.9 million in cash and 9.5 million newly issued OpCo units valued at $140.5 million.
- Kimbell said the assets should immediately increase distributable cash flow per unit after the planned August closing.
Kimbell Royalty Partners (NYSE:KRP) agreed to acquire multi-basin royalty interests for $215.4 million, adding expected Q3 production of 2,347 boe/d.
The transaction follows Kimbell’s June closing of a separate $145.9 million Permian mineral and royalty acquisition from Mesa Royalties.
Kimbell will pay $74.9 million in cash and issue 9.5 million OpCo units valued at $140.5 million, subject to adjustments.
The assets cover 2,568 net royalty acres across the Eagle Ford, Permian, Mid-Continent and Appalachia, with nine active rigs and 177 DUCs and permits.
Kimbell owns interests across more than 17 million gross acres in 28 states and over 135,000 gross wells before the proposed transaction.
