Kimbell Royalty Partners Acquires Oil and Gas Assets for $221.2 Million
Kimbell Royalty Partners has closed on a $221.2 million acquisition of oil and gas mineral and royalty interests in the United States. The transaction significantly expands the company's asset base.
FORT WORTH, Texas – Kimbell Royalty Partners, LP (NYSE: KRP) announced the closing of a previously announced acquisition valued at $221.2 million. This transaction marks a significant expansion of the company's holdings in oil and gas assets across the United States.
The acquired assets include a portfolio of oil and gas properties located in key producing basins. This strategic move enhances Kimbell's position as a substantial owner of mineral and royalty interests, with operations spanning 28 states and covering over 17 million gross acres.
The company stated that the acquisition is expected to increase distributable cash flow and enhance shareholder value over the long term. Kimbell Royalty Partners focuses on acquiring and managing oil and gas mineral and royalty interests, leveraging its expertise in identifying undervalued assets.
The transaction was financed through existing credit facilities and potentially other debt. Kimbell continues to pursue a strategy of acquiring high-quality, long-life assets that generate predictable cash flows, aiming to grow its portfolio through disciplined investment.