Business
Kimbell Royalty Partners Announces Record Fourth Quarter and Full Year 2024 Results
Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and natural gas mineral and royalty interests in over 130,000 gross wells across 28 states, today announced financial and operating results for the quarter and full year ended December 31, 2024.
About this update from Kimbell Royalty Partners
[{"type":"text","content":"Production Exceeded 25,000 Boe/d (6:1) for First Time Including a Full-Quarter of Acquired Production","length":101,"tagName":"p","attribs":{}},{"type":"text","content":"Activity on Acreage Remains Robust with 91 Active Rigs Drilling Representing 16%1 Market Share of U.S. Land Rig Count Including the Acquired Production","length":156,"tagName":"p","attribs":{}},{"type":"text","content":"Superior Five-Year Annual Average PDP Decline Rate of 14% Requires Only an Estimated 6.5 Net Wells Annually to Maintain Flat Production Compared to 8.1 Net Line-of-Site Wells After Giving Effect to Acquired Production","length":217,"tagName":"p","attribs":{}},{"type":"text","content":"Announces Q4 2024 Cash Distribution of $0.40 per Common Unit","length":60,"tagName":"p","attribs":{}},{"type":"text","content":"Initiates 2025 Operational Guidance with Record High Mid-Point Daily Production ","length":79,"tagName":"p","attribs":{}},{"type":"text","content":"FORT WORTH, Texas, Feb. 27, 2025 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and natural gas mineral and royalty interests in over 130,000 gross wells across 28 states, today announced financial and operating results for the quarter and full year ended December 31, 2024.","length":367,"tagName":"p"},{"type":"text","content":"Fourth Quarter 2024 Highlights ","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Q4 2024 run-rate daily production of 24,082 barrels of oil equivalent ("Boe") per day (6:1)","length":101,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Including a full Q4 2024 impact of production from the Company's $230.4 million acquisition from a private seller (the "Acquired Production"), which closed on January 17, 2025 with an effective date of October 1, 2024, run-rate production was 25,946 Boe per day (6:1)","length":286,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":286,"olType":false}]},{"val":[{"type":"text","content":"Q4 2024 oil, natural gas and NGL revenues of $69.1 million2","length":64,"tagName":"p"}]},{"val":[{"type":"text","content":"Q4 2024 net loss of approximately $39.3 million and net loss attributable to common units of approximately $37.8 million primarily...