Kimbell Royalty Partners Closes $221.2 Million Drop Down Acquisition

About this update from Kimbell Royalty Partners

FORT WORTH, Texas, Aug. 21, 2026 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and gas mineral and royalty interests in over 17 million gross acres in 28 states, today announced that it has closed the previously announced purchase of mineral and royalty interests from certain affiliated sellers in a cash and unit transaction valued at approximately $221.2 million1 (the "Drop Down").  The purchase price for the Drop Down was comprised of $74.9 million in cash (approximately 34% of the total consideration), and 9.5 million common units of Kimbell Royalty Operating, LLC ("OpCo") valued at approximately $146.3 million.  Kimbell is entitled to all cash flow from production attributable to the Drop Down since the effective date of June 1, 2026.  Revenues and certain other operating statistics under generally accepted accounting principles will be recorded for the Drop Down beginning on the closing date of August 21, 2026.  Kimbell estimates that, as of June 1, 2026, the Drop Down currently produces approximately 2,347 Boe/d (841 Bbl/d of oil, 569 Bbl/d of NGLs, and 5,624 Mcf/d of natural gas) (6:1).  The Drop Down portfolio spans over 3 million gross acres with over 29,000 gross producing wells in premier areas of the Eagle Ford, Permian, Mid-Con and Appalachia, further expanding Kimbell's scaled and diversified mineral and royalty position.About Kimbell Royalty PartnersKimbell (NYSE: KRP) is a leading oil and gas mineral and royalty company based in Fort Worth, Texas.  Kimbell owns mineral and royalty interests in over 17 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 137,000 gross wells.  To learn more, visit http://www.kimbellrp.com.  Forward-Looking StatementsThis news release includes forward-looking statements. These forward-looking statements, which include statements regarding the anticipated benefits of the Drop Down and operational data with respect to the Drop Down, involve risks and uncertainties, including risks that the anticipated benefits of the Drop Down are not realized; risks relating to Kimbell's integration of the Drop Down assets; and risks relating to Kimbell's business, prospects for growth and acquisitions and the securities markets general...

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