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.
Forward-Looking Statements
This news release includes forward-looking statements, including
statements related to the proposed public offering, the use of
proceeds therefrom, the consummation of the Acquisition and other
statements that are not historical facts. These forward-looking
statements involve risks and uncertainties, including risks that
the anticipated benefits of the Acquisition are not realized; risks
relating to Kimbell's integration of the Acquisition assets; risks
relating to the possibility that the Acquisition does not close
when expected or at all because any conditions to the closing are
not satisfied on a timely basis or at all; and risks relating to
Kimbell's business and prospects for growth generally. Except as
required by law, Kimbell undertakes no obligation and does not
intend to update these forward-looking statements to reflect events
or circumstances occurring after this news release. When
considering these forward-looking statements, you should keep in
mind the risk factors and other cautionary statements in Kimbell's
Annual Report on Form 10-K (as amended) and other filings with the
SEC, available at the SEC's website at www.sec.gov. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this news release.
Kimbell may not consummate the Acquisition and the closing of the
offering is not conditioned upon the Acquisition.
Contact:
Rick Black
Dennard Lascar Investor
Relations
krp@dennardlascar.com
(713) 529-6600
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SOURCE Kimbell Royalty Partners, LP
