Kimbell Royalty Partners reports record Q2 metrics and outlines plans for further acquisitions following recent $360M transactions.
Kimbell Royalty Partners increased its Q2 distribution by 15% to $0.47 per unit after completing $360M in acquisitions. The company reported record revenues for oil, natural gas, and NGLs, alongside all-time highs in net income and adjusted EBITDA.
The quarter also saw lease bonuses and average daily production reach new peaks. Prior distributions stood at $0.41, with consensus estimates aligning closely with the reported figures.
Management indicated continued focus on strategic acquisitions to drive growth, though no immediate market reaction was detailed.