Kimbell Royalty Partners LP (KRP) Announces Proposed 6M Unit Offering

Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell") today announced that it has commenced an underwritten public offering of 6,000,000 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 900,000 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 a private seller (the "Acquisition"), as described in Kimbell's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on August 2, 2023, Kimbell intends to use amounts borrowed from its revolving credit facility to fund a portion of the purchase price of the Acquisition and to pay related fees and expenses. Kimbell may use future amounts borrowed under its revolving credit facility for general partnership purposes, including a potential redemption of a portion of its 6.0% Series A Cumulative Convertible Preferred Units that are expected to be issued in connection with the Acquisition.

Citigroup and BofA Securities 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:

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