Kimbell Royalty Partners (KRP) Announces Plans for 5M Unit IPO

Kimbell Royalty Partners, LP (NYSE: KRP) launched an underwritten initial public offering of 5,000,000 common units representing limited partner interests pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (SEC). The common units are expected to trade on the New York Stock Exchange under the ticker symbol "KRP."

The Partnership expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 750,000 common units. The common units being offered represent an approximate 30.6% limited partner interest in the Partnership (or an approximate 35.2% limited partner interest if the underwriters exercise in full their option to purchase additional common units). Certain parties who are contributing oil and natural gas mineral and royalty interests to the Partnership at the closing of the offering will collectively own the remaining limited partner interests in the Partnership.

Raymond James is acting as the lead book-running manager in the offering. RBC Capital Markets and Stifel are also acting as joint book-running managers. Stephens Inc. and Wunderlich are acting as co-managers. The offering will be made only by means of a prospectus.

Kimbell Royalty Partners, LP (KRP) is an oil and gas mineral and royalty variable rate master limited partnership based in Fort Worth, Texas. KRP is managed by its general partner, Kimbell Royalty GP, LLC, and owns mineral and royalty interests in approximately 4.5 million gross acres in twenty states and in nearly every major onshore basin in the continental United States, including ownership in more than 48,000 gross producing wells with over 29,000 wells in the Permian Basin.

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