Kimbell Royalty Partners, LP (KRP) Misses Q4 EPS by 21c, Revenues Beat

Kimbell Royalty Partners, LP (NYSE: KRP) reported Q4 EPS of ($0.10), $0.21 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $30.25 million versus the consensus estimate of $23.87 million.

"The fourth quarter generated record high production and revenues, providing an excellent close to the year as we continue to build on this momentum in 2019," said Robert Ravnaas, Chairman and Chief Executive Officer of Kimbell Royalty Partners' general partner. "Since our initial public offering in February 2017, we have more than tripled our production and are poised for continued growth in 2019.

"With our recently announced Phillips Acquisition, we will have announced or completed approximately $700 million in acquisitions in just over six months. These acquisitions have transformed our company and positioned Kimbell as one of the leading consolidators within the U.S. royalty and minerals space.

"The assets we acquired in 2018 from Haymaker and through the Drop Down are outperforming our expectations. Most notably, the Haymaker assets experienced significant growth from new wells coming online in the Haynesville shale during the fourth quarter of 2018. Moreover, the Drop Down assets generated production growth from new wells that came online in the Eagle Ford shale. We are experiencing the best of both worlds – organic growth from our recently acquired assets, coupled with the stability of the PDP decline rate from Kimbell\'s legacy assets.

"In 2019, we continue to see positive trends in the royalty sector, including potential opportunities for additional accretive acquisitions as deal-flow remains high. Our company is performing at a high level, and we will continue to work hard to enhance value for our unitholders."

For earnings history and earnings-related data on Kimbell Royalty Partners, LP (KRP) click here.

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