Kimbell Royalty Partners Declares Fourth Quarter 2021 Distribution
- Wall Street ends mixed after punishing week
- '3600 is the New Bull Case': Outflows from Energy and Materials Highest in Several Years - BofA
- Dollar catches a break after bruising week as investors turn risk averse
- Apple (AAPL) is a 'Compelling Name To Own' Right Now, iPhone Sales Trending Ahead of Guidance - Wedbush's Ives
- Deere (DE) Falls on Sales Miss, JPMorgan Sees 'Aggressive' Guidance and Downside Risk
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
FORT WORTH, Texas, Jan. 21, 2022 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell"), a leading owner of oil and natural gas mineral and royalty interests in more than 122,000 gross wells across 28 states, today announced that the Board of Directors of Kimbell Royalty GP, LLC, Kimbell's general partner, approved a cash distribution payment of 75% of projected cash available for distribution for the fourth quarter of 2021, or $0.37 per common unit. The distribution will be payable on February 7, 2022 to common unitholders of record at the close of business on January 31, 2022. Kimbell intends to utilize the remaining 25% of Q4 2021 projected cash available for distribution to pay down a portion of the outstanding borrowings under Kimbell's credit facility. Since May 2020 (excluding the expected upcoming pay down from the remaining 25% of Q4 2021 projected cash available for distribution), Kimbell has paid down approximately $44.5 million of outstanding borrowings under its credit facility from allocating a portion of its cash available for distribution for debt pay down.
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 13 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 122,000 gross wells with over 46,000 wells in the Permian Basin. To learn more, visit kimbellrp.com.
This news release includes forward-looking statements, including statements relating to the tax treatment of Kimbell's distributions. These and other forward-looking statements involve risks and uncertainties, including risks and uncertainties relating to Kimbell Royalty Operating, LLC's realized income and depletions deductions and production from the mineral and royalty interests owed by Kimbell Royalty Operating, LLC, Kimbell's business and the securities markets generally and other risks described in Kimbell's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission (the "SEC"), available at the SEC's website at www.sec.gov. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Kimbell's filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. 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.
Contact:Rick Black Dennard Lascar Investor Relations[email protected](713) 529-6600
View original content to download multimedia:https://www.prnewswire.com/news-releases/kimbell-royalty-partners-declares-fourth-quarter-2021-distribution-301466045.html
SOURCE Kimbell Royalty Partners, LP
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sentage Holding (SNTG) Receives Notice of Filing Delinquency from Nasdaq
- Digital Ally (DGLY) Reports Q1 Revenue of $10.3M, Net Loss of $6.6M
- U.S. News & World Report Names Pelican Landing a 2022-23 Best Assisted Living and Memory Care Community
Create E-mail Alert Related CategoriesPRNewswire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!