Kimbell Royalty Partners, LP has finalized the purchase of mineral and royalty interests from Mesa Royalties, a portfolio company of funds managed by NGP, in a transaction valued at approximately $145.9 million. The acquisition strengthens Kimbell's footprint across 16 counties in the Permian Basin, with assets concentrated in the Delaware Basin (70%) and Midland Basin (30%). The company is entitled to all cash flow from production attributable to the acquired assets since the effective date of June 1, 2026.

The purchase price consisted of $44.0 million in cash, representing approximately 30% of the total consideration, and approximately 6.9 million newly issued common units of Kimbell Royalty Operating, LLC (OpCo) valued at $101.9 million. The unit valuation is based on Kimbell's closing price of $14.70 per unit as of June 22, 2026. Revenues and certain operating statistics under generally accepted accounting principles will be recorded starting from the closing date.

Asset and Production Details

The acquired assets encompass approximately 711 Net Royalty Acres (5,691 NRA normalized to 1/8th). For the next twelve months, Kimbell estimates that as of June 1, 2026, these assets will produce approximately 1,390 barrels of oil equivalent per day (Boe/d). This production profile includes 754 barrels of oil per day (Bbl/d), 315 Bbl/d of natural gas liquids (NGLs), and 1,928 thousand cubic feet per day (Mcf/d) of natural gas, calculated on a 6:1 basis.

Strategic Impact

Kimbell Royalty Partners, LP is a leading owner of oil and gas mineral and royalty interests, holding properties over 17 million gross acres in 28 states. This acquisition expands its existing portfolio, which includes ownership in more than 135,000 gross wells across every major onshore basin in the continental United States.