Kimbell Royalty Partners, LP: management transactions · United States · SEC (Form 4)

About Kimbell Royalty Partners, LP

Kimbell Royalty Partners, LP (NYSE: KRP) is a United States-based oil and gas royalty company headquartered in Fort Worth, Texas. Its business model is built around owning and acquiring mineral interests and overriding royalty interests across oil and natural gas properties, rather than operating wells directly. This asset-light structure allows the company to collect royalty revenue tied to production while avoiding most drilling capex, lifting costs, and day-to-day operating risk borne by upstream operators. For equity investors, that typically translates into a cash-flow profile that is more royalty-like than conventional exploration and production exposure. Kimbell was formed in 2015 as a Delaware limited partnership, but its origins go back to 1998, when a group of Fort Worth investors established the predecessor investment platform. Over time, the company evolved into one of the larger U.S. owners of mineral and royalty interests, with a portfolio spanning multiple onshore basins across the continental United States. Management emphasizes a strategy centered on high-quality, long-life, low-decline mineral assets. That focus is important in the royalty segment because asset quality, basin mix, operator activity, and reserve duration all drive the durability of distributions and the company’s ability to reinvest through acquisitions. Operationally, Kimbell’s revenue base comes from royalty payments on oil, natural gas, and NGL production generated by third-party operators on acreage in which it owns an interest. Its asset base is broadly diversified by geography and operator count, which helps reduce single-asset concentration risk. The company’s portfolio includes exposure to major U.S. basins such as the Permian and Mid-Continent, alongside other producing regions. This broad footprint is a key competitive advantage, as it provides access to organic development optionality without taking direct operating risk. From a competitive standpoint, Kimbell competes on scale, basin diversification, and acquisition discipline. The company aims to grow distributable cash flow and unitholder returns by buying accretive royalty assets and benefiting from ongoing third-party development on its acreage. Recent highlights include the release of full-year 2025 results in February 2026, as well as continued acquisition activity, including a announced $455 million accretive acquisition and a separate $31.8 million mineral-and-royalty asset purchase. The company is listed on the U.S. NYSE market, in the United States, giving investors a liquid, publicly traded way to access the U.S. oil and gas royalty sector. For French-speaking investors, Kimbell stands out as a differentiated energy equity with less operational intensity than a classic E&P name, but with meaningful exposure to commodity prices and basin-level development trends.