FORT WORTH, Texas, Aug. 8,
2019 /PRNewswire/ -- Kimbell Royalty Partners, LP
(NYSE: KRP) ("Kimbell Royalty Partners" or "Kimbell"), a leading
owner of oil and natural gas mineral and royalty interests in more
than 92,000 gross producing wells across 28 states, today
announced financial and operating results for the second quarter
ended June 30, 2019.
Second Quarter 2019 Highlights
- Q2 2019 cash distribution of $0.39 per common unit, up 5.4% from Q1 2019;
implies a robust 11.3% annualized yield based on the August 6, 2019 closing price of $13.84 per common unit
- Kimbell expects that substantially all of the Q1 2019 and Q2
2019 distributions to common unitholders will not constitute
taxable dividend income and instead will generally result in
non-taxable reductions to the tax basis of unitholders' common
units
- Q2 2019 record oil, natural gas and natural gas liquids ("NGL")
revenues of $27.9 million, up 22%
from Q1 2019, primarily attributable to a full quarter of revenue
from the Phillips assets
- Q2 2019 average daily production of 11,807 barrels of oil
equivalent ("Boe") per day, up 225% from Q2 2018
- Q2 2019 oil price realizations increased 13.1%, natural gas
price realizations decreased 9.0%, NGL price realizations decreased
0.8% and combined price realizations increased 2.7% compared to Q1
2019, excluding the impact of hedging
- Q2 2019 net loss was $20.4
million and net loss attributable to common units was
$11.8 million compared to net income
attributable to common units of $1.4
million in Q2 2018, due to a $28.1
million non-cash impairment in Q2 2019
- Q2 2019 record consolidated Adjusted EBITDA (as defined and
reconciled below) of $21.6 million,
up 33.9% from Q1 2019
- Committed up to $15 million of
total capital commitments to a newly formed joint venture,
implementing a "ground-game" strategy to aggregate minerals in the
micro-market across multiple resource plays
- Kimbell reaffirms guidance
Robert Ravnaas, Chairman and
Chief Executive Officer of Kimbell Royalty Partners' general
partner commented, "After closing approximately
$700 million in acquisitions over the
last twelve months, we completed the integration of the Phillips
assets, which we recently acquired from EnCap, in the second
quarter. We are very pleased with the cash flow generation,
production stability and growth potential across our asset base,
especially in a challenging time for many exploration and
production companies operating in the U.S. Our rig count
remained flat between Q1 and Q2 2019 at 89 rigs and our market
share of the entire lower 48 drilling fleet increased to 9.5% from
9.1%, a testament to the quality of our acreage and
operators. In addition, revenue growth in the quarter
reflected a full quarter of our Phillips assets, improved
differentials and the receipt of over $1
million in lease bonuses. With our most recent
distribution of 39 cents per common
unit, Kimbell is now paying a 11.3% annualized yield, which we
expect will not be subject to dividend income taxes and instead
expect to be considered a return of capital.
"We continue to actively evaluate a number of acquisition
opportunities across our many basins. We remain focused on
assembling a high-quality, low PDP decline and diversified royalty
portfolio that generates substantial cash flow and growth potential
with no additional capital outlays. We will remain patient
and highly selective on seeking the best acquisition opportunities
that are not only immediately accretive to our unitholders, but
also enhance the long-term value of our overall portfolio,"
concluded Robert Ravnaas.
Second Quarter 2019 Distribution
On July 26, 2019, Kimbell
announced a cash distribution of $0.39 per common unit, a 5.4% increase compared
to the first quarter of 2019. Kimbell expects substantially
all of this distribution will not constitute taxable dividend
income and instead will generally result in a non-taxable reduction
to the tax basis of unitholders' common units. The reduced
tax basis will increase unitholders' capital gain (or decrease
unitholders' capital loss) when unitholders sell their common
units.
Financial Highlights
Total second quarter 2019 revenues increased to $31.9 million compared to $10.7 million in the second quarter of 2018,
primarily due to a full quarter of production and operating
activities from the assets acquired in the Haymaker acquisition,
dropdown and Phillips acquisition. Second quarter 2019 net
loss was $20.4 million and net loss
attributable to common units was $11.8
million, or $0.54 per common
unit, compared to net income attributable to common units of
$1.4 million in the second quarter of
2018. The decrease in net income during the second quarter of
2019 was primarily due to a $28.1
million non-cash impairment expense recorded during the
quarter.
Total second quarter 2019 consolidated Adjusted EBITDA grew to
$21.6 million, compared to
$7.7 million in the second quarter of
2018 (consolidated Adjusted EBITDA is a non-GAAP financial
measure. Please see a reconciliation to the nearest GAAP
financial measures at the end of this news release).
During the second quarter of 2019, average realized price per Bbl
of oil was $57.55, per Mcf of natural
gas was $2.44, per Bbl of NGLs was
$19.55 and per Boe combined was
$25.98.
Kimbell recorded a $28.1 million non-cash impairment
expense in the second quarter of 2019, which was primarily
attributable to a decline in the 12-month average price of oil and
natural gas. This non-cash impairment expense is not expected
to impact the cash flow available for distribution generated by
Kimbell or its liquidity or ability to make acquisitions in the
future.
General and administrative ("G&A") expenses were
$6.2 million in Q2 2019, $4.1 million of which was cash G&A expense or
$3.82 per Boe, down from $3.95 per Boe in Q1 2019. Non-cash G&A
in Q2 2019 was $2.1 million or
$1.97 per Boe. Excluding the
effect of one-time severance costs of $0.1
million in cash G&A and $0.3
million in non-cash G&A incurred in Q2 2019, cash
G&A per Boe was $3.71 and
non-cash G&A per Boe was $1.67.
As of June 30, 2019, Kimbell had
outstanding 23,094,135 common units and 23,814,342 Class B
units. As of August 7, 2019,
Kimbell had outstanding 23,494,135 common units and 23,414,342
Class B units. The change in the mix between units is due to
an exchange of certain Class B units for an equal number of common
units following the second quarter of 2019.
Production
Second quarter 2019 average daily production was 11,807 Boe per
day. Production for Q2 2019 was composed of approximately 37%
from liquids (25% from oil and 12% from NGLs) and 63% from natural
gas on a 6:1 basis.
2019 Guidance
Kimbell reaffirms the financial guidance for 2019 that was
provided in its March 25, 2019 press
release.
Liquidity
At June 30, 2019, Kimbell's total
debt to consolidated Adjusted EBITDA ratio was 1.0x based on Q2
2019 annualized consolidated Adjusted EBITDA.
On May 28, 2019, the borrowing
base under Kimbell's revolving credit facility was increased from
$200 million to $300 million and total commitments were increased
from $200 million to $225 million. At June 30, 2018, Kimbell had $87.3 million outstanding and $137.7 million in undrawn capacity under the
revolving credit facility (or $212.7
million if the accordion feature was exercised).
Increases in commitments pursuant to the accordion feature of the
revolving credit facility are subject to the satisfaction of
certain conditions, including obtaining additional commitments from
new or existing lenders. Kimbell was in compliance with all
financial covenants under the revolving credit facility at
June 30, 2019.
Hedging
Kimbell hedges its daily production in a manner that
approximates the amount of debt and/or preferred equity as a
percent of its enterprise value. As of June 30, 2019, Kimbell had hedged daily oil and
natural gas production of approximately 20% of its
production. Please see the supplemental schedule at the end
of this news release for hedging details.
Conference Call
Kimbell Royalty Partners will host a conference call and webcast
today at 11:00 a.m. Eastern Time
(10:00 a.m. Central Time) to discuss
second quarter 2019 results. To access the call live by
phone, dial 201-389-0869 and ask for the Kimbell Royalty Partners
call at least 10 minutes prior to the start time. A
telephonic replay will be available through August 15, 2019 by dialing 201-612-7415 and using
the conference ID 13691697#. A webcast of the call will also
be available live and for later replay on Kimbell Royalty Partners'
website at http://kimbellrp.investorroom.com under Events and
Presentations.
About Kimbell Royalty Partners, LP
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 92,000 gross producing wells with over 40,000 wells in the
Permian Basin. To learn more, visit http://www.kimbellrp.com.
Forward-Looking Statements
This news release includes forward-looking statements. These
forward-looking statements involve risks and uncertainties,
including risks and uncertainties relating to the tax treatment of
Kimbell's distributions, Kimbell's business, prospects for growth
and acquisitions and the securities markets generally. 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. When
considering these forward-looking statements, you should keep in
mind the risk factors and other cautionary statements in Kimbell's
filings with the Securities and Exchange Commission ("SEC").
These include risks that the anticipated benefits of the Phillips
acquisition are not realized, as well as risks inherent in oil and
natural gas drilling and production activities, including risks
with respect to low or declining prices for oil and natural gas
that could result in downward revisions to the value of proved
reserves or otherwise cause operators to delay or suspend planned
drilling and completion operations or reduce production levels,
which would adversely impact cash flow; risks related to the
impairment of oil and natural gas properties; risks relating to the
availability of capital to fund drilling operations that can be
adversely affected by adverse drilling results, production declines
and declines in oil and natural gas prices; risks regarding
Kimbell's ability to meet financial covenants under its credit
agreement or its ability to obtain amendments or waivers to effect
such compliance; risks relating to Kimbell's hedging activities;
risks of fire, explosion, blowouts, pipe failure, casing collapse,
unusual or unexpected formation pressures, environmental hazards,
and other operating and production risks, which may temporarily or
permanently reduce production or cause initial production or test
results to not be indicative of future well performance or delay
the timing of sales or completion of drilling operations; risks
relating to delays in receipt of drilling permits; risks relating
to unexpected adverse developments in the status of properties;
risks relating to borrowing base redeterminations by Kimbell's
lenders; risks relating to the absence or delay in receipt of
government approvals or third-party consents; risks relating to
acquisitions, dispositions and drop downs of assets; risks relating
to Kimbell's ability to realize the anticipated benefits from and
to integrate acquired assets, including the assets acquired in the
Phillips acquisition; and other risks described in Kimbell's Annual
Report on Form 10-K and other filings with the SEC, available at
the SEC's website at www.sec.gov. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this news release.
Contact:
Rick Black
Dennard Lascar Investor
Relations
krp@dennardlascar.com
(713) 529-6600
– Financial statements follow –
Kimbell Royalty
Partners, LP
|
Condensed
Consolidated Balance Sheet
|
(Unaudited, in
thousands)
|
|
|
June
30,
|
|
2019
|
Assets:
|
|
|
Current
assets
|
|
|
Cash and cash
equivalents
|
$
|
16,888
|
Oil, natural gas and
NGL receivables
|
|
18,872
|
Commodity derivative
assets
|
|
1,957
|
Accounts receivable and
other current assets
|
|
376
|
Total current
assets
|
|
38,093
|
Property and
equipment, net
|
|
817
|
Oil and natural gas
properties
|
|
|
Oil and natural gas
properties (full cost method)
|
|
987,748
|
Less: accumulated
depreciation, depletion and impairment
|
|
(161,301)
|
Total oil and natural
gas properties, net
|
|
826,447
|
Right-of-use assets,
net
|
|
620
|
Loan origination
costs, net
|
|
2,749
|
Total assets
|
$
|
868,726
|
Liabilities,
mezzanine equity and unitholders' equity:
|
|
|
Current
liabilities
|
|
|
Accounts
payable
|
$
|
1,184
|
Other current
liabilities
|
|
4,206
|
Total current
liabilities
|
|
5,390
|
Commodity derivative
liabilities
|
|
291
|
Operating lease
liabilities
|
|
616
|
Long-term
debt
|
|
87,310
|
Total
liabilities
|
|
93,607
|
Commitments and
contingencies
|
|
|
Mezzanine
equity:
|
|
|
Series A preferred
units
|
|
71,820
|
Unitholders'
Equity:
|
|
|
Common units
|
|
337,096
|
Class B
units
|
|
1,191
|
Total unitholders'
equity
|
|
338,287
|
Noncontrolling
interest
|
|
365,012
|
Total equity
|
|
703,299
|
Total liabilities,
mezzanine equity and unitholders' equity
|
$
|
868,726
|
Kimbell Royalty
Partners, LP
|
Condensed
Consolidated Statements of Operations
|
(Unaudited, in
thousands, except per-unit data and unit count)
|
|
|
Three Months
Ended
|
|
Three Months
Ended
|
|
June 30,
2019
|
|
June 30,
2018
|
Revenue
|
|
|
|
|
|
Oil, natural gas and
NGL revenues
|
$
|
27,914
|
|
$
|
10,812
|
Lease bonus and other
income
|
|
1,289
|
|
|
434
|
Gain (loss) on
commodity derivative instruments
|
|
2,734
|
|
|
(538)
|
Total
revenues
|
|
31,937
|
|
|
10,708
|
Costs and
expenses
|
|
|
|
|
|
Production and ad
valorem taxes
|
|
1,925
|
|
|
805
|
Depreciation and
depletion expense
|
|
12,311
|
|
|
3,432
|
Impairment of oil and
natural gas properties
|
|
28,147
|
|
|
—
|
Marketing and other
deductions
|
|
1,749
|
|
|
609
|
General and
administrative expenses
|
|
6,221
|
|
|
4,000
|
Total costs and
expenses
|
|
50,353
|
|
|
8,846
|
Operating (loss)
income
|
|
(18,416)
|
|
|
1,862
|
Other
expense
|
|
|
|
|
|
Interest
expense
|
|
1,442
|
|
|
484
|
Net (loss) income
before income taxes
|
|
(19,858)
|
|
|
1,378
|
Provision for income
taxes
|
|
508
|
|
|
—
|
Net (loss)
income
|
|
(20,366)
|
|
|
1,378
|
Distribution and
accretion on Series A preferred units
|
|
(3,470)
|
|
|
—
|
Net loss attributable
to noncontrolling interests
|
|
12,101
|
|
|
—
|
Distributions on Class
B units
|
|
(23)
|
|
|
—
|
Net (loss) income
attributable to common units
|
$
|
(11,758)
|
|
$
|
1,378
|
|
|
|
|
|
|
Basic
|
$
|
(0.54)
|
|
$
|
0.08
|
Diluted
|
$
|
(0.54)
|
|
$
|
0.08
|
Weighted average
number of common units outstanding
|
|
|
|
|
|
Basic
|
|
21,727,185
|
|
|
16,377,476
|
Diluted
|
|
21,727,185
|
|
|
16,809,149
|
Kimbell Royalty Partners, LP
Supplemental Schedules
NON-GAAP FINANCIAL MEASURES
Adjusted EBITDA is used as a supplemental non-GAAP financial
measure by management and external users of our financial
statements, such as industry analysts, investors, lenders and
rating agencies. We believe Adjusted EBITDA is useful because
it allows us to more effectively evaluate our operating performance
and compare the results of our operations period to period without
regard to our financing methods or capital structure. In
addition, management uses Adjusted EBITDA to evaluate cash flow
available to pay distributions to our unitholders. We define
Adjusted EBITDA as net income (loss) before interest expense, net
of capitalized interest, non-cash unit-based compensation,
unrealized gains and losses on commodity derivative instruments,
transaction costs, impairment of oil and natural gas properties,
income taxes and depreciation and depletion expense. Adjusted
EBITDA is not a measure of net income (loss) or net cash provided
by operating activities as determined by GAAP. We exclude the
items listed above from net income (loss) in arriving at Adjusted
EBITDA because these amounts can vary substantially from company to
company within our industry depending upon accounting methods and
book values of assets, capital structures and the method by which
the assets were acquired. Certain items excluded from
Adjusted EBITDA are significant components in understanding and
assessing a company's financial performance, such as a company's
cost of capital and tax structure, as well as historic costs of
depreciable assets, none of which are components of Adjusted
EBITDA. Adjusted EBITDA should not be considered an
alternative to net income, oil, natural gas and natural gas liquids
revenues, net cash provided by operating activities or any other
measure of financial performance or liquidity presented in
accordance with GAAP. Our computations of Adjusted EBITDA may
not be comparable to other similarly titled measures of other
companies. We expect that cash available for distribution for
each quarter will generally equal our Adjusted EBITDA for the
quarter, less cash needed for debt service and other contractual
obligations and fixed charges and reserves for future operating or
capital needs that the board of directors may determine is
appropriate.
Kimbell Royalty
Partners, LP
|
Supplemental
Schedules
|
(Unaudited, in
thousands)
|
|
|
|
Three Months
Ended
|
|
Three Months
Ended
|
|
June 30,
2019
|
|
June 30,
2019
|
Reconciliation of
net cash provided by operating activities to Adjusted
EBITDA
|
|
|
|
|
|
Net cash provided by
operating activities
|
$
|
23,332
|
|
$
|
6,895
|
Interest
expense
|
|
1,442
|
|
|
484
|
Provision for income
taxes
|
|
508
|
|
|
—
|
Impairment of oil and
natural gas properties
|
|
(28,147)
|
|
|
—
|
Amortization of
right-of-use assets
|
|
(11)
|
|
|
—
|
Amortization of loan
origination costs
|
|
(260)
|
|
|
(16)
|
Unit-based
compensation
|
|
(2,113)
|
|
|
(723)
|
Change in fair value of
open commodity derivative instruments
|
|
2,604
|
|
|
(469)
|
Changes in operating
assets and liabilities:
|
|
|
|
|
|
Oil, natural gas and
NGL revenues receivable
|
|
(2,600)
|
|
|
38
|
Other
receivables
|
|
(167)
|
|
|
(145)
|
Accounts
payable
|
|
257
|
|
|
(826)
|
Other current
liabilities
|
|
(960)
|
|
|
56
|
Lease
liabilities
|
|
10
|
|
|
—
|
Consolidated
EBITDA
|
$
|
(6,105)
|
|
$
|
5,294
|
Add:
|
|
|
|
|
|
Transaction
costs
|
|
—
|
|
|
1,189
|
Impairment of oil and
natural gas properties
|
|
28,147
|
|
|
—
|
Unit-based
compensation
|
|
2,113
|
|
|
723
|
Change in fair value of
open commodity derivative instruments
|
|
(2,604)
|
|
|
469
|
Consolidated Adjusted
EBITDA
|
$
|
21,551
|
|
$
|
7,675
|
Adjusted EBITDA
attributable to non-controlling interest
|
|
(10,941)
|
|
|
—
|
Adjusted EBITDA
attributable to Kimbell Royalty Partners, LP
|
$
|
10,610
|
|
$
|
7,675
|
Kimbell Royalty
Partners, LP
|
Supplemental
Schedules
|
(Unaudited, in
thousands)
|
|
|
Three Months
Ended
|
|
June 30,
2019
|
|
|
|
Net
loss
|
$
|
(20,366)
|
Depreciation and
depletion expense
|
|
12,311
|
Interest
expense
|
|
1,442
|
Provision for income
taxes
|
|
508
|
Consolidated
EBITDA
|
$
|
(6,105)
|
Impairment of oil and
natural gas properties
|
|
28,147
|
Unit-based
compensation
|
|
2,113
|
Change in fair value of
open commodity derivative instruments
|
|
(2,604)
|
Consolidated Adjusted
EBITDA
|
$
|
21,551
|
Adjusted EBITDA
attributable to non-controlling interest
|
|
(10,941)
|
Adjusted EBITDA
attributable to Kimbell Royalty Partners, LP
|
$
|
10,610
|
|
|
|
Adjustments to
reconcile Adjusted EBITDA to cash available
|
|
|
for
distribution
|
|
|
Cash interest
expense
|
|
583
|
Cash distributions on
Series A preferred units
|
|
948
|
Cash income tax
expense(1)
|
|
504
|
Cash distributions on
Class B units
|
|
23
|
Cash
reserves(1)
|
|
(504)
|
Cash available for
distribution on common units
|
$
|
9,056
|
|
|
|
Common units
outstanding on June 30, 2019
|
|
23,094,135
|
|
|
|
Cash available for
distribution per common unit outstanding
|
$
|
0.39
|
|
|
|
Common units
outstanding on August 5, 2019 Record Date
|
|
23,494,135
|
|
|
|
Second quarter
2019 distribution declared
|
$
|
0.39
|
|
(1) Reflects
cash taxes related to income allocation from the Series A preferred
units, which were issued to partially fund the Haymaker acquisition that closed in July
2018. Kimbell had previously retained cash for
post-closing costs and expects to
have adequate cash reserves set aside to offset future cash taxes
related to the Series A preferred units.
|
Kimbell Royalty
Partners, LP
|
Supplemental
Schedules
|
(Unaudited, in
thousands)
|
|
|
Three Months
Ended
|
|
March 31,
2019
|
|
|
|
Net
loss
|
$
|
(5,346)
|
Depreciation and
depletion expense
|
|
10,281
|
Interest
expense
|
|
1,423
|
Consolidated
EBITDA
|
$
|
6,358
|
Impairment of oil and
natural gas properties
|
|
2,802
|
Unit-based
compensation
|
|
1,770
|
Change in fair value of
open commodity derivative instruments
|
|
5,166
|
Consolidated Adjusted
EBITDA
|
$
|
16,096
|
Adjusted EBITDA
attributable to non-controlling interest
|
|
(9,407)
|
Adjusted EBITDA
attributable to Kimbell Royalty Partners, LP
|
$
|
6,689
|
|
|
|
Adjustments to
reconcile Adjusted EBITDA to cash available
|
|
|
for
distribution
|
|
|
Cash interest
expense
|
|
624
|
Cash distributions on
Series A preferred units
|
|
800
|
Cash distributions on
Class B units
|
|
23
|
Cash available for
distribution on common units
|
$
|
5,242
|
|
|
|
Common units
outstanding on March 31, 2019
|
|
19,495,403
|
|
|
|
Cash available for
distribution per common unit outstanding
|
$
|
0.27
|
|
|
|
Common units
outstanding on May 6, 2019 Record Date
|
|
23,095,403
|
|
|
|
First quarter 2019
distribution declared(1)
|
$
|
0.37
|
|
(1)The
difference between the declared distribution and the cash available
for distribution is primarily attributable to the acquisition of
the Phillips assets being effective on January 1, 2019, but only
reflected in the condensed consolidated financial statements from
March 25, 2019 onward.
|
Kimbell Royalty
Partners, LP
|
Supplemental
Schedules
|
(Unaudited,
in thousands)
|
|
|
Three Months
Ended
|
|
June 30,
2018
|
|
|
|
Net
income
|
$
|
1,378
|
Depreciation and
depletion expense
|
|
3,432
|
Interest
expense
|
|
484
|
EBITDA
|
$
|
5,294
|
Transaction
costs
|
|
1,189
|
Unit-based
compensation
|
|
723
|
Unrealized loss on
commodity derivative instruments
|
|
469
|
Adjusted
EBITDA
|
$
|
7,675
|
|
|
|
Adjustments to
reconcile Adjusted EBITDA to cash available
|
|
|
for
distribution
|
|
|
Cash interest
expense
|
|
(502)
|
Cash available for
distribution
|
$
|
7,173
|
|
|
|
Limited partner
units outstanding on June 30, 2018
|
|
16,839,462
|
|
|
|
Cash available for
distribution per common unit outstanding
|
$
|
0.43
|
|
|
|
Limited partner
units outstanding on August 6, 2018 Record
Date(1)
|
|
26,839,462
|
|
|
|
Second Quarter
2018 Distribution Declared(2)
|
$
|
0.43
|
|
(1) Includes 10
million units issued as partial consideration in the Haymaker
acquisition.
|
(2) Includes
allocated post-April 1, 2018 effective date cash receipts from the
acquired Haymaker assets.
|
Kimbell Royalty
Partners, LP
|
Supplemental
Schedules
|
(Unaudited)
|
|
Fixed Price Swaps as of June 30,
2019
|
|
|
|
Weighted
Average
|
|
Volumes
|
|
Fixed
Price
|
|
Oil
|
Nat
Gas
|
Oil
|
Nat
Gas
|
|
BBL
|
MMBTU
|
$/BBL
|
$/MMBTU
|
3Q 2019
|
56,488
|
972,716
|
$
61.47
|
$
2.74
|
4Q 2019
|
56,488
|
972,716
|
$
61.47
|
$
2.74
|
1Q 2020
|
55,874
|
962,143
|
$
60.22
|
$
2.89
|
2Q 2020
|
55,874
|
962,143
|
$
60.68
|
$
2.51
|
3Q 2020
|
56,304
|
829,288
|
$
50.45
|
$
2.53
|
4Q 2020
|
56,304
|
829,288
|
$
50.65
|
$
2.63
|
1Q 2021
|
51,570
|
726,030
|
$
56.10
|
$
2.85
|
2Q 2021
|
59,423
|
836,381
|
$
54.52
|
$
2.43
|
View original
content:http://www.prnewswire.com/news-releases/kimbell-royalty-partners-announces-record-second-quarter-2019-results-300898396.html
SOURCE Kimbell Royalty Partners, LP