Kimbell Royalty Partners, LP announced the closing of its previously announced acquisition of mineral and royalty interests in the Midland Basin for approximately $230 million. The transaction was funded through a combination of an underwritten public offering of common units and borrowings under its revolving credit facility.
The acquired assets are located under the historic Mabee Ranch, concentrated in Martin County and Andrews County, and are expected to contribute significantly to Kimbell's production. Kimbell is entitled to all cash flow from production attributable to these assets since October 1, 2024.
The company estimates that the acquired assets produced approximately 1,842 Boe/d as of October 1, 2024, and projects similar daily production for the full year 2025. This acquisition strengthens Kimbell's position in the Permian Basin and is a key component of its growth strategy.
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