KRP on NYSE
Kimbell Royalty Partners, LP
American crude petroleum and natural gas company based in Fort Worth.
Price unavailable
Last updated Oct 18, 2026.
Overview
Compare with INFINITY NATURAL RESOURCES, INC., Vaalco Energy or RING ENERGY, INC., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Oil and Condensate brought in 61% of the revenue Kimbell Royalty Partners, LP broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Oil and Condensate | $183.2M | $215.5M | $195.5M |
| Natural Gas, Midstream | $59.5M | $50.2M | $78.4M |
| NGL revenue | $24.9M | $38.9M | $43.6M |
| Lease bonus and other income | $5.6M | $6.0M | $4.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Selling, general and admin12¢$39.7M
- Other costs58¢$193.2M
- Income tax0¢$1.3M
- Profit30¢$99.7M
Out of $333.8M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$246.5M
Out of $246.5M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Gain (loss) on commodity derivative instruments, net | $12.1M | -$1.3M | $20.9M |
| Total revenues | $333.8M | $309.3M | $294.1M |
| Production and ad valorem taxes | $20.4M | $20.4M | $20.3M |
| Depreciation and depletion expense | $124.6M | $135.1M | $96.5M |
| Impairment of oil and natural gas properties | $0 | $62.1M | $18.2M |
| Marketing and other deductions | $16.4M | $16.1M | $12.6M |
| General and administrative expense | $39.7M | $38.5M | $35.7M |
| Total costs and expenses | $201.0M | $272.3M | $184.2M |
| Operating income | $132.8M | $37.0M | $109.9M |
| Interest expense | -$34.5M | -$26.7M | -$25.9M |
| Loss on extinguishment of debt | -$480.0K | ||
| Other expense | -$12.0K | -$181.0K | |
| Net income before income taxes | $98.3M | $10.3M | $86.8M |
| Income tax (benefit) expense | -$1.3M | -$771.0K | $3.8M |
| Net income | $99.7M | $11.1M | $83.0M |
| Distribution and accretion on Series A preferred units | -$34.9M | -$21.1M | -$6.3M |
| Net (income) loss and distributions and accretion on Series A preferred units attributable to non-controlling interests | -$8.7M | $1.3M | -$16.5M |
| Distribution to Class B unitholders | -$58.0K | -$72.0K | -$89.0K |
| Net income (loss) attributable to common units of Kimbell Royalty Partners, LP | $56.0M | -$8.8M | $60.1M |
| Net income per unit attributable to common units Kimbell Royalty Partners, LP (basic) (in dollar per share) | $1 | -$0 | $1 |
| Net income per unit attributable to common units Kimbell Royalty Partners, LP (diluted) (in dollar per share) | $1 | -$0 | $1 |
| Weighted average number of common units outstanding Basic (in units) | 90.8M shares | 76.2M shares | 66.6M shares |
| Weighted average number of common units outstanding Diluted (in units) | 121.3M shares | 116.0M shares | 93.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $44.0M | $34.2M | ||
| Oil, natural gas and NGL receivables | $36.6M | $45.9M | ||
| Derivative assets | $6.5M | $2.4M | ||
| Accounts receivable and other current assets | $1.4M | $2.8M | ||
| Total current assets | $88.5M | $85.3M | ||
| Property and equipment, net | $629.0K | $267.0K | ||
| Oil and natural gas properties, using full cost method of accounting ($174,189 and $115,200 excluded from depletion at December 31, 2025 and December 31, 2024, respectively) | $2.3B | $2.0B | ||
| Less: accumulated depreciation, depletion and impairment | -$1.1B | -$1.0B | ||
| Total oil and natural gas properties, net | $1.1B | $1.0B | ||
| Right-of-use assets, net | $4.6M | $3.7M | ||
| Derivative assets | $2.6M | $566.0K | ||
| Loan origination costs, net | $9.7M | $5.3M | ||
| Total assets | $1.2B | $1.1B | ||
| Accounts payable | $3.1M | $6.5M | ||
| Other current liabilities | $7.1M | $6.0M | ||
| Derivative liabilities | $255.0K | |||
| Total current liabilities | $10.2M | $12.7M | ||
| Operating lease liabilities, excluding current portion | $4.4M | $3.6M | ||
| Derivative liabilities | $28.0K | $879.0K | ||
| Long-term debt | $441.5M | $239.2M | ||
| Other liabilities | $73.0K | |||
| Total liabilities | $456.2M | $256.4M | ||
| Series A preferred units (162,500 and 325,000 units issued and outstanding as of December 31, 2025 and 2024, respectively) | $158.8M | $316.0M | ||
| Common units (93,396,488 units and 80,969,651 units issued and outstanding as of December 31, 2025 and 2024, respectively) | $531.1M | $463.5M | ||
| Class B units (14,491,540 units and 14,524,120 units issued and outstanding as of December 31, 2025 and 2024, respectively) | $724.0K | $726.0K | ||
| Total Kimbell Royalty Partners, LP unitholders' equity | $531.8M | $464.2M | ||
| Non-controlling interest in OpCo | $82.5M | $83.3M | ||
| Total unitholders' equity | $614.4M | $547.5M | $714.0M | $576.5M |
| Total liabilities, mezzanine equity and unitholders' equity | $1.2B | $1.1B | ||
| Oil and natural gas properties excluded from depletion | $174.2M | $115.2M | ||
| Temporary equity, issued (in units) | 162.5K shares | 325.0K shares | ||
| Temporary equity, outstanding (in units) | 162.5K shares | 325.0K shares | ||
| Common units, issued (in units) | 93.4M shares | 81.0M shares | ||
| Common units, outstanding (in units) | 93.4M shares | 81.0M shares | ||
| Class B units, issued (in units) | 14.5M shares | 14.5M shares | ||
| Class B units, outstanding (in units) | 14.5M shares | 14.5M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $44.0M | $34.2M | ||
| Oil, natural gas and NGL receivables | $36.6M | $45.9M | ||
| Derivative assets | $6.5M | $2.4M | ||
| Accounts receivable and other current assets | $1.4M | $2.8M | ||
| Total current assets | $88.5M | $85.3M | ||
| Property and equipment, net | $629.0K | $267.0K | ||
| Oil and natural gas properties, using full cost method of accounting ($174,189 and $115,200 excluded from depletion at December 31, 2025 and December 31, 2024, respectively) | $2.3B | $2.0B | ||
| Less: accumulated depreciation, depletion and impairment | -$1.1B | -$1.0B | ||
| Total oil and natural gas properties, net | $1.1B | $1.0B | ||
| Right-of-use assets, net | $4.6M | $3.7M | ||
| Derivative assets | $2.6M | $566.0K | ||
| Loan origination costs, net | $9.7M | $5.3M | ||
| Total assets | $1.2B | $1.1B | ||
| Accounts payable | $3.1M | $6.5M | ||
| Other current liabilities | $7.1M | $6.0M | ||
| Derivative liabilities | $255.0K | |||
| Total current liabilities | $10.2M | $12.7M | ||
| Operating lease liabilities, excluding current portion | $4.4M | $3.6M | ||
| Derivative liabilities | $28.0K | $879.0K | ||
| Long-term debt | $441.5M | $239.2M | ||
| Other liabilities | $73.0K | |||
| Total liabilities | $456.2M | $256.4M | ||
| Series A preferred units (162,500 and 325,000 units issued and outstanding as of December 31, 2025 and 2024, respectively) | $158.8M | $316.0M | ||
| Common units (93,396,488 units and 80,969,651 units issued and outstanding as of December 31, 2025 and 2024, respectively) | $531.1M | $463.5M | ||
| Class B units (14,491,540 units and 14,524,120 units issued and outstanding as of December 31, 2025 and 2024, respectively) | $724.0K | $726.0K | ||
| Total Kimbell Royalty Partners, LP unitholders' equity | $531.8M | $464.2M | ||
| Non-controlling interest in OpCo | $82.5M | $83.3M | ||
| Total unitholders' equity | $614.4M | $547.5M | $714.0M | $576.5M |
| Total liabilities, mezzanine equity and unitholders' equity | $1.2B | $1.1B | ||
| Oil and natural gas properties excluded from depletion | $174.2M | $115.2M | ||
| Temporary equity, issued (in units) | 162.5K shares | 325.0K shares | ||
| Temporary equity, outstanding (in units) | 162.5K shares | 325.0K shares | ||
| Common units, issued (in units) | 93.4M shares | 81.0M shares | ||
| Common units, outstanding (in units) | 93.4M shares | 81.0M shares | ||
| Class B units, issued (in units) | 14.5M shares | 14.5M shares | ||
| Class B units, outstanding (in units) | 14.5M shares | 14.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $99.7M | $11.1M | $83.0M |
| Depreciation and depletion expense | $124.6M | $135.1M | $96.5M |
| Impairment of oil and natural gas properties | $0 | $62.1M | $18.2M |
| Amortization of right-of-use assets | $348.0K | $349.0K | $336.0K |
| Amortization of loan origination costs | $2.4M | $2.1M | $1.9M |
| Loss on extinguishment of debt | $480.0K | ||
| Unit-based compensation | $16.3M | $16.4M | $13.1M |
| Forfeiture of restricted units | -$57.0K | ||
| (Gain) loss on derivative instruments, net of settlements | -$7.2M | $12.2M | -$26.4M |
| Oil, natural gas and NGL receivables | $9.3M | $13.1M | -$12.0M |
| Accounts receivable and other current assets | $1.4M | -$1.1M | $1.9M |
| Accounts payable | -$917.0K | -$90.0K | $509.0K |
| Other current liabilities | $1.0M | -$20.0K | $1.3M |
| Operating lease liabilities | -$303.0K | -$382.0K | -$348.0K |
| Net cash provided by operating activities | $246.5M | $250.9M | $174.3M |
| Purchases of property and equipment | -$734.0K | -$188.0K | -$141.0K |
| Proceeds from sale of property and equipment | $12.0K | ||
| Purchase of oil and natural gas properties | -$222.8M | -$22.0K | -$490.7M |
| Proceeds from trust of variable interest entity | $931.0K | ||
| Net cash used in investing activities | -$223.5M | -$210.0K | -$246.7M |
| Proceeds from the issuance of Series A preferred units, net of issuance costs | $314.0M | ||
| Proceeds from equity offering, net of issuance costs | $163.6M | $110.7M | |
| Contributions from Class B unitholders | $268.0K | ||
| Redemption of Class B contributions on converted units | -$2.0K | -$316.0K | |
| Redemption of Series A preferred units | -$179.9M | ||
| Distribution to common unitholders | -$149.4M | -$135.9M | -$120.4M |
| Distribution to OpCo unitholders | -$23.2M | -$31.7M | -$31.6M |
| Distribution to Series A preferred unitholders | -$14.6M | -$19.5M | -$962.0K |
| Distribution to Class B unitholders | -$58.0K | -$72.0K | -$89.0K |
| Borrowings on long-term debt | $695.6M | $5.0M | $201.1M |
| Repayments on long-term debt | -$493.3M | -$60.0M | -$139.9M |
| Payment of loan origination costs | -$6.8M | -$63.0K | -$6.7M |
| Restricted units repurchased for tax withholding | -$5.1M | -$4.9M | -$4.9M |
| Net cash (used in) provided by financing activities | -$13.2M | -$247.5M | $78.4M |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | $9.8M | $3.2M | $6.0M |
| Cash paid for interest | $31.9M | $25.3M | $23.7M |
| Cash (refund from) paid for taxes | -$3.9M | $2.3M | |
| Units issued in exchange for oil and natural gas properties | $92.0M | ||
| Deemed distribution to Series A preferred units | $1.1M | $1.6M | $474.0K |
| Distribution on Series A preferred units in accounts payable | $2.5M | $4.9M | $4.9M |
| Recognition of tenant improvement asset | $73.0K | $125.0K | $125.0K |
| Right-of-use assets obtained in exchange for operating lease liabilities | $1.2M | $1.9M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Kimbell Royalty Partners, LP, and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
Chief operating officer
20202025
- PresidentRobert Davis Ravnaas Feb 2, 2017 to now15
- Chief financial officerRobert Davis Ravnaas Feb 2, 2017 to now15
- Chief operating officerMatthew S. Daly Jan 30, 2018 to now16
Board members and other officers (11)
- ControllerBlayne Rhynsburger Dec 10, 2018 to now17
- Chief Accounting OfficerJeff McInnis Feb 2, 2017 to Apr 25, 201918
- Senior V.P.-Corp. DevelopmentMatthew S. Daly Feb 2, 2017 to May 16, 201719
- Vice President-LandPeter Alcorn Feb 2, 2017 to now20
- Board memberErik B. Daugbjerg Apr 3, 2018 to now21
- Board memberBen J. Fortson Feb 2, 2017 to Feb 21, 202422
- Board memberBenny D. Duncan Feb 2, 2017 to Feb 14, 201823
- Board memberCraig Stone Feb 2, 2017 to now24
- Board memberMitch S. Wynne Feb 2, 2017 to now25
- Board memberT. Scott Martin Feb 2, 2017 to now26
- Board memberWilliam H. Adams Iii. Feb 2, 2017 to now27
Timeline
- Oct 30, 2015Founded Kimbell Royalty Partners, LP is founded28
Filings
260 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 54 major events, 131 insider forms, 13 large holders, 41 other. The latest 20:
- Sep 23, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 10, 2026424B3 EDGAR
- Sep 9, 2026EFFECT EDGAR
- Aug 28, 2026S-3 EDGAR
- Aug 27, 2026SCHEDULE 13D/A EDGAR
- Aug 27, 20263 EDGAR
- Aug 27, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 24, 20268-K EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 7, 20268-K EDGAR
- Jul 17, 20268-K EDGAR
- Jul 10, 2026424B3 EDGAR
- Jul 8, 2026EFFECT EDGAR
- Jun 26, 2026S-3 EDGAR
- Jun 23, 20268-K EDGAR
- May 19, 20268-K EDGAR
- May 7, 202610-Q EDGAR
- May 7, 20268-K EDGAR
- Apr 3, 2026SCHEDULE 13D/A EDGAR
- Mar 24, 20264 OWNERSHIP DOCUMENT EDGAR
The 260 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 13 such filings since October 2021, the latest 10:
- Aug 27, 2026SCHEDULE 13D/A
- Apr 3, 2026SCHEDULE 13D/A
- Mar 9, 2026SCHEDULE 13D/A
- Feb 17, 2026SCHEDULE 13D/A
- Aug 13, 2024SC 13G/A
- May 19, 2023SC 13D/A
- Feb 14, 2023SC 13G
- Dec 23, 2022SC 13G
- Oct 28, 2022SC 13D/A
- Jul 29, 2022SC 13D/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Van Eck Associates Corp | 3,627,850 | $52.7M | 0.0% | +2,783,040 |
| American Century Companies Inc | 3,384,774 | $49.2M | 0.0% | +180,936 |
| Morgan Stanley | 1,897,962 | $27.6M | 0.0% | +784,487 |
| Raymond James Financial Inc | 1,598,597 | $23.2M | 0.0% | +256,727 |
| Algert Global LLC | 1,391,083 | $20.2M | 0.2% | +141,808 |
| EnCap Investments L.P. | 1,306,178 | $19.0M | 5.9% | −4,126,046 |
| Vanguard Portfolio Management LLC | 1,063,105 | $15.4M | 0.0% | +243,222 |
| UBS Group AG | 977,329 | $14.2M | 0.0% | +53,371 |
| Nomura Asset Management International Inc. | 863,011 | $12.5M | 0.0% | −32,487 |
| Royal Bank Of Canada | 648,027 | $9.4M | 0.0% | +51,340 |
| Marshall Wace, Llp | 563,100 | $8.2M | 0.0% | −120,016 |
| Wells Fargo & Company/mn | 472,941 | $6.9M | 0.0% | −14,804 |
| Jpmorgan Chase & Co | 476,007 | $6.9M | 0.0% | +474,561 |
| Freestone Capital Holdings, LLC | 462,693 | $6.7M | 0.2% | +164,000 |
| Oxbow Advisors, LLC | 407,988 | $5.9M | 0.5% | New |
| Orvieto Partners, L.P. | 397,554 | $5.8M | 4.4% | No change |
| Yaupon Capital Management LP | 364,866 | $5.3M | 0.2% | −150,234 |
| LPL Financial LLC | 343,846 | $5.0M | 0.0% | +34,836 |
| Nordea Investment Management Ab | 321,949 | $4.7M | 0.0% | +2,265 |
| Stifel Financial Corp | 318,096 | $4.6M | 0.0% | +77,516 |
| First Trust Advisors LP | 312,289 | $4.5M | 0.0% | −29,778 |
| Arax Advisory Partners | 292,394 | $4.2M | 0.0% | New |
| BlackRock, Inc. | 284,281 | $4.1M | 0.0% | −44,615 |
| First Financial Bankshares Inc | 266,314 | $3.9M | 0.1% | −3,845 |
| Mirador Capital Partners LP | 245,170 | $3.6M | 0.4% | +312 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Mar 13, 2026 | August PflugerRepublican, House | Buy | $15,001 - $50,000 | −8.3% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGARRobert Davis Ravnaas, President
- 16
- 17SEC EDGARBlayne Rhynsburger, Controller
- 18
- 19
- 20SEC EDGARPeter Alcorn, Vice President-Land
- 21SEC EDGARErik B. Daugbjerg, Board member
- 22SEC EDGARBen J. Fortson, Board member
- 23SEC EDGARBenny D. Duncan, Board member
- 24SEC EDGARCraig Stone, Board member
- 25SEC EDGARMitch S. Wynne, Board member
- 26SEC EDGART. Scott Martin, Board member
- 27SEC EDGARWilliam H. Adams Iii., Board member
- 28