Kimbell Royalty Partners Declares Second Quarter 2021 Distribution

FORT WORTH, Texas, July 23, 2021 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell"), a leading owner of oil and natural gas mineral and royalty interests in more than 97,000 gross wells across 28 states, today announced that the Board of Directors of Kimbell Royalty GP, LLC, Kimbell's general partner, approved a cash distribution payment of 75% of projected cash available for distribution for the second quarter of 2021, or $0.31 per common unit.  The distribution will be payable on August 9, 2021 to common unitholders of record at the close of business on August 2, 2021.  Kimbell intends to utilize the remaining 25% of Q2 2021 projected cash available for distribution to pay down a portion of the outstanding borrowings under Kimbell's credit facility.  Since May 2020 (excluding the expected upcoming pay down from the remaining 25% of Q2 2021 projected cash available for distribution), Kimbell has paid down approximately $30.6 million of outstanding borrowings under its credit facility from allocating a portion of its cash available for distribution for debt pay down. 

About Kimbell Royalty Partners

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 97,000 gross wells with over 41,000 wells in the Permian Basin.  To learn more, visit kimbellrp.com.

Forward-Looking Statements

This news release includes forward-looking statements, including statements relating to the tax treatment of Kimbell's distributions. These and other forward-looking statements involve risks and uncertainties, including risks and uncertainties relating to Kimbell Royalty Operating, LLC's realized income and depletions deductions and production from the mineral and royalty interests owed by Kimbell Royalty Operating, LLC, Kimbell's business and the securities markets generally and other risks described in Kimbell's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission (the "SEC"), available at the SEC's website at www.sec.gov. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Kimbell's filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. 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.

Contact:
Rick Black
Dennard Lascar Investor Relations
krp@dennardlascar.com
(713) 529-6600

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SOURCE Kimbell Royalty Partners, LP