Kimbell Royalty Partners LP (STU:0R3)

Q4 2025 Kimbell Royalty Partners LP Earnings Call Transcript

Feb 26, 2026 / 04:00 PM GMT

Release Date Price: €11.63

Transcript 10-K8-K

Key Points

Positve

Kimbell Royalty Partners LP (KRP) reported strong fourth-quarter results, capping off an outstanding year with a $230 million acquisition in the Midland Basin.
The company declared a Q4 2025 distribution of $0.37 per common unit, up 6% from Q3 2025, focusing on returning value to unit holders.
KRP's pre-developed reserves increased approximately 8% in 2025 to a record level of nearly 73 million BOE.
The active rig count remains strong with 85 rigs drilling across KRP's acreage, representing a market share of US land rigs at 16%.
KRP maintains a conservative balance sheet with a net debt to trailing 12 months consolidated adjusted EBITDA of approximately 1.5 times, and $183.5 million in undrawn capacity under its secured revolving credit facility.

Negative

KRP's fourth-quarter general and administrative expenses were $10.4 million, with $6.2 million being cash G&A expense, which may indicate high operational costs.
The company faces uncertainty in production cadence for 2026 due to lack of control over development.
KRP's exposure to the Permian Basin means it is affected by seasonal fluctuations in natural gas differentials, which can impact revenues.
The competitive landscape for M&A outside the Permian Basin remains challenging, despite reduced competition.
KRP's net debt has only decreased by $30 million in the last six months, indicating slow progress in debt reduction.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KRP.N - Kimbell Royalty Partners LP
Q4 2025 Kimbell Royalty Partners LP Earnings Call
Feb 26, 2026 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Kimbell Royalty Partners 4th quarter earnings conference call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Rick Black, Investor Relations.

Thank you, Rick. You may begin.

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Unidentified_2 [2]
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Thank you, operator, and welcome

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