Kimbell Royalty Partners LP

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 21, 2024

KRP$15.15+0.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets at December 31, 2023 and 2022

CONSOLIDATED BALANCE SHEETS


· · December 31, · · December 31,
· · 2023 · · 2022
ASSETS
Current assets
Cash and cash equivalents	$30,992,670	$24,635,718
Oil, natural gas and NGL receivables	59,020,471	46,993,711
Derivative assets	11,427,735	—
Accounts receivable and other current assets	1,699,536	3,562,912
Total current assets	103,140,412	75,192,341
Property and equipment, net	589,895	953,781
Oil and natural gas properties
Oil and natural gas properties, using full cost method of accounting ($222,712,844 and $207,695,343 excluded from depletion at December 31, 2023 and 2022, respectively)	2,048,690,088	1,465,985,718
Less: accumulated depreciation, depletion and impairment	(827,033,944)	(712,716,951)
Total oil and natural gas properties, net	1,221,656,144	753,268,767
Right-of-use assets, net	2,189,243	2,525,323
Derivative assets	2,888,051	754,786
Loan origination costs, net	7,325,471	3,004,104
Assets of consolidated variable interest entities:
Cash	—	390,850
Investments held in trust	—	240,621,146
Prepaid expenses	—	35,201
Total assets	$1,337,789,216	$1,076,746,299

LIABILITIES, MEZZANINE EQUITY AND UNITHOLDERS' EQUITY
Current liabilities
Accounts payable	$6,594,736	$1,210,337
Other current liabilities	6,173,314	4,909,510
Derivative liabilities	208,710	12,646,720
Total current liabilities	12,976,760	18,766,567
Operating lease liabilities, excluding current portion	1,887,693	2,236,361
Derivative liabilities	60,094	432,142
Long-term debt	294,200,000	233,015,911
Other liabilities	197,917	322,917
Liabilities of consolidated variable interest entities:
Other current liabilities	—	512,725
Deferred underwriting commissions	—	8,050,000
Total liabilities	309,322,464	263,336,623
Commitments and contingencies (Note 16)
Mezzanine equity:
Series A preferred units (325,000 units and zero units issued and outstanding as of December 31, 2023 and 2022, respectively)	314,423,572	—
Redeemable non-controlling interest in Kimbell Tiger Acquisition Corporation	—	236,900,000
Kimbell Royalty Partners, LP unitholders' equity:
Common units (73,851,458 units and 64,231,833 units issued and outstanding as of December 31, 2023 and 2022, respectively)	670,530,748	601,841,776
Class B units (20,847,295 and 15,484,400 units issued and outstanding as of December 31, 2023 and 2022, respectively)	1,042,365	774,220
Total Kimbell Royalty Partners, LP unitholders' equity	671,573,113	602,615,996
Non-controlling interest (deficit) in OpCo	42,470,067	(26,106,320)
Total unitholders' equity	714,043,180	576,509,676
Total liabilities, mezzanine equity and unitholders' equity	$1,337,789,216	$1,076,746,299

ContentsView on SEC.gov

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