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Kimbell Royalty Partners (KRP) investor relations material
Kimbell Royalty Partners Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong Q4 2025 results with run-rate daily production of 25,627 Boe/d, exceeding guidance midpoint, and a major $230 million Permian Basin acquisition, capping an outstanding year of organic growth.
Declared a Q4 distribution of $0.37 per unit, up 6% sequentially, with a 10.5% annualized yield and a 75% payout ratio, returning $1.60 per unit for the year.
Increased proved developed reserves by 8% to nearly 73 million Boe in 2025, driven by development and acquisitions.
Portfolio includes interests in over 133,000 gross wells and 17 million gross acres, with 98% of onshore rigs in counties where it holds mineral interests.
Since IPO in 2017, completed over $2.0 billion in M&A, growing run-rate average daily production by over 8x and returning 75% of IPO price via distributions.
Financial highlights
Q4 2025 oil, natural gas, and NGL revenues totaled $76 million, with total revenues at $82.5 million and consolidated Adjusted EBITDA of $64.8 million.
Q4 2025 net income was $24.8 million; net income attributable to common units was $19.2 million.
Q4 general and administrative expenses were $10.4 million ($2.63/Boe cash G&A); full-year cash G&A was $2.51/Boe.
Q4 distribution represented 75% of cash available for distribution; 25% used to pay down debt.
Market capitalization was $1.52 billion, with an enterprise value of $2.08 billion as of Q4 2025.
Outlook and guidance
2026 production guidance midpoint set at 25,500 Boe/d (range: 24,000–27,000 Boe/d), with oil comprising 46–50% and natural gas 30–34% of net production.
2026 payout ratio guidance remains at 75% of cash available for distribution, with 25% allocated to debt repayment.
Cash G&A guidance for 2026: $2.45–$2.65/Boe; depreciation & depletion: $13.00–$20.00/Boe.
Confident in continued development due to active rig count and line of sight wells exceeding maintenance needs.
Positioned as a leading consolidator in the $650 billion U.S. oil and gas royalty sector.
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