Kimbell Royalty Partners LP, an MLP that owns oil and gas mineral and royalty interests across 20 states, reported its $90 million IPO Feb. 3.

It priced 5 million units at $18 each. The units will begin trading on the New York Stock Exchange under the ticker "KRP." The offering is expected to close on Feb. 8.

Underwriters received a 30-day option to purchase up to 750,000 additional units.

When the offering closes, the public will own about 30.6% limited partner interest, and certain parties contributing mineral and royalty interests will collectively own the remaining limited partner interests, the press release said.

The net proceeds will make a cash distribution to the parties who are contributing mineral and royalty interests.

Raymond James is the lead book-running manager. RBC Capital Markets and Stifel are joint book-running managers. Stephens Inc. and Wunderlich are co-managers.