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.
Recommended Reading
Eni, Algeria’s Sonatrach Sign Sustainability, Energy Security Agreements
2023-01-23 - Eni and Sonatrach will explore the reduction of emissions, energy efficiency initiatives, renewable energy developments and other ways to create a sustainable energy transition.
Canada Pension Plan to Invest in California Oil Venture Alongside IKAV
2023-03-01 - Shell and Exxon's sale reflects the two companies' move out of mature energy properties as high oil and gas prices favor new deals.
Chevron, Exxon and Total Keen to Invest in India, Says Minister
2023-01-13 - India is encouraging joint development production of oil and gas assets and investment in its domestic E&P sector, says Hardeep Singh Puri, Ministry of Petroleum and Natural Gas.
Forty Under 40: Danny Yick, ConocoPhillips
2023-01-06 - Today's featured Forty Under 40 honoree is Danny Yick, who serves as senior director of corporate A&D for ConocoPhillips in Houston.
EOG Joins OGMP 2.0 For Improved Methane Emissions Reporting
2023-01-05 - Joining the Oil and Gas Methane Partnership 2.0 will leverage data to advance EOG Resources’ operations and emissions performance.