Published: May 23, 2023 |

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Kimbell Royalty Partners has closed the previously reported purchase of mineral and royalty interests held by MB Minerals, a subsidiary of Sabalo Holdings (a portfolio company of EnCap Investments), in a cash and unit transaction valued at approximately $140.8 million.

The purchase price for the acquisition was comprised of $48.8 million in cash (approximately 35 percent of the total consideration), approximately 5.4 million common units of Kimbell Royalty Operating valued at $83.4 million, and approximately 0.6 million newly issued common units of Kimbell Royalty Partners valued at $8.7 million. 

Kimbell is entitled to all cash flow from production attributable to the acquired assets since the effective date of April 1, 2023. Revenues and certain other operating statistics under generally accepted accounting principles will be recorded for the acquisition beginning on the closing date of May 17, 2023.

Kimbell Royalty Partners is a leading oil and gas mineral and royalty company based in Fort Worth, Texas. Kimbell owns mineral and royalty interests in more than 16 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 124,000 gross wells with over 48,000 wells in the Permian Basin.

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