Kimbell Royalty Partners (KRP) Update - July 14

[dan_s]

KRP is a partnership that has elected to be taxed as a C-Corp. It is one of four minerals/royalties companies in our High Yield Income Portfolio.

The Company closed two acquisitions in the last seven months that have added over 4,000 Boepd and give them a more balanced production mix. On a Boe basis, production is approximately 52% natural gas, 34% crude oil and 14% NGLs. ~67% of this year's revenues will be from the sale of crude oil.

It pays variable dividends that, based on my forecast, should total $1.53/share this year. < Annualized yield is ~10.3%.
That compares to $1.99/share that was paid out in 2022.

Higher oil & gas prices should push dividends over $0.50/share in 2024.