2024-04-09 22:06:36 ET
Summary
- Kimbell is projected to generate $2.38 per unit in distributable 2024 cash flow at the current strip.
- At a 75% payout ratio, this translates into a $0.44 to $0.45 per unit quarterly distribution.
- Kimbell's production guidance midpoint was slightly below my expectations.
- However, its guidance also appears to be somewhat conservative based on its number of line-of-sight wells.
- I thus believe that Kimbell's production will trend towards the upper end of its guidance.
Kimbell Royalty Partners ( KRP ) provided 2024 production guidance that was (at guidance midpoint) slightly lower than my expectations from January 2024 . Despite that, Kimbell should still be able to average a $0.44 to $0.45 per unit quarterly distribution in 2024, boosted by the improvement in oil prices....
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Kimbell Royalty Partners: 2024 Production Guidance May Be Conservative