2023-05-18 09:57:03 ET
Kimbell Royalty Partners ( NYSE: KRP ) said Thursday it closed the previously announced cash-and-stock purchase of mineral and royalty interests held by Sabalo Holdings, and issued revised guidance resulting from the acquisition.
Kimbell ( KRP ) is entitled to all cash flow from production attributable to the acquired assets since the April 1 effective date, and the company estimates the acquired assets will produce 1,901 boe/day.
The company said it plans to pay out 75% of projected cash available for distribution and utilize 25% of projected cash available for distribution to pay down part of the outstanding borrowings under its secured revolving credit facility each quarter.
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Kimbell Royalty Partners hikes full-year production guidance after closing deal