Kimbell Royalty Partners, LP (NYSE:KRP) Files An 8-K Other Events
ME Staff 8-k
Kimbell Royalty Partners, LP (NYSE:KRP) Files An 8-K Other EventsItem 8.01. Other Events.
On April 21, 2017, Kimbell Royalty Partners, LP (the “Partnership”) completed the acquisition of 1.1 million gross acres (6,700 net royalty acres) of overriding royalty interests in the Anadarko Basin from Maxus Energy Corporation for $15.9 million. The acquisition primarily includes assets located in the panhandle of Texas and Northwest portion of Oklahoma. This assets, which are substantially all held by production, includes production from multiple stacked pay zones in over 2,600 producing wells located across 32 counties in five states throughout the Mid-Continent, including Texas, Oklahoma, Louisiana, Wyoming and New Mexico. A total of 145 wells have been drilled on the acquired interest since 2014. Management estimates that the average daily production is approximately 272 net Boe/d (6:1) for the first quarter of 2017 and total proved reserves are 1,873 MBoe (6:1) as of April 1, 2017, which consists of 74% natural gas, 16% natural gas liquids and 10% oil. The transaction was funded through the Partnership’s credit facility.
About Kimbell Royalty Partners, LP (NYSE:KRP) Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin. As of December 31, 2015, the Company’s mineral and royalty interests were located in 20 states and in every onshore basin across the continental United States, and included ownership in over 48,000 gross producing wells, including over 29,000 wells in the Permian Basin. The Company’s properties include Permian Basin, Mid-Continent, Terryville/Cotton Valley/Haynesville, Eagle Ford, Barnett Shale/Fort Worth Basin, Bakken/Williston Basin, San Juan Basin, Onshore California, DJ Basin/Rockies/Niobrara, Illinois Basin and others. Kimbell Royalty Partners, LP (NYSE:KRP) Recent Trading Information Kimbell Royalty Partners, LP (NYSE:KRP) closed its last trading session up +0.37 at 18.99 with 46,927 shares trading hands.