The following is a summary of the Kimbell Royalty Partners, LP (KRP) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 revenue amounted to $77 million.

• Net income for the quarter was approximately $15.2 million, with $8.4 million attributable to common units, resulting in earnings of $0.11 per common unit.

• Announced a $0.42 distribution per common unit, reflecting strong cash flow and continued commitment to returning value to unitholders.

• Adjusted EBITDA stood at $65.8 million, indicating a strong earnings performance.

Business Progress:

• Maintained a robust rig count with 91 active rigs, representing a 16% market share of all land rigs drilling in the Continental United States.

• Achieved a record low cash G&A per BOE, demonstrating operational efficiency and discipline.

• Continued focus on debt paydown with 25% of cash available for distribution used to reduce borrowings.

Opportunities:

• Consistent operational advancements and market share maintenance provide a solid foundation for ongoing robust energy demand, especially in the Permian region.

Risks:

• Volatility in gas prices remains a challenge, potentially impacting revenue from gas production despite the stabilized operational environment in regions like Haynesville.

More details: Kimbell Royalty IR

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