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
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
