FORT WORTH, Texas, Feb. 3, 2017 /PRNewswire/ -- Kimbell Royalty Partners, LP (the Partnership), a leading owner of oil and natural gas mineral and royalty interests across twenty states, today announced the pricing of its initial public offering of 5,000,000 common units representing limited partner interests at a price of $18.00 per common unit.  The common units will begin trading on the New York Stock Exchange under the ticker symbol "KRP" on February 3, 2017.  The offering is expected to close on February 8, 2017, subject to customary closing conditions.

The Partnership has granted the underwriters of the offering a 30-day option to purchase up to an additional 750,000 common units. At the conclusion of the offering, the public will own an approximate 30.6% limited partner interest in the Partnership (or an approximate 35.2% limited partner interest if the underwriters exercise in full their option to purchase additional common units).  Certain parties who are contributing oil and natural gas mineral and royalty interests to the Partnership at the closing of the offering will collectively own the remaining limited partner interests in the Partnership.  The Partnership intends to use all of the net proceeds from the offering to make a cash distribution to the parties who are contributing oil and natural gas mineral and royalty interests to the Partnership.

Raymond James is acting as the lead book-running manager in the offering. RBC Capital Markets and Stifel are also acting as joint book-running managers.  Stephens Inc. and Wunderlich are acting as co-managers.  The offering is being made only by means of a prospectus.  A copy of the prospectus related to the offering may be obtained, when available, from:

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (SEC).  To obtain a copy of the prospectus free of charge, visit the SEC's website (www.sec.gov) and search under the registrant's name, "Kimbell Royalty Partners, LP."

This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Kimbell Royalty Partners, LP

Kimbell Royalty Partners, LP (KRP) is an oil and gas mineral and royalty variable rate master limited partnership based in Fort Worth, Texas.  KRP is managed by its general partner, Kimbell Royalty GP, LLC, and owns mineral and royalty interests in approximately 4.5 million gross acres in twenty states and in nearly every major onshore basin in the continental United States, including ownership in more than 48,000 gross producing wells with over 29,000 wells in the Permian Basin.

Forward-Looking Statements

This news release includes forward-looking statements. These forward-looking statements involve risks and uncertainties, including risks relating to the securities markets generally. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the preliminary prospectus. Kimbell Royalty Partners, LP undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release.

Contact:

Rick Black
Dennard-Lascar Associates
krp@dennardlascar.com
(713) 529-6600

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/kimbell-royalty-partners-prices-initial-public-offering-300401799.html

SOURCE Kimbell Royalty Partners, LP

Related Links

http://rcroyalties.com