![Kimbell Royalty Partners Announces $14.00 Per Share Public Offering](/sites/default/files/styles/hart_news_article_image_640/public/image/2023/08/dividends_1.jpg?itok=Fi_G6eH1)
(Source: Shutterstock)
Kimbell Royalty Partners announced the pricing of its public offering of 7.25 million common units representing limited partner interests, according to an Aug. 2 press release.
The public offering price is $14.00 per common unit. The company anticipates total gross proceeds of approximately $101.5 million. Additionally, the underwriters have been given an option to purchase up to 1.087 million more units at the public offering price less the underwriting discount and commissions. The offering is anticipated to close on Aug. 7.
Kimbell intends to use the net proceeds to repay its outstanding borrowings under its revolving credit facility, according to the release.
Citigroup, BofA Securities, Truist Securities, Mizuho and RBC Capital Markets are joint-bookrunners managers for the offering. PNC Capital Markets, Keybanc Capital Markets, Stephens Inc., Stifel and TD Securities are acting as co-managers.
Recommended Reading
Exclusive: Early Findings Show Untapped Potential in Barnett Exploration
2024-12-03 - Steven Jolley, Halliburton’s Permian Basin technology manager, gives insight into potential for new drilling opportunities around Andrews County and efficiencies operators are seeing within the Permian, in this Hart Energy Exclusive interview.
Exxon’s Custom, Lightweight Proppant Boosts Permian EURs by 15%
2024-12-17 - Exxon is lowering drilling and completion costs, boosting EURs by 15% with custom proppant and considering upside from less developed Permian Basin zones.
More Uinta, Green River Gas Needed as Western US Demand Grows
2025-01-22 - Natural gas demand in the western U.S. market is rising, risking supply shortages later this decade. Experts say gas from the Uinta and Green River basins will make up some of the shortfall.
Shale Outlook Eagle Ford: Sustaining the Long Plateau in South Texas
2025-01-08 - The Eagle Ford lacks the growth profile of the Permian Basin, but thoughtful M&A and refrac projects are extending operator inventories.
The Midland—Oxy’s Second Growth Engine—Already Purring
2024-12-04 - From 18,000-ft laterals to new exploration in the Emma Barnett, Thaimar Ramirez, president and general manager of Oxy’s Midland Basin Business Unit, detailed the integration of its $12 billion CrownRock takeover.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.