Kimbell Royalty Partners LP

The MLP that owns oil and gas mineral and royalty interests across 20 states--with ownership in 48,000 gross producing wells including 29,000 in the Permian Basin-- reported its IPO, pricing 5 million common units at $18 and began trading on the New York Stock Exchange under the ticker "KRP." Underwriters received a 30-day option to purchase up to 750,000 additional units. When the offering closes, the public will own about 30.6% limited partner interest, and certain parties contributing mineral and royalty interests will collectively own the remaining limited partner interests. The market value was $290 million at $18 per share as priced. The net proceeds will make a cash distribution to the contributing parties. Raymond James is the lead book-running manager. RBC Capital Markets and Stifel are joint book-running managers. Stephens Inc. and Wunderlich are co-managers.