Kimbell Royalty Partners, LP reported its financial results for the third quarter of 2025, revealing total revenues of $80.6 million, a decrease from $83.8 million in the same period last year. The decline was primarily attributed to a drop in lease bonus and other income, which fell to $0.4 million from $3.2 million in the prior year. However, oil, natural gas, and NGL revenues increased to $76.8 million, up from $71.1 million, driven by higher production volumes and increased natural gas prices. The company’s net income for the quarter was $22.3 million, compared to $25.8 million in the previous year, resulting in a net income per common unit of $0.19, down from $0.22.
In terms of operational performance, Kimbell Royalty Partners saw production volumes rise to 2.35 million barrels of oil equivalent (Boe) for the quarter, an increase of 154,899 Boe from the prior year. This growth was largely due to the Boren Acquisition completed in January 2025, which added significant mineral and royalty interests. The average prices received for oil decreased to $64.42 per barrel, while natural gas prices increased to $2.67 per Mcf, reflecting broader market trends.
The company’s balance sheet showed total assets of $1.25 billion as of September 30, 2025, up from $1.12 billion at the end of 2024. This increase was driven by the acquisition of oil and natural gas properties, which rose to $2.27 billion, compared to $2.05 billion at the end of the previous year. Kimbell Royalty Partners also reported long-term debt of $448.5 million, significantly higher than $239.2 million at the end of 2024, reflecting additional borrowings to finance the Boren Acquisition and the partial redemption of Series A preferred units.
Looking ahead, Kimbell Royalty Partners plans to continue pursuing growth through acquisitions and organic development of its existing properties. The company has indicated that it will maintain a focus on increasing cash distributions to unitholders, with a quarterly cash distribution of $0.35 per common unit declared for the third quarter of 2025. The partnership remains vigilant regarding market conditions, particularly the volatility in commodity prices influenced by global geopolitical events and economic factors. The company’s management expressed confidence in its ability to navigate these challenges while continuing to enhance shareholder value.
About Kimbell Royalty Partners, LP
Kimbell Royalty Partners owns and acquires mineral and royalty interests in U.S. oil and natural gas properties. Its assets include interests in over 12 million acres across major basins, generating revenue from royalty payments on production. The company benefits from diversified, low-decline assets, extensive industry expertise, and exposure to high-quality resource plays, providing long-term cash flow without funding exploration or development costs.
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