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Kimbell Royalty

KRP Energy Oil & Gas E&P

Kimbell Royalty’s revenue for fiscal 2025 (year ended December 2025) was $333.8 million, up 7.93% from fiscal 2024. In the quarter to June 2026, revenue grew 30.0%, EPS grew 1,900.0%, free cash flow fell 66.7% and total debt rose 3.59%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

16.28 0.34 +2.13%
Market cap
$2.1B
P/E
19.4×
Fwd P/E
17.3×
Dividend yield
9.83%
F-score
6/9
Altman Z
n/a
Beneish M
−3.15
Dividend safety
62/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Kimbell Royalty (KRP) Business Profile

Updated before January 2025

Company Overview

Kimbell Royalty Partners (KRP) is a leading oil and gas mineral and royalty company headquartered in Fort Worth, Texas. Established in 2013, KRP has quickly grown to become a significant player in the energy sector, specializing in the acquisition and management of oil and gas mineral and royalty interests across the United States. The company operates as a publicly traded partnership and is listed on the New York Stock Exchange under the ticker symbol “KRP.”

KRP’s leadership team is composed of seasoned professionals with extensive experience in the energy and financial sectors. The company is led by its CEO, Robert D. Ravnaas, who has been instrumental in driving KRP’s growth and strategic direction. Other key executives include the CFO, Matt Daly, and COO, Brett Taylor, who collectively bring decades of expertise in energy operations, finance, and asset management.

Core Business Segments

KRP’s business is centered around the ownership and management of oil and gas mineral and royalty interests. The company operates in the following core segments:

1. Mineral and Royalty Interests

KRP owns a diversified portfolio of mineral and royalty interests across multiple oil and gas basins in the United States, including the Permian Basin, Eagle Ford Shale, Bakken Shale, and Haynesville Shale. These interests provide KRP with a steady stream of revenue from oil and gas production without the need for direct operational involvement.

2. Non-Participating Royalty Interests (NPRIs)

In addition to its mineral interests, KRP holds non-participating royalty interests, which entitle the company to a share of production revenue without bearing the costs of exploration, drilling, or production.

3. Overriding Royalty Interests (ORRIs)

KRP also manages overriding royalty interests, which are carved out of the working interest in oil and gas leases. These interests provide additional revenue streams and further diversify the company’s portfolio.

Business Model

KRP’s business model is built on the acquisition, management, and optimization of oil and gas mineral and royalty interests. The company generates revenue primarily through:

  • Royalty Income: KRP earns a percentage of the revenue from oil and gas production on its mineral and royalty interests. This income is not subject to the operational costs of production, making it a highly efficient revenue stream.
  • Acquisitions: KRP actively acquires additional mineral and royalty interests to expand its portfolio and enhance its revenue base. The company focuses on high-quality assets in prolific oil and gas basins.
  • Portfolio Diversification: By owning interests in multiple basins and across various operators, KRP reduces its exposure to risks associated with any single asset or operator.

Strategic Direction

KRP is committed to long-term growth and value creation for its unitholders. The company’s strategic priorities include:

  • Portfolio Expansion: KRP aims to continue acquiring high-quality mineral and royalty interests in key oil and gas basins to enhance its revenue streams and geographic diversification.
  • Sustainability Initiatives: While KRP operates in the traditional energy sector, the company is exploring ways to align with broader sustainability goals, including reducing its environmental footprint and supporting responsible energy production practices.
  • Technological Integration: KRP is leveraging advanced data analytics and technology to optimize its asset management and improve operational efficiency.
  • Distribution Growth: The company is focused on maintaining and growing its quarterly cash distributions to unitholders, which is a key component of its value proposition.

Competitive Landscape

KRP operates in a competitive market, with key competitors including:

  • Viper Energy Partners (VNOM): A similar publicly traded partnership focused on oil and gas mineral and royalty interests.
  • Black Stone Minerals (BSM): One of the largest owners of oil and gas mineral interests in the United States.
  • Brigham Minerals (MNRL): A company specializing in the acquisition and management of mineral and royalty interests.

KRP differentiates itself through its diversified portfolio, disciplined acquisition strategy, and focus on maximizing unitholder value.

Risk Factors

KRP faces several risks that could impact its business and financial performance, including:

  • Commodity Price Volatility: Fluctuations in oil and gas prices can significantly affect KRP’s revenue and profitability.
  • Regulatory Changes: Changes in environmental regulations or energy policies could impact the company’s operations and revenue streams.
  • Market Dependence: KRP’s revenue is dependent on the production levels and operational efficiency of third-party operators.
  • Supply Chain Disruptions: Disruptions in the supply chain for oil and gas production could indirectly affect KRP’s revenue.

Recent Developments

KRP has recently undertaken several initiatives to strengthen its market position:

  • Acquisitions: The company completed the acquisition of additional mineral and royalty interests in the Permian Basin, further solidifying its presence in one of the most prolific oil and gas regions in the United States.
  • Operational Enhancements: KRP has implemented advanced data analytics tools to improve its asset management and decision-making processes.
  • Market Adaptation: In response to global energy market dynamics, KRP has focused on diversifying its portfolio and reducing its exposure to any single operator or basin.

Investment Considerations

Strengths:

  • Diversified Portfolio: KRP’s interests span multiple basins and operators, reducing risk and enhancing revenue stability.
  • Efficient Business Model: The company’s focus on royalty income provides a steady revenue stream with minimal operational costs.
  • Growth Potential: KRP’s disciplined acquisition strategy positions it for long-term growth.

Risks:

  • Commodity Price Exposure: KRP’s revenue is sensitive to fluctuations in oil and gas prices.
  • Regulatory Risks: Changes in energy policies or environmental regulations could impact the company’s operations.
  • Market Dependence: KRP relies on third-party operators for production, which introduces operational risks.

Conclusion

Kimbell Royalty Partners is a well-established player in the oil and gas mineral and royalty sector, with a diversified portfolio and a proven business model. The company’s focus on acquisitions, operational efficiency, and unitholder value positions it for continued growth in the energy market. While KRP faces risks related to commodity prices and regulatory changes, its strengths and strategic direction make it an attractive investment opportunity for those seeking exposure to the energy sector.