September 27, 2018 - 9:10 AM EDT
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Kimbell Royalty Partners, LP Prices Public Offering of Common Units

FORT WORTH, Texas, Sept. 27, 2018 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell") today announced the pricing of its public offering of 3,000,000 common units representing limited partner interests at a public offering price of $19.00 per common unit. The total gross proceeds of the offering, before underwriters' discounts and estimated offering expenses, will be approximately $57 million. Kimbell has granted the underwriters a 30-day option to purchase up to 450,000 additional common units.

The offering is expected to close on October 1, 2018, subject to customary closing conditions. Kimbell intends to use the net proceeds from the offering, including any net proceeds from the exercise of the underwriters' option to purchase additional common units, to repay a portion of the outstanding borrowings under its revolving credit facility.

Credit Suisse Securities (USA) LLC and UBS Investment Bank are acting as lead book-running managers for the offering. Raymond James & Associates, Inc. and RBC Capital Markets, LLC are also acting as bookrunners for the offering. When available, a copy of the prospectus for the offering may be obtained from:

Credit Suisse Securities (USA) LLC

Eleven Madison Avenue, Level 1B

New York, NY 10010

Attn: Prospectus Department

Telephone: (800) 221-1037

 

UBS Securities LLC

1285 Avenue of the Americas

New York, NY 10019

Attn: Prospectus Department

Telephone: (888) 827-7275

 

Raymond James & Associates, Inc.

Attn:  Equity Syndicate

880 Carillon Parkway

St. Petersburg, FL 33716

[email protected]

Telephone: (800) 248-8863

 

RBC Capital Markets, LLC

Attn:  Equity Syndicate

Three World Financial Center

200 Vesey Street, 8th Floor

New York, NY 10281

Telephone: (877) 822-4089

 

To obtain a copy of the prospectus free of charge, visit the Securities and Exchange Commission's ("SEC") website (www.sec.gov) and search under the registrant's name, "Kimbell Royalty Partners, LP."

The common units will be issued and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the SEC.  This news release shall not constitute an offer to sell or the solicitation of an offer to buy the common units, nor shall there be any sale of the common units in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering may only be made by means of a prospectus supplement and related base prospectus.

About Kimbell Royalty Partners

Kimbell is an oil and gas mineral and royalty company based in Fort Worth, Texas. Kimbell is managed by its general partner, Kimbell Royalty GP, LLC. Kimbell owns mineral and royalty interests in approximately 11.1 million gross acres in 28 states and in nearly every major onshore basin in the continental United States, including ownership in more than 84,000 gross producing wells with over 38,000 wells in the Permian Basin.

Forward-Looking Statements

This news release includes forward-looking statements, including statements related to the public offering and the use of proceeds therefrom and other statements that are not historical facts. These forward-looking statements involve risks and uncertainties.  Except as required by law, Kimbell undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Kimbell's Annual Report on Form 10-K and other filings with the SEC, available at the SEC's website at www.sec.gov.  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 Investor Relations
[email protected]
(713) 529-6600

 

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SOURCE Kimbell Royalty Partners, LP


Source: PR Newswire (September 27, 2018 - 9:10 AM EDT)

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