Kimbell Royalty Partners, LP filed its third quarter 2026 earnings announcement on November 5, 2026, reporting record daily production of 27,565 Boe/d and a quarterly cash distribution of $0.45 per common unit.

Key Highlights

  • Record production: Q3 2026 average daily production reached 27,565 barrels of oil equivalent per day (6:1 ratio), a record for the quarter.
  • Quarterly distribution: A cash distribution of $0.45 per common unit was declared, payable November 23, 2026 to unitholders of record as of November 16, 2026.
  • Preferred Unit redemption: On October 16, 2026, Kimbell gave notice to redeem 50% of the remaining Series A Cumulative Convertible Preferred Units for an aggregate redemption price of approximately $100.2 million, expected to close November 16, 2026.
  • Credit facility expansion: On October 15, 2026, the borrowing base and elected commitments on the secured revolving credit facility increased from $660 million to $750 million.
  • Consolidated Adjusted EBITDA: Q3 2026 consolidated Adjusted EBITDA was $80.4 million; including the Acquired Production from the effective date, it was $87.5 million.
  • Net income: Q3 2026 net income was approximately $17.3 million, with net income attributable to common units of approximately $12.4 million, or $0.12 per common unit.
  • Active rig count: As of September 30, 2026, 93 rigs were actively drilling on Kimbell's acreage, representing approximately 16% market share of all U.S. continental land rigs, up 2 rigs from Q2 2026.

Kimbell Royalty Partners Q3 2026 Financial and Operating Results

According to the filing, Kimbell Royalty Partners, LP (NYSE:KRP) reported total revenues of $86.3 million for the third quarter of 2026. The partnership disclosed that Q3 2026 oil, natural gas and NGL revenues were $96.9 million, and that including the Acquired Production from the effective date of June 1, 2026 through September 30, 2026, those revenues rose to $104.6 million. The $221.2 million Drop Down acquisition closed on August 21, 2026, contributing 41 days of production to the quarter. Following that closing, the filing states run-rate production was 28,910 Boe per day (6:1).

The filing reports that as of September 30, 2026, Kimbell had approximately $535.8 million in debt outstanding under its secured revolving credit facility, with net debt to trailing twelve month consolidated Adjusted EBITDA of approximately 1.5x, and was "in compliance with all financial covenants" under that facility. Undrawn capacity stood at approximately $124.2 million as of that date. The partnership also disclosed that it plans to use the remaining 25% of cash available for distribution for Q3 2026 to pay down approximately $18.8 million of outstanding revolving credit facility borrowings. The Preferred Unit redemption, expected to close November 16, 2026, is expected to be funded with borrowings under the secured revolving credit facility.

The filing notes that as of September 30, 2026, Kimbell's major properties had a record 9.37 net DUCs and net permitted locations compared to an estimated 8.20 net wells needed to maintain flat production. Excluding certain prior period adjustments, the Q3 2026 average realized price per barrel of oil was $86.18, per Mcf of natural gas was $2.21, per barrel of NGLs was $25.23, and per Boe combined was $40.41. G&A expense for the quarter was $10.7 million, of which $6.3 million was Cash G&A expense, or $2.48 per Boe. As of September 30, 2026 and November 5, 2026, Kimbell had outstanding 105,451,405 common units and 18,752,185 Class B units.

What Was Disclosed

Kimbell Royalty Partners disclosed Q3 2026 record daily production, quarterly financial results, a $0.45 per common unit cash distribution, a credit facility borrowing base increase to $750 million, and a notice to redeem 50% of remaining Preferred Units for approximately $100.2 million.