Kimbell Royalty Partners LP (NYSE: KRP) is an oil and natural gas mineral royalty company that acquires and owns mineral and royalty interests across producing basins in the United States. It makes money by collecting royalty payments tied to hydrocarbon production on acreage where it holds mineral rights, without bearing the direct costs of drilling or lease operating expenses that working interest owners face. Because mineral royalty owners receive a fraction of production revenue rather than paying exploration or development costs, the business carries a structurally lower cost burden than operators. KRP is organized as a master limited partnership, which affects how it distributes income to unitholders. The filing is classified under SIC code 1311, crude petroleum and natural gas, and was filed February 26, 2026 covering the fiscal year ended in that cycle.

Revenue model

Royalty and mineral interest income derived from a percentage of hydrocarbon production revenue on acreage where KRP holds mineral rights. KRP does not operate wells or bear lease operating expenses; revenue depends on production volumes, commodity prices for oil, natural gas, and natural gas liquids, and the royalty rate attached to each mineral interest.

Products and services

Mineral and royalty interests in oil and natural gas properties. Income streams include royalty payments from producing wells and lease bonus payments received when mineral acreage is leased to operators.

Customers and end markets

Operators and working interest owners who lease KRP's mineral acreage and pay royalties on production. End markets are crude oil, natural gas, and natural gas liquids commodity markets. No specific customer concentration data is supported by the provided filing excerpts.

Value-chain role

Passive mineral rights owner and royalty collector sitting upstream of operators in the oil and gas value chain. KRP does not drill, operate, or develop wells; it grants leases to operators and receives a contractual share of production proceeds.

Geographic exposure

United States producing basins. Specific basin or state breakdown is not supported by the provided filing excerpts.

Source: SEC 10-K, filed 2026-02-26

Industry: Crude Petroleum & Natural Gas Peers: MNRL Sub Inc. ConocoPhillips Dorchester Minerals LP Vital Energy, Inc. TELLURIAN INC. /DE/ Permian Basin Royalty Trust BAYTEX ENERGY USA, INC. Talos Energy Inc Sabine Royalty Trust