Kimbell Royalty Partners Announces Unanimous Reaffirmation of Borrowing Base

FORT WORTH, Texas, June 8, 2020 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and natural gas mineral and royalty interests in more than 96,000 gross wells across 28 states, today announced that the lenders under the Company's revolving credit facility unanimously reaffirmed the borrowing base at $300 million and total commitments of $225 million (or up to $300 million if the accordion feature is exercised).  The borrowing base was reaffirmed in part because the assets acquired in the acquisition of equity interests in Springbok Energy Partners, LLC and Springbok Energy Partners II, LLC provided support to Kimbell's existing, pre-acquisition borrowing base.  Increases in commitments pursuant to the revolving credit facility's accordion feature are subject to the satisfaction of certain conditions, including obtaining additional commitments from new or existing lenders.

About Kimbell Royalty Partners

Kimbell (NYSE: KRP) is a leading oil and natural gas mineral and royalty company based in Fort Worth, Texas.  Kimbell owns mineral and royalty interests in approximately 13 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 96,000 gross wells with over 40,000 wells in the Permian Basin. To learn more, visit http://www.kimbellrp.com.

Contact:
Rick Black
Dennard Lascar Investor Relations
krp@dennardlascar.com 
(713) 529-6600

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SOURCE Kimbell Royalty Partners, LP