Q4 2025 Run-Rate Daily Production of 25,627 Boe/d (6:1) Exceeds Mid-Point of Guidance Activity on Acreage Remains Robust with 85 Active Rigs Drilling Representing 16% 1 Market Share of U.S. Land Rig Count Superior Five-Year Annual Average PDP Decline Rate of 14% Requires Only an Estimated 6.8 Net Wells Annually to Maintain Flat Production Compared to 7.1 Net Line-of-Site Wells Proved developed reserves increased by approximately 8% year-over-year to a record of nearly 73 Million Boe, reflecting continued development bolstered by acquired reserves Borrowing Base and Elected Commitment on Secured Revolving Credit Facility Reaffirmed with Lowered Borrowing Costs and Maturity Extended Until December 2030 Announces Q4 2025 Cash Distribution of $0.37 per Common Unit, up 6% from Q3 2025 Initiates 2026 Operational Guidance with Production Guidance Range Unchanged from 2025, Reinforcing Stability of Production Base FORT WORTH, Texas, Feb. 26, 2026 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and natural gas mineral and royalty interests in over 133,000 gross wells across 28 states, today announced financial and operating results for the quarter and full year ended December 31, 2025. Fourth Quarter 2025 Highlights Q4 2025 run-rate daily production of 25,627 barrels of oil equivalent ("Boe") per day (6:1) Q4 2025 oil, natural gas and NGL revenues of $76.0 million Q4 2025 net income of $24.8 million and net income attributable to common units of $19.2 million Q4 2025 consolidated Adjusted EBITDA of $64.8 million As of December 31, 2025, Kimbell's major properties2 had 7.09 net drilled but uncompleted wells ("DUCs") and net permitted locations on its acreage (4.66 net DUCs and 2.43 net permitted locations) compared to an estimated 6.8 net wells needed to maintain flat production As of December 31, 2025, Kimbell had 85 rigs actively drilling on its acreage, representing 16% market share of all land rigs drilling in the continental United States as of such time Proved developed reserves increased by approximately 8% year-over-year to a record of nearly 73 million Boe, reflecting continued development bolstered by acquired reserves On December 16, 2025, Kimbell amended and extended its secured revolving credit facility through December 16, 2030, reaffirming borrowing base and elected commitments of $625 million and lowering its cost of bank debt financing by a combined 35 basis points Announced a Q4 2025 cash distribution of $0.37 per common unit, reflecting a payout ratio of 75% of cash available for distribution; implies a 10.5% annualized yield based on the February 25, 2026 closing price of $14.13 per common unit; Kimbell intends to utilize the remaining 25% of its cash available for distribution to repay a portion of the outstanding borrowings under its secured revolving credit facility Initiated full year 2026 guidance with estimated daily production at its mid-point projected at 25,500 Boe/d for the year with a high-end projection of 27,000 Boe/d and low-end projection of 24,000 Boe/d; unchanged from 2025 production guidance range Robert Ravnaas, Chairman and Chief Executive Officer of Kimbell Royalty GP, LLC, Kimbell's general partner (the "General Partner"), commented: "2025 was another outstanding year for Kimbell.
