$145.9M Permian Basin Acquisition Finalized by Kimbell Royalty Partners
Summary
Kimbell Royalty Partners has finalized its acquisition of Permian Basin mineral and royalty interests from Mesa Royalties for $145.9 million. This follows the initial announcement on May 19th, where the acquisition was valued at $147.0 million. The deal, funded with $44.0 million in cash and 6.9 million newly issued units, adds assets expected to produce approximately 1,390 Boe/d. This material acquisition expands Kimbell's Permian footprint and immediately contributes to production, removing transaction uncertainty.
At the time of this announcement, KRP was trading at $14.70 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $11.31 to $15.80. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.