Kimbell Royalty Partners Posts 25,522 Boe/d Run-Rate, Declares $0.41 Distribution
Kimbell achieved a 25,522 Boe/d run-rate in Q1 2026 with $82.9 million in revenues and $68.0 million in adjusted EBITDA. It declared a $0.41 per unit distribution (11.2% annual yield), ran 85 rigs (16% U.S. land market share), and repurchased $7.3 million of units.
1. Q1 Production and Financial Results
Kimbell reported Q1 2026 run-rate daily production of 25,522 Boe/d (6:1), generating $82.9 million in oil, gas and NGL revenues and net income of $6.9 million. Consolidated adjusted EBITDA reached $68.0 million while cash G&A per Boe was $2.31, below the low-end of guidance, reflecting operational discipline and leverage.
2. Distribution and Share Repurchases
The Partnership declared a $0.41 per common unit cash distribution, reflecting a 75% payout ratio and an 11.2% annualized yield based on the May 6 closing unit price. It allocated the remaining 25% of cash to repay $14.5 million of revolver borrowings and repurchased 500,000 common units for $7.3 million.
3. Operational Activity and Guidance
As of March 31, 2026, Kimbell had 85 rigs actively drilling across its acreage, representing 16% of U.S. land rig count, and held 6.85 net DUCs plus permitted locations to maintain flat production. The company affirmed its 2026 financial and operational guidance ranges previously disclosed.