Declared a cash distribution of USD 0.47 per common unit, up 15% from Q1; plans to use the remaining 25% to repay about USD 17.9 million of revolver borrowings.
Borrowing base and aggregate commitments on the secured revolving credit facility increased to USD 660 million from USD 625 million.
Q2 results and production update
Kimbell Royalty Partners posted Q2 net income of USD 47.3 million; oil, natural gas and NGL revenues rose to a record USD 103 million.
Consolidated Adjusted EBITDA, a non-GAAP metric, climbed to a record USD 84.9 million; cash available for distribution reached USD 60 million.
Average daily production hit a record 25,830 Boe/d; included 9 days from the USD 145.9 million Mesa Royalties acquisition that closed June 22.
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