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Kimbell Royalty Partners Closes $145.9 Million Mesa Royalties Deal

Kimbell Royalty Partners (KRP) closed its acquisition of mineral and royalty interests from Mesa Royalties for $145.9 million in units and cash.The deal was funded with 6.9 million newly issued common units valued at $101.9 million and $44 million in cash, Kimbell said Monday in a statement.The assets span 16 Permian Basin counties and are expected to produce 1,390 barrels of oil equivalent per day over the next 12 months, Kimbell said.

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Wire

Kimbell Royalty Partners Q1 Net Income, Revenue Decline; Shares Fall

Kimbell Royalty Partners (KRP) reported Q1 net income Thursday of $0.04 per unit, down from $0.20 a year earlier.Three analysts polled by FactSet expected $0.18.Total revenue for the quarter ended March 31 was $65.5 million, down from $84.2 million a year earlier.Analysts surveyed by FactSet expected $90.3 million.Shares of Kimbell Royalty were down more than 2% in Thursday trading.Price: $14.25, Change: $-0.34, Percent Change: -2.33%

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