Kimbell Royalty Partners: New Permian Wells Should Boost Production And Oil Cut
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Kimbell Royalty Partners' Q3 2024 production and oil cut saw a modest decline compared to Q2 2024. Despite this, KRP declared a $0.41 per unit distribution, supported by hedges and lease bonus income. The company had a high number of DUCs at the end of Q3 2024, which are expected to boost production in Q4 2024 and into 2025.
November 29, 2024 | 12:15 pm
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Kimbell Royalty Partners experienced a slight decline in Q3 2024 production but maintained a $0.41 per unit distribution. The company expects increased production from new Permian wells in Q4 2024 and 2025.
Despite a modest decline in production, KRP's ability to declare a distribution indicates financial stability. The anticipated increase in production from new wells suggests potential growth, positively impacting short-term stock performance.
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