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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 13,317,833 $ 7,052,414
Oil, natural gas and NGL receivables 53,595,514 35,147,145
Derivative assets 2,040,558 166,307
Accounts receivable and other current assets 2,145,474 3,051,593
Total current assets 71,099,379 45,417,459
Property and equipment, net 1,233,673 1,888,247
Investment in affiliate (equity method) 1,137,528 4,738,822
Oil and natural gas properties    
Oil and natural gas properties, using full cost method of accounting ($65,876,690 and $153,284,173 excluded from depletion at June 30, 2022 and December 31, 2021, respectively) 1,204,839,460 1,204,395,484
Less: accumulated depreciation, depletion and impairment (684,968,794) (663,603,142)
Total oil and natural gas properties, net 519,870,666 540,792,342
Right-of-use assets, net 2,687,699 2,844,997
Derivative assets 1,300,119 1,590,501
Loan origination costs, net 3,747,965 4,214,484
Investments held in trust 237,200,000  
Total assets 839,425,041 601,486,852
Current liabilities    
Accounts payable 1,552,991 811,019
Other current liabilities 5,178,531 3,319,495
Derivative liabilities 36,191,134 24,190,678
Total current liabilities 42,922,656 28,321,192
Operating lease liabilities, excluding current portion 2,401,557 2,561,274
Derivative liabilities 5,891,186 4,190,776
Long-term debt 216,115,911 217,115,911
Other liabilities 385,417 447,918
Total liabilities 276,202,747 252,637,071
Commitments and contingencies (Note 15)
Mezzanine equity:    
Redeemable noncontrolling interest in Kimbell Tiger Acquisition Corporation 236,900,000  
Kimbell Royalty Partners, LP unitholders' equity:    
Common units (57,331,833 units and 47,162,773 units issued and outstanding as of June 30, 2022 and December 31, 2021, respectively) 475,269,981 328,717,841
Class B units (8,211,579 and 17,611,579 units issued and outstanding as of June 30, 2022 and December 31, 2021, respectively) 410,579 880,579
Total Kimbell Royalty Partners, LP unitholders' equity 475,680,560 329,598,420
Noncontrolling (deficit) interest in OpCo (149,358,266) 19,251,361
Total equity 326,322,294 348,849,781
Total liabilities, mezzanine equity and unitholders' equity 839,425,041 $ 601,486,852
Consolidated variable interest entities    
Oil and natural gas properties    
Cash 786,721  
Investments held in trust 237,224,522  
Prepaid expenses 336,769  
Current liabilities    
Accounts payable 281  
Other current liabilities 435,739  
Deferred underwriting commissions $ 8,050,000