XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Loss on commodity derivative instruments, net $ (7,094,127) $ (14,217,186) $ (39,077,647) $ (28,352,914)
Total revenues 72,710,664 25,724,790 106,465,177 48,143,880
Costs and expenses        
Production and ad valorem taxes 5,002,794 2,564,401 9,023,705 4,996,231
Depreciation and depletion expense 11,273,960 8,336,764 22,033,124 16,247,912
Impairment of oil and natural gas properties 0 0 0 0
Marketing and other deductions 4,063,004 2,551,222 7,571,070 5,846,508
General and administrative expense 7,866,176 6,684,830 14,455,435 13,481,215
Total costs and expenses 28,796,434 20,137,217 54,413,293 40,571,866
Operating income 43,914,230 5,587,573 52,051,884 7,572,014
Other income (expense)        
Equity income in affiliate 3,385,325 273,542 3,634,733 458,622
Interest expense (3,323,290) (2,101,700) (6,201,145) (4,196,798)
Other income (expense) 898,207 (48,816) 3,966,657 413,955
Net income before income taxes 45,097,607 3,710,599 53,776,650 4,247,793
Provision for income taxes 1,803,441   2,075,240  
Net income 43,294,166 3,710,599 51,701,410 4,247,793
Distribution and accretion on Series A preferred units   (1,577,968)   (3,155,936)
Net income and distributions and accretion on Series A preferred units attributable to noncontrolling interests in OpCo (5,424,092) (620,523) (6,482,769) (263,344)
Distribution on Class B units (8,211) (20,780) (25,821) (41,560)
Net income attributable to common units of Kimbell Royalty Partners, LP $ 37,861,863 $ 1,491,328 $ 45,192,820 $ 786,953
Net income per unit attributable to common units of Kimbell Royalty Partners, LP        
Net loss per unit attributable to common units (basic) (in dollar per share) $ 0.66 $ 0.04 $ 0.54 $ 0.02
Net loss per unit attributable to common units (diluted) (in dollar per share) $ 0.55 $ 0.04 $ 0.42 $ 0.02
Weighted average number of common units outstanding        
Weighted average number of common units outstanding Basic (in units) 55,424,930 39,312,388 50,710,073 38,507,401
Weighted average number of common units outstanding Diluted (in units) 65,543,669 41,124,489 65,323,279 40,196,053
Consolidated variable interest entities        
Costs and expenses        
General and administrative expense $ 590,500   $ 1,329,959  
Other income (expense)        
Interest earned on marketable securities in trust account 223,135   324,521  
Oil, natural gas and NGL revenues        
Revenue 78,591,469 $ 38,837,751 143,675,372 $ 75,206,261
Lease bonus and other income        
Revenue $ 1,213,322 $ 1,104,225 $ 1,867,452 $ 1,290,533