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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 16,554,722 $ 7,052,414
Oil, natural gas and NGL receivables 46,387,472 35,147,145
Derivative assets   166,307
Accounts receivable and other current assets 2,595,951 3,051,593
Total current assets 65,538,145 45,417,459
Property and equipment, net 1,036,281 1,888,247
Investment in affiliate (equity method) 1,161,255 4,738,822
Oil and natural gas properties    
Oil and natural gas properties, using full cost method of accounting ($48,689,818 and $153,284,173 excluded from depletion at September 30, 2022 and December 31, 2021, respectively) 1,204,839,460 1,204,395,484
Less: accumulated depreciation, depletion and impairment (696,086,227) (663,603,142)
Total oil and natural gas properties, net 508,753,233 540,792,342
Right-of-use assets, net 2,607,158 2,844,997
Derivative assets   1,590,501
Loan origination costs, net 3,267,908 4,214,484
Investments held in trust 238,400,000  
Total assets 821,511,790 601,486,852
Current liabilities    
Accounts payable 874,180 811,019
Other current liabilities 6,418,999 3,319,495
Derivative liabilities 23,477,833 24,190,678
Total current liabilities 30,771,012 28,321,192
Operating lease liabilities, excluding current portion 2,319,960 2,561,274
Derivative liabilities 1,875,710 4,190,776
Long-term debt 203,915,911 217,115,911
Other liabilities 354,167 447,918
Total liabilities 247,767,367 252,637,071
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 September 30, 2022 and December 31, 2021, respectively) 485,063,162 328,717,841
Class B units (8,211,579 and 17,611,579 units issued and outstanding as of September 30, 2022 and December 31, 2021, respectively) 410,579 880,579
Total Kimbell Royalty Partners, LP unitholders' equity 485,473,741 329,598,420
Noncontrolling (deficit) interest in OpCo (148,629,318) 19,251,361
Total equity 336,844,423 348,849,781
Total liabilities, mezzanine equity and unitholders' equity 821,511,790 $ 601,486,852
Consolidated variable interest entities    
Oil and natural gas properties    
Cash 551,979  
Investments held in trust 238,412,777  
Prepaid expenses 183,054  
Current liabilities    
Other current liabilities 480,607  
Deferred underwriting commissions $ 8,050,000