XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Loss on commodity derivative instruments, net $ (1,116,722) $ (17,566,617) $ (40,194,369) $ (45,919,531)
Total revenues 72,922,972 31,794,314 179,388,149 79,938,194
Costs and expenses        
Production and ad valorem taxes 4,518,580 3,104,502 13,542,285 8,100,733
Depreciation and depletion expense 11,326,791 8,828,517 33,359,915 25,076,429
Impairment of oil and natural gas properties 0 0 0 0
Marketing and other deductions 3,068,244 2,996,434 10,639,314 8,842,942
General and administrative expense 7,482,814 6,766,628 21,938,249 20,247,843
Total costs and expenses 26,924,063 21,696,081 81,337,356 62,267,947
Operating income 45,998,909 10,098,233 98,050,793 17,670,247
Other income (expense)        
Equity income in affiliate 23,727 261,336 3,658,460 719,958
Interest expense (3,667,534) (2,495,465) (9,868,679) (6,692,263)
Other income (expense) 76,873 (397,608) 4,043,530 16,347
Net income before income taxes 43,620,231 7,466,496 97,396,881 11,714,289
Income tax (benefit) expense (224,883)   1,850,357  
Net income 43,845,114 7,466,496 95,546,524 11,714,289
Distribution and accretion on Series A preferred units   (4,849,996)   (8,005,932)
Net income and distributions and accretion on Series A preferred units attributable to noncontrolling interests in OpCo (5,493,117) (761,311) (11,975,886) (1,024,655)
Distribution on Class B units (8,211) (17,610) (34,032) (59,170)
Net income attributable to common units of Kimbell Royalty Partners, LP $ 38,343,786 $ 1,837,579 $ 83,536,606 $ 2,624,532
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) $ 0.69 $ 0.04 $ 1.26 $ 0.07
Net loss per unit attributable to common units (diluted) (in dollar per share) $ 0.59 $ 0.03 $ 1.00 $ 0.04
Weighted average number of common units outstanding        
Weighted average number of common units outstanding Basic (in units) 55,434,641 41,106,157 52,302,235 39,383,172
Weighted average number of common units outstanding Diluted (in units) 65,543,412 60,511,314 65,397,463 60,349,535
Consolidated variable interest entities        
Costs and expenses        
General and administrative expense $ 527,634   $ 1,857,593  
Other income (expense)        
Interest earned on marketable securities in trust account 1,188,256   1,512,777  
Oil, natural gas and NGL revenues        
Revenue 73,867,992 $ 47,638,423 217,543,364 $ 122,844,684
Lease bonus and other income        
Revenue $ 171,702 $ 1,722,508 $ 2,039,154 $ 3,013,041