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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Gain (loss) on commodity derivative instruments, net $ 9,339 $ (1,046) $ 3,286 $ (6,750)
Total revenues 86,548 76,573 170,757 158,807
Costs and expenses        
Production and ad valorem taxes 5,715 5,577 11,090 12,109
Depreciation and depletion expense 30,458 33,024 61,576 71,191
Impairment of oil and natural gas properties 0   0 5,963
Marketing and other deductions 3,016 3,828 7,518 8,391
General and administrative expense 9,573 10,252 19,210 19,700
Total costs and expenses 48,762 52,681 99,394 117,354
Operating income 37,786 23,892 71,363 41,453
Other expense        
Interest expense (8,947) (6,946) (15,569) (14,247)
Other expense     (12)  
Net income before income taxes 28,839 16,946 55,782 27,206
Income tax expense 2,167 1,759 3,257 2,682
Net income 26,672 15,187 52,525 24,524
Distribution and accretion on Series A preferred units (24,337) (5,243) (29,540) (10,499)
Net income and distributions and accretion on Series A preferred units attributable to non-controlling interests (314) (1,513) (3,088) (2,404)
Distribution to Class B unitholders (14) (21) (28) (42)
Net income attributable to common units of Kimbell Royalty Partners, LP $ 2,007 $ 8,410 $ 19,869 $ 11,579
Net income per unit attributable to common units of Kimbell Royalty Partners, LP        
Net income per unit attributable to common units Kimbell Royalty Partners, LP (basic) (in dollar per share) $ 0.02 $ 0.11 $ 0.22 $ 0.16
Net income per unit attributable to common units Kimbell Royalty Partners, LP (diluted) (in dollar per share) $ 0.02 $ 0.11 $ 0.22 $ 0.16
Weighted average number of common units outstanding        
Weighted average number of common units outstanding Basic (in units) 91,170 74,835 90,430 73,473
Weighted average number of common units outstanding Diluted (in units) 122,924 116,594 125,277 116,396
Oil, natural gas and NGL revenues        
Revenue $ 74,695 $ 76,959 $ 164,646 $ 164,458
Lease bonus and other income        
Revenue $ 2,514 $ 660 $ 2,825 $ 1,099