KIMBELL'S LARGEST DEAL IN YEARS ADDS PERMIAN ROYALTY INTERESTS

摘要

In its largest deal since 2018,Kimbell Royalty Partners LP agreed on Nov.3 to purchase Permian Basin interests from Austin,Texas-based Hatch Royalty LLC for $290 million in cash and units.Kimbell will pay $ 150 million in cash and about 7.3 million units of Kimbell Royalty Operating LLC valued at $140 million.On Nov.8,the Fort Worth,Texas-based company announced an upsized $ 106.5 million follow-on offering led by Raymond James to help fund the deal.The deal is Kimbell's first since it closed a $57 million multibasin deal last December and the company's largest since it acquired Haymaker Minerals & Royalties LLC and Haymaker Resources LP for about $404 million in cash and stock four years ago.Since 2018,the company has made $900 million in acquisitions.Hatch is backed by Ridgemont Equity Partners.The Hatch assets consist of 889 net royalty acres on 230,000 gross acres located in the Delaware Basin(90%)and Midland Basin(10%),according to a Nov.3 company news release.