Fort Worth-based Kimbell Royalty Partners announced on Wednesday that it had acquired mineral and royalty interests held by a private seller for $455 million, according to a press release.
Assets acquired are concentrated in the Permian Basin (64% of reserve value) and Mid-Continent (36% of reserve value).
Kimbell is entitled to all cash flow from production attributable to the acquired assets since June 1.
In 1999, Robert Ravnaas and Brett Taylor founded the Fort Worth Royalty Partners group, which was anchored by the Kimbell Art Foundation and Ben Fortson. The two led the acquisition and management of more than $1 billion of mineral and royalty assets from 1998-2015, with an initial public offering of Kimbell Royalty Partners in 2017.
Today, it owns oil and gas mineral and royalty interests in more than 17 million gross acres in 28 states.
The company trades on the New York Stock Exchange under the ticket symbol KRP.