Kimbell Reports Q1 Revenue of $65.5M, Below Consensus
Reports Q1 revenue $65.5M, consensus $89.78M. Q2 run-rate daily production was 25,522 Boe per day. CEO Robert Ravnaas commented, "We are pleased to report another strong quarter with robust drilling activity across our acreage. Kimbell's production exceeded the midpoint of guidance, showing once again the resilience of our high quality, diversified and low decline production base. Kimbell's active rig count remains robust with 85 rigs drilling across our acreage, led by the Permian Basin, and our market share of U.S. land rigs remained at 16%...We are pleased to declare the Q1 2026 distribution of 41c per common unit, reflecting a 11.2% annualized tax advantaged yield based on Kimbell's closing price on May 6...We believe higher oil prices will likely result in a modest increase in activity across oil-weighted basins as we progress through 2026 as many operators will likely move up the completion of DUCs to take advantage of higher prices and gradually add additional rigs. We remain extremely excited about the U.S. oil and natural gas royalty industry, our role as a leading consolidator and the prospects for Kimbell to generate long-term unitholder value for years to come."
