Each one in plain English, with the numbers worked through for a shareholder.
26 Dec 2019substantial holder notice● Neutral
Buckhorn Resources GP, LLC, Buckhorn Minerals I GP, LP, Buckhorn Minerals I, LP, Buckhorn Minerals II, LP, Buckhorn Minerals III, LP, Buckhorn Minerals III-QP, LP, Buckhorn Minerals IV, LP, Bret A. Zorich disclosed a new substantial Kimbell Royalty Partners, LP shareholding (9.20% of votes).
Kimbell closed the Buckhorn acquisition, issuing fewer units than originally agreed (2,169,348 vs. the signed 2,207,880) but at a higher valuation (about $36.3 million vs. $31.8 million) after price adjustments.
Kimbell expanded its revolving credit facility to $225 million, adding Independent Bank as a new $20 million lender, and had its borrowing base raised to $300 million at the scheduled redetermination -- more capacity to keep funding acquisitions.
Rivercrest Royalties Holdings II, LLC, Yorktown Energy Partners X, L.P, Yorktown X Company LP, Yorktown X Associates LLC reported a Kimbell Royalty Partners, LP shareholding of 940,461 shares (4.10% of votes) in a periodic institutional filing.
PEP I Holdings, LLC, PEP II Holdings, LLC, PEP III Holdings, LLC, EnCap Energy Capital Fund VI, L.P, EnCap VI-B Acquisitions, L.P, EnCap Energy Capital Fund VII, L.P, EnCap Energy Capital Fund VIII, L.P, EnCap Partners GP, LLC disclosed a new substantial Kimbell Royalty Partners, LP shareholding (32.53% of votes).
26 Mar 2019asset acquisition disposition● NeutralMajor
Kimbell closed the Phillips (PEP I/II/III) acquisition and consolidated its various registration rights agreements -- covering the Haymaker/KKR, Apollo, Rivercrest, Kimbell Art Foundation and Cupola unitholders -- into a single amended and restated agreement, formalizing the growing roster of insider and PE-backed owners (Apollo affiliates appear here as an existing party, predating their larger 2023 preferred investment).
Rivercrest Royalties Holdings II, LLC, Yorktown Energy Partners X, L.P, Yorktown X Company LP, Yorktown X Associates LLC reported a Kimbell Royalty Partners, LP shareholding of 1,241,679 shares (6.40% of votes) in a periodic institutional filing.
12 Feb 2019capital raising announcement▲ GoodMajor
Kimbell agreed to acquire mineral and royalty interests from three EnCap-affiliated Phillips entities (PEP I/II/III Holdings) for 9.4 million OpCo/Class B units -- introducing EnCap Energy Capital as a major future unitholder.
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a Kimbell Royalty Partners, LP shareholding of 1,400,864 shares (8.08% of votes) in a periodic institutional filing.
Ben J. Fortson, Kimbell Art Foundation reported a Kimbell Royalty Partners, LP shareholding of 5,267,321 shares (22.70% of votes) in a periodic institutional filing.
Rivercrest Capital Partners LP, Rivercrest Capital Management LLC, Rivercrest Holding LP, Rivercrest Capital GP LLC disclosed a new substantial Kimbell Royalty Partners, LP shareholding (13.50% of votes).
Rivercrest Royalties Holdings II, LLC, Yorktown Energy Partners X, L.P, Yorktown X Company LP, Yorktown X Associates LLC disclosed a new substantial Kimbell Royalty Partners, LP shareholding (11.20% of votes).
Kimbell closed the Rivercrest/Foundation/Cupola dropdown and signed a registration rights agreement letting those insider sellers eventually resell the units they received.
Ben J. Fortson, Kimbell Art Foundation reported a Kimbell Royalty Partners, LP shareholding of 3,044,768 shares (15.00% of votes) in a periodic institutional filing.
23 Nov 2018capital raising announcement● NeutralMajor
Kimbell agreed to a related-party 'dropdown' acquisition of royalty interests from Rivercrest Capital Partners, Cupola Royalty Direct and its own founding sponsor Kimbell Art Foundation, paying 6.5 million OpCo/Class B units -- the first of what became a recurring pattern of buying more assets from its own insiders and their affiliates.
Ben J. Fortson, Kimbell Art Foundation reported a Kimbell Royalty Partners, LP shareholding of 3,044,768 shares (15.30% of votes) in a periodic institutional filing.