10-Q Filing

KIMBELL ROYALTY PARTNERS, LP CIK: 1657788 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-006584`
Period End Date	20170630
Filing Date	20170814
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	krp-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 19 Income Statement 30 Cash Flow Statement 27 Stockholders Equity 19

Balance Sheet 19 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.83M	USD	Point-in-time
Oil, natural gas and NGL receivables	`OilAndGasBillingReceivables`	$4.96M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$193.61K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.98M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$209.82K	USD	Point-in-time
Oil and natural gas properties (full cost method)	`OilAndGasPropertyFullCostMethodGross`	$285.04M	USD	Point-in-time
Less: accumulated depreciation, depletion, accretion and impairment	`OilAndGasPropertyFullCostMethodDepletion`	$6.60M	USD	Point-in-time
Total oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$278.44M	USD	Point-in-time
Loan origination costs, net	`DeferredFinanceCostsNoncurrentNet`	$286.46K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$289.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$397.22K	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$968.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.37M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$18.27M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$19.63M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Partners' capital	`PartnersCapital`	$270.29M	USD	Point-in-time
Partners' capital	`PartnersCapital`	$8.09M	USD	Point-in-time
TOTAL LIABILITIES AND PARTNERS CAPITAL	`LiabilitiesAndPartnersCapital`	$289.92M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Oil, natural gas and NGL revenues	`OilAndGasRevenue`	$12.31M	USD	2 Qtrs
Oil, natural gas and NGL revenues	`OilAndGasRevenue`	$7.75M	USD	1 Quarter
Production and ad valorem taxes	`ProductionTaxExpense`	$617.68K	USD	1 Quarter
Production and ad valorem taxes	`ProductionTaxExpense`	$823.79K	USD	2 Qtrs
Depreciation, depletion and accretion expenses	`DepreciationDepletionAndAmortization`	$4.13M	USD	1 Quarter
Depreciation, depletion and accretion expenses	`DepreciationDepletionAndAmortization`	$6.67M	USD	2 Qtrs
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	2 Qtrs
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Marketing and other deductions	`SellingAndMarketingExpense`	$386.68K	USD	1 Quarter
Marketing and other deductions	`SellingAndMarketingExpense`	$643.81K	USD	2 Qtrs
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.39M	USD	2 Qtrs
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.18M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$7.32M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$11.53M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$434.63K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$778.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$243.13K	USD	2 Qtrs
Interest expense	`InterestExpense`	$182.97K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$534.87K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$251.65K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$534.87K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$251.65K	USD	1 Quarter
Net income (loss) attributable to common units per unit (basic)	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$0.03	USD	2 Qtrs
Net income (loss) attributable to common units per unit (basic)	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$0.02	USD	1 Quarter
Net income (loss) attributable to common units per unit (diluted)	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$0.03	USD	2 Qtrs
Net income (loss) attributable to common units per unit (diluted)	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$0.02	USD	1 Quarter
Weighted average number of common units outstanding Basic (in units)	`WeightedAverageLimitedPartnershipUnitsOutstanding`	16.33M	shares	1 Quarter
Weighted average number of common units outstanding Basic (in units)	`WeightedAverageLimitedPartnershipUnitsOutstanding`	16.33M	shares	2 Qtrs
Weighted average number of common units outstanding Diluted (in units)	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	16.42M	shares	1 Quarter
Weighted average number of common units outstanding Diluted (in units)	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	16.39M	shares	2 Qtrs

Cash Flow Statement 27 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$534.87K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$251.65K	USD	1 Quarter
Depreciation, depletion and accretion expenses	`DepreciationDepletionAndAmortization`	$4.13M	USD	1 Quarter
Depreciation, depletion and accretion expenses	`DepreciationDepletionAndAmortization`	$6.67M	USD	2 Qtrs
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	2 Qtrs
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Amortization of loan origination costs	`AmortizationOfFinancingCosts`	$26.04K	USD	2 Qtrs
Unit-based compensation	`ShareBasedCompensation`	$135.69K	USD	2 Qtrs
Oil, natural gas and NGL receivables	`IncreaseDecreaseInOilAndGasBillingReceivables`	$-59.02K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$193.61K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$380.65K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$968.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.58M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.21K	USD	2 Qtrs
Purchase of oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$113.18M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-113.20M	USD	2 Qtrs
Proceeds from initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$96.25M	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$3.76M	USD	2 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$18.27M	USD	2 Qtrs
Payment of loan origination costs	`PaymentsOfLoanCosts`	$312.50K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$110.45M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.83M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.83M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.83M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$109.54K	USD	2 Qtrs
Capital expenditures and consideration payable included in accounts payable and other liabilities	`CapitalExpendituresIncurredButNotYetPaidNet`	$16.57K	USD	2 Qtrs
Capital expenditures through issuance of common units	`CapitalExpendituresIncurredIssuanceOfCommonUnits`	$176.40M	USD	2 Qtrs

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Partners' capital, beginning balance	`PartnersCapital`	$270.29M	USD	Point-in-time
Partners' capital, beginning balance	`PartnersCapital`	$8.09M	USD	Point-in-time
Partners' capital, beginning balance (in units)	`LimitedPartnersCapitalAccountUnitsOutstanding`	0.00	shares	Point-in-time
Partners' capital, beginning balance (in units)	`LimitedPartnersCapitalAccountUnitsOutstanding`	16.50M	shares	Point-in-time
Common units issued to Predecessor in exchange for oil and natural gas properties (in units)	`UnitsIssuedToPredecessorForOilAndNaturalGasProperties`	1.19M	shares	2 Qtrs
Common units issued to contributors in exchange for oil and natural gas properties	`UnitsIssuedValueToContributorsForOilAndNaturalGasProperties`	$169.03M	USD	2 Qtrs
Common units issued to contributors in exchange for oil and natural gas properties (in units)	`UnitsIssuedToContributorsForOilAndNaturalGasProperties`	9.39M	shares	2 Qtrs
Common units sold to public	`StockIssuedDuringPeriodValueNewIssues`	$103.50M	USD	2 Qtrs
Common units sold to public (in units)	`StockIssuedDuringPeriodSharesNewIssues`	5.75M	shares	2 Qtrs
Underwriting discount and structuring fee incurred at initial public offering	`UnderwriterAndStructuringFeeDiscountInitialPublicOffering`	$7.25M	USD	2 Qtrs
Distributions to unitholders	`PartnersCapitalAccountDistributions`	$3.76M	USD	2 Qtrs
Unit-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$135.69K	USD	2 Qtrs
Unit-based compensation (in units)	`PartnersCapitalAccountUnitsUnitbasedCompensation`	163,324.00	shares	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$534.87K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$251.65K	USD	1 Quarter
Partners' capital, ending balance	`PartnersCapital`	$270.29M	USD	Point-in-time
Partners' capital, ending balance	`PartnersCapital`	$8.09M	USD	Point-in-time
Partners' capital, ending balance (in units)	`LimitedPartnersCapitalAccountUnitsOutstanding`	0.00	shares	Point-in-time
Partners' capital, ending balance (in units)	`LimitedPartnersCapitalAccountUnitsOutstanding`	16.50M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.