10-Q Filing

KIMBELL ROYALTY PARTNERS, LP CIK: 1657788 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-006969`
Period End Date	20180630
Filing Date	20180810
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	krp-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 57 Cash Flow Statement 54 Stockholders Equity 15

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.63M	USD	Point-in-time
Oil, natural gas and NGL receivables	`OilAndGasBillingReceivables`	$6.60M	USD	Point-in-time
Oil, natural gas and NGL receivables	`OilAndGasBillingReceivables`	$6.79M	USD	Point-in-time
Accounts receivable and other current assets	`AccountsReceivableNetCurrentAndOtherAssetsCurrent`	$226.64K	USD	Point-in-time
Accounts receivable and other current assets	`AccountsReceivableNetCurrentAndOtherAssetsCurrent`	$236.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$107.89K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$165.23K	USD	Point-in-time
Oil and natural gas properties, using full cost method of accounting	`OilAndGasPropertyFullCostMethodGross`	$287.05M	USD	Point-in-time
Oil and natural gas properties, using full cost method of accounting	`OilAndGasPropertyFullCostMethodGross`	$297.61M	USD	Point-in-time
Less: accumulated depreciation, depletion, accretion and impairment	`OilAndGasPropertyFullCostMethodDepletion`	$77.95M	USD	Point-in-time
Less: accumulated depreciation, depletion, accretion and impairment	`OilAndGasPropertyFullCostMethodDepletion`	$15.39M	USD	Point-in-time
Total oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$209.10M	USD	Point-in-time
Total oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$282.22M	USD	Point-in-time
Deposits on oil and natural gas properties	`OilAndNaturalGasPropertyDeposits`	$23.53M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.19M	USD	Point-in-time
Loan origination costs, net	`DeferredFinanceCostsNoncurrentNet`	$223.96K	USD	Point-in-time
Loan origination costs, net	`DeferredFinanceCostsNoncurrentNet`	$255.21K	USD	Point-in-time
Total assets	`Assets`	$249.32M	USD	Point-in-time
Total assets	`Assets`	$295.29M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$316.49K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.24M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$1.75M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$1.23M	USD	Point-in-time
Commodity derivative liabilities	`DerivativeLiabilitiesCurrent`	$400.80K	USD	Point-in-time
Commodity derivative liabilities	`DerivativeLiabilitiesCurrent`	$183.96K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.25M	USD	Point-in-time
Commodity derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$599.56K	USD	Point-in-time
Commodity derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$134.87K	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$42.97M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$30.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$50.44M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Partners' capital	`PartnersCapital`	$198.88M	USD	Point-in-time
Partners' capital	`PartnersCapital`	$262.07M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$295.29M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$249.32M	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Loss on commodity derivative instruments	`UnrealizedGainLossOnCommodityContracts`	$-538.39K	USD	1 Quarter
Loss on commodity derivative instruments	`UnrealizedGainLossOnCommodityContracts`	$-823.35K	USD	2 Qtrs
Total revenues	`Revenues`	$10.71M	USD	1 Quarter
Total revenues	`Revenues`	$7.75M	USD	1 Quarter
Total revenues	`Revenues`	$12.31M	USD	2 Qtrs
Total revenues	`Revenues`	$21.60M	USD	2 Qtrs
Production and ad valorem taxes	`ProductionTaxExpense`	$823.79K	USD	2 Qtrs
Production and ad valorem taxes	`ProductionTaxExpense`	$1.62M	USD	2 Qtrs
Production and ad valorem taxes	`ProductionTaxExpense`	$805.40K	USD	1 Quarter
Production and ad valorem taxes	`ProductionTaxExpense`	$617.68K	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
Depreciation, depletion and accretion expenses	`DepreciationDepletionAndAmortization`	$7.89M	USD	2 Qtrs
Depreciation, depletion and accretion expenses	`DepreciationDepletionAndAmortization`	$3.43M	USD	1 Quarter
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	$54.75M	USD	2 Qtrs
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	2 Qtrs
Marketing and other deductions	`SellingAndMarketingExpense`	$643.81K	USD	2 Qtrs
Marketing and other deductions	`SellingAndMarketingExpense`	$1.18M	USD	2 Qtrs
Marketing and other deductions	`SellingAndMarketingExpense`	$386.68K	USD	1 Quarter
Marketing and other deductions	`SellingAndMarketingExpense`	$609.03K	USD	1 Quarter
General and administrative expense	`SellingGeneralAndAdministrativeExpense`	$6.77M	USD	2 Qtrs
General and administrative expense	`SellingGeneralAndAdministrativeExpense`	$3.39M	USD	2 Qtrs
General and administrative expense	`SellingGeneralAndAdministrativeExpense`	$4.00M	USD	1 Quarter
General and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.18M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$7.32M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$8.85M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$11.53M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$72.21M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-50.61M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$434.63K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$778.00K	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$1.86M	USD	1 Quarter
Interest expense	`InterestExpense`	$483.56K	USD	1 Quarter
Interest expense	`InterestExpense`	$182.97K	USD	1 Quarter
Interest expense	`InterestExpense`	$833.60K	USD	2 Qtrs
Interest expense	`InterestExpense`	$243.13K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.38M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$251.65K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-51.45M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$534.87K	USD	2 Qtrs
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`	$0.08	USD	1 Quarter
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 (basic)	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$-3.14	USD	2 Qtrs
Net income (loss) attributable to common units per unit (diluted)	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$0.08	USD	1 Quarter
Net income (loss) attributable to common units per unit (diluted)	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$-3.14	USD	2 Qtrs
Net income (loss) attributable to common units per unit (diluted)	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$0.02	USD	1 Quarter
Net income (loss) attributable to common units per unit (diluted)	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$0.03	USD	2 Qtrs
Weighted average number of common units outstanding Basic (in units)	`WeightedAverageLimitedPartnershipUnitsOutstanding`	16.38M	shares	1 Quarter
Weighted average number of common units outstanding Basic (in units)	`WeightedAverageLimitedPartnershipUnitsOutstanding`	16.36M	shares	2 Qtrs
Weighted average number of common units outstanding Basic (in units)	`WeightedAverageLimitedPartnershipUnitsOutstanding`	16.33M	shares	2 Qtrs
Weighted average number of common units outstanding Basic (in units)	`WeightedAverageLimitedPartnershipUnitsOutstanding`	16.33M	shares	1 Quarter
Weighted average number of common units outstanding Diluted (in units)	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	16.36M	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
Weighted average number of common units outstanding Diluted (in units)	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	16.81M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-51.45M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$534.87K	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
Depreciation, depletion and accretion expenses	`DepreciationDepletionAndAmortization`	$7.89M	USD	2 Qtrs
Depreciation, depletion and accretion expenses	`DepreciationDepletionAndAmortization`	$3.43M	USD	1 Quarter
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	$54.75M	USD	2 Qtrs
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	2 Qtrs
Amortization of loan origination costs	`AmortizationOfFinancingCosts`	$26.04K	USD	2 Qtrs
Amortization of loan origination costs	`AmortizationOfFinancingCosts`	$31.25K	USD	2 Qtrs
Unit-based compensation	`ShareBasedCompensation`	$1.39M	USD	2 Qtrs
Unit-based compensation	`ShareBasedCompensation`	$135.69K	USD	2 Qtrs
Loss on commodity derivative instruments	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$-681.53K	USD	2 Qtrs
Oil, natural gas and NGL receivables	`IncreaseDecreaseInOilAndGasBillingReceivables`	$-195.07K	USD	2 Qtrs
Oil, natural gas and NGL receivables	`IncreaseDecreaseInOilAndGasBillingReceivables`	$-59.02K	USD	2 Qtrs
Accounts receivable and other current assets	`IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets`	$193.61K	USD	2 Qtrs
Accounts receivable and other current assets	`IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets`	$-10.03K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.20M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$380.65K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$968.00K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-519.93K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.58M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.19M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.30K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.21K	USD	2 Qtrs
Proceeds from sale of oil and natural gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$10.58M	USD	2 Qtrs
Deposits on oil and natural gas properties	`PaymentsForDepositsOnOilAndNaturalGasProperties`	$21.00M	USD	2 Qtrs
Purchase of oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$17.59K	USD	2 Qtrs
Purchase of oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$113.18M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.48M	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 unitholders/members	`DistributionMadeToLimitedPartnerCashDistributionsPaid`	$3.76M	USD	2 Qtrs
Distributions to unitholders/members	`DistributionMadeToLimitedPartnerCashDistributionsPaid`	$13.13M	USD	2 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$18.27M	USD	2 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$19.00M	USD	2 Qtrs
Repayments on long-term debt	`RepaymentsOfLongTermDebt`	$6.87M	USD	2 Qtrs
Payment of loan origination costs	`PaymentsOfLoanCosts`	$312.50K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.00M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$110.45M	USD	2 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.83M	USD	2 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.71M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.83M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.63M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.33M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.83M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.63M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.33M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$109.54K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$977.49K	USD	2 Qtrs
Capital expenditures and consideration payable included in accounts payable and other liabilities	`CapitalExpendituresIncurredButNotYetPaidNet`	$16.57K	USD	2 Qtrs
Capital expenditures and consideration payable included in accounts payable and other liabilities	`CapitalExpendituresIncurredButNotYetPaidNet`	$3.72M	USD	2 Qtrs
Capital expenditures through issuance of common units	`CapitalExpendituresIncurredIssuanceOfCommonUnits`	$176.40M	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Partners' capital, beginning balance	`PartnersCapital`	$198.88M	USD	Point-in-time
Partners' capital, beginning balance	`PartnersCapital`	$262.07M	USD	Point-in-time
Partners' capital, beginning balance (in units)	`LimitedPartnersCapitalAccountUnitsOutstanding`	16.84M	shares	Point-in-time
Partners' capital, beginning balance (in units)	`LimitedPartnersCapitalAccountUnitsOutstanding`	16.51M	shares	Point-in-time
Distributions to unitholders	`PartnersCapitalAccountDistributions`	$13.13M	USD	2 Qtrs
Restricted units granted, net of forfeitures	`PartnersCapitalRestrictedUnitsGrantedNetOfForfeitures`	329,663.00	shares	2 Qtrs
Unit-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$1.39M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.38M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$251.65K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-51.45M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$534.87K	USD	2 Qtrs
Partners' capital, ending balance	`PartnersCapital`	$198.88M	USD	Point-in-time
Partners' capital, ending balance	`PartnersCapital`	$262.07M	USD	Point-in-time
Partners' capital, ending balance (in units)	`LimitedPartnersCapitalAccountUnitsOutstanding`	16.84M	shares	Point-in-time
Partners' capital, ending balance (in units)	`LimitedPartnersCapitalAccountUnitsOutstanding`	16.51M	shares	Point-in-time

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