Kimbell expands Permian footprint with $147-million royalty acquisition

(WO) — Kimbell Royalty Partners has agreed to acquire Permian basin mineral and royalty interests from Mesa Royalties in a transaction valued at approximately $147 million, expanding the company’s exposure across the Delaware and Midland basins.

The acquisition includes approximately 711 net royalty acres across multiple stacked-pay areas in the Permian basin, including assets spanning 15 counties and more than 400 drill spacing units.

According to Kimbell, the acquired portfolio includes interests tied to more than 2,300 producing wells, approximately 364 drilled but uncompleted wells and permits, and more than 600 undeveloped drilling locations.

The assets are expected to produce approximately 1,390 boed over the next 12 months, including roughly 754 bopd of oil.

Kimbell said the transaction is expected to close during second-quarter 2026, subject to customary closing conditions, with an effective date of June 1.

The deal will be funded through a combination of cash and newly issued operating company units, with approximately 70% of the consideration paid in equity and the remainder in cash.

The company said the acquisition strengthens its oil-weighted production mix and expands exposure to several major Permian operators, including ConocoPhillips, Occidental Petroleum, APA Corporation and Permian Resources.

Following completion of the acquisition, Kimbell said it expects to hold interests tied to more than 135,000 gross wells and 93 active rigs across its portfolio, further expanding its position as one of the largest consolidators of U.S. oil and gas mineral and royalty assets.