Kimbell Royalty Partners Launches $149 Million Offering
Deal News | Jan 10, 2025 | White & Case
Global law firm White & Case LLP has advised Kimbell Royalty Partners, LP, a prominent owner of oil and gas mineral and royalty interests in the U.S., in a public offering of 10 million common units priced at US$14.90 each, raising gross proceeds of approximately US$149 million. The offering allows underwriters the option to purchase an additional 1.5 million units. The net proceeds are earmarked for repaying Kimbell's outstanding borrowings under its revolving credit facility. Kimbell plans to use the revolver to fund future acquisitions of mineral and royalty interests in the Midland Basin, Texas. The advisory team from White & Case was led by Jason Rocha.
Sectors
- Oil and Gas
- Legal Services
- Financial Services
Geography
- United States – Kimbell Royalty Partners, the subject of the article, operates within the United States, specifically with interests in the Midland Basin, Texas.
Industry
- Oil and Gas – The article involves Kimbell Royalty Partners, which owns oil and gas mineral and royalty interests.
- Legal Services – The advisory role in structuring the offering was played by White & Case LLP, a law firm.
- Financial Services – The execution of the public offering involves financial structuring and underwriting, which are key aspects of financial services.
Financials
- US$149 million – The total gross proceeds from Kimbell's public offering of common units.
- US$14.90 – Price per common unit in Kimbell's public offering.
- 1.5 million units – Additional units underwriters have the option to purchase at the public offering price.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kimbell Royalty Partners, LP | Target Company | Company | A leading owner of oil and gas mineral and royalty interests in the United States. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising Kimbell Royalty Partners on their public offering. |
| Jason Rocha | Lead Partner | Person | Partner at White & Case LLP leading the advisory team for Kimbell. |
| Steven Amrein | Capital Markets Associate | Person | Associate at White & Case LLP assisting on capital markets. |
| Gabriele Josephs | M&A Associate | Person | Associate at White & Case LLP assisting on M&A aspects. |
| Chad McCormick | Tax Partner | Person | Tax Partner at White & Case LLP advising on tax matters of the offering. |
| Neil Clausen | Tax Partner | Person | Tax Partner at White & Case LLP advising on tax aspects. |
| Thor Fielland | Tax Associate | Person | Tax Associate at White & Case LLP assisting on the tax aspects of the offering. |
| Brandon Wong | Law Clerk | Person | Law Clerk at White & Case LLP who assisted on the matter. |