FORT WORTH, Texas, April 3, 2018 /PRNewswire/ -- Kimbell
Royalty GP, LLC, the general partner of Kimbell Royalty Partners,
LP (NYSE: KRP) ("Kimbell Royalty Partners"), announced today the
appointment of Dallas-based energy
executive Erik B. Daugbjerg as an
independent director.
"We are very excited to welcome Erik to our Board of Directors,"
said Robert Ravnaas, Chairman and
Chief Executive Officer of Kimbell Royalty GP, LLC. "He brings more
than twenty years of experience in upstream and midstream energy
companies, including founding roles at two successful Permian-based
oil and gas operators.
"In his role as a co-founder and senior executive of RSP
Permian, Inc. – which is one of the most active and successful
exploration and production companies working in the Permian Basin
today – he has helped manage more than $4
billion of acquisitions and nearly $6
billion of financings since the inception of the
company.
"As we work to grow Kimbell Royalty Partners over the long-term,
we believe that Erik's experience in the upstream sector,
transactional expertise and broad contacts in the financial
community and energy sector will prove extremely valuable to the
partnership," Mr. Ravnaas said.
Mr. Daugbjerg currently serves as Executive Vice President of
Land and Business Development at RSP Permian, Inc. (NYSE: RSPP),
which was founded in 2010 and became a publicly-traded company in
2014. He also co-founded Pecos Energy Partners LP in 2007, a
Permian-based oil and gas producer, and continues to serve as a
managing member of its general partner.
Mr. Daugbjerg also served in senior roles in upstream and
midstream energy companies with operations in Texas and New
Mexico from 1992 to 2006. He holds a Bachelor of Business
Administration Degree from Southern Methodist
University and is active with several Texas energy industry organizations.
About Kimbell Royalty Partners, LP
Kimbell Royalty Partners, LP (NYSE: KRP) is an oil and gas
mineral and royalty variable rate master limited partnership based
in Fort Worth, Texas. Kimbell
Royalty Partners is managed by its general partner, Kimbell Royalty
GP, LLC, and owns mineral and royalty interests in approximately
5.7 million gross acres in twenty states and in nearly every major
onshore basin in the continental United
States, including ownership in more than 50,000 gross
producing wells with over 30,000 wells in the Permian Basin. To
learn more, visit http://www.kimbellrp.com.
Forward-Looking Statements
This news release includes forward-looking statements. These
forward-looking statements involve risks and uncertainties,
including risks relating Kimbell Royalty Partners' business and
prospects for growth and securities markets generally. Except as
required by law, Kimbell Royalty Partners undertakes no obligation
and does not intend to update these forward-looking statements to
reflect events or circumstances occurring after this news release.
When considering these forward-looking statements, you should keep
in mind the risk factors and other cautionary statements in
Kimbell's filings with the Securities and Exchange Commission
("SEC"). These include risks inherent in oil and natural gas
drilling and production activities, including risks with respect to
continued low or further declining prices for oil and natural gas
that could result in downward revisions to the value of proved
reserves or otherwise cause Kimbell to delay or suspend planned
drilling and completion operations or reduce production levels,
which would adversely impact cash flow; risks relating to the
availability of capital to fund drilling operations that can be
adversely affected by adverse drilling results, production declines
and declines in oil and natural gas prices; risks regarding
Kimbell's ability to meet financial covenants under its credit
agreements or its ability to obtain amendments or waivers to effect
such compliance; risks relating to Kimbell's hedging activities;
risks of fire, explosion, blowouts, pipe failure, casing collapse,
unusual or unexpected formation pressures, environmental hazards,
and other operating and production risks, which may temporarily or
permanently reduce production or cause initial production or test
results to not be indicative of future well performance or delay
the timing of sales or completion of drilling operations; risks
relating to delays in receipt of drilling permits; risks relating
to unexpected adverse developments in the status of properties;
risks relating to borrowing base redeterminations by Kimbell's
lenders; risks relating to the absence or delay in receipt of
government approvals or third-party consents; risks relating to
Kimbell's ability to realize the anticipated benefits from acquired
assets; and other risks described in Kimbell's Annual Report on
Form 10-K and other filings with the SEC, available at the SEC's
website at www.sec.gov. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this news release.
Contact:
Rick Black
Dennard Lascar Investor
Relations
krp@dennardlascar.com
(713) 529-6600
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SOURCE Kimbell Royalty Partners, LP