Kimbell Royalty Partners, LP (NYSE:KRP) Q4 2023 Earnings Call Transcript

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Aaron Bilkoski : Hi, good morning, guys. I know there’s been a lot of focus on this call around M&A. But I would say the one thing that I like about your business is that it can replenish itself organically? And my question is sort of on that front. I noticed that your Eagle Ford activity picked up quite a lot in Q4. I think it was up 5 or 6 rigs quarter-over-quarter. Do you have any color on what’s driving that?

Davis Ravnaas: That is an excellent question, Aaron. Good morning, by the way.

Matthew Daly : Yeah. Aaron, this is Matt Daly. I noticed that, too. The operators in the Eagle Ford is interesting. There’s only one public operator at EOG, the rest of the folks in the Eagle Ford are all private operators. So we had quarter-over-quarter, we had six rigs drop off the Permian but six rigs added to the Eagle Ford. So that was nice to see that sort of pop in the Eagle Ford drilling activity, but it’s mainly private operators there.

Aaron Bilkoski : Perfect I guess that’s the benefit of the diversified royalty business.

Davis Ravnaas: Thank you, Aaron.

Operator: This concludes our question-and-answer session. I would now like to turn the floor back over to management for closing remarks.

Bob Ravnaas : Thank you all for joining us this morning, and we look forward to speaking with you again next quarter. This completes today’s call.

Operator: Ladies and gentlemen, thank you for your participation. This does conclude today’s teleconference. You may disconnect your lines, and have a wonderful day.

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