Kimbell Royalty Partners, LP (the Partnership), a leading owner of oil and natural gas mineral and royalty interests across twenty states, today announced the pricing of its initial public offering of 5,000,000 common units representing limited partner interests at a price of $18.00 per common unit. The common units will begin trading on the New York Stock Exchange under the ticker symbol "KRP" on February 3, 2017. The offering is expected to close on February 8, 2017, subject to customary closing conditions.

The Partnership has granted the underwriters of the offering a 30-day option to purchase up to an additional 750,000 common units. At the conclusion of the offering, the public will own an approximate 30.6% limited partner interest in the Partnership (or an approximate 35.2% limited partner interest if the underwriters exercise in full their option to purchase additional common units). Certain parties who are contributing oil and natural gas mineral and royalty interests to the Partnership at the closing of the offering will collectively own the remaining limited partner interests in the Partnership. The Partnership intends to use all of the net proceeds from the offering to make a cash distribution to the parties who are contributing oil and natural gas mineral and royalty interests to the Partnership.

Kimbell Royalty Partners, LP

Kimbell Royalty Partners, LP (KRP) is an oil and gas mineral and royalty variable rate master limited partnership based in Fort Worth, Texas. KRP is managed by its general partner, Kimbell Royalty GP, LLC, and owns mineral and royalty interests in approximately 4.5 million gross acres in twenty states and in nearly every major onshore basin in the continental United States, including ownership in more than 48,000 gross producing wells with over 29,000 wells in the Permian Basin.