Kimbell Royalty Partners, LP (KRP) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 19, 2026

Risk Assessment Details

Potential Dilution: 100.73% of current shares
Recent Dilution: 20.84% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
99M
Potential Supply
99M
Additional shares possible
Splits
None
Past 2 years

Summary

KRP currently has 98.7M outstanding shares. with significant dilution risk as 99.4M authorized shares could dilute existing holders by 100.7%. The company has diluted shareholders by 20.84% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 19, 2026

8-K filing: Kimbell Royalty Partners entered into a purchase agreement to acquire oil and gas mineral interests for $44 million in cash and the issuance of 6,929,000 OpCo Common Units and Class B Units.

99M 99M
May 07, 2026

10-Q filing | 98.7M shares outstanding

99M 99M
Nov 06, 2025

10-Q filing | 93.4M shares outstanding

93M 99M
Aug 07, 2025

10-Q filing | 93.4M shares outstanding

93M 99M
May 08, 2025

10-Q filing | 93.4M shares outstanding

93M 99M
Apr 09, 2025

8-K filing: Kimbell Royalty Partners, LP delivered an irrevocable notice of redemption to the holders of Series A Cumulative Convertible Preferred Units to call for redemption on May 7, 2025, 162,500 Preferred Units, representing 50% of the outstanding Preferred Units. ($182.3M proceeds)

93M 99M
Feb 27, 2025

10-K filing | 92.5M shares outstanding

93M 99M
Jan 08, 2025

8-K filing: Kimbell Royalty Partners, LP entered into an Underwriting Agreement for the offer and sale of 10,000,000 common units at $14.90 per Common Unit, with an option for the Underwriters to purchase an additional 1,150,000 Common Units. ($141.3M proceeds)

81M 99M
Jan 07, 2025

8-K filing: Kimbell Royalty Partners, LP entered into a purchase and sale agreement with Boren Minerals to acquire oil and natural gas mineral and royalty interests, with the option to pay part of the consideration through the issuance of 1,433,915 common units.

81M 99M
Nov 08, 2024

10-Q filing | 81.0M shares outstanding

81M 99M
Aug 01, 2024

10-Q filing | 81.0M shares outstanding

81M 99M
May 02, 2024

10-Q filing | 74.6M shares outstanding

75M 99M
Feb 21, 2024

10-K filing | 73.9M shares outstanding

74M 99M
Nov 02, 2023

10-Q filing | 73.9M shares outstanding

74M 99M
Sep 27, 2023

S-3 filing: Kimbell Royalty Partners, LP is offering 21,566,025 common units by the selling unitholders.

65M 99M
Aug 04, 2023

8-K filing: Kimbell Royalty Partners, LP entered into an Underwriting Agreement for the offer and sale of 7,250,000 common units at $14.00 per unit, with an option for the underwriters to purchase an additional 1,087,500 common units, with the offering expected to close on August 7, 2023. ($95.9M proceeds)

65M 78M
Aug 02, 2023

10-Q filing | 65.5M shares outstanding

66M 78M
Aug 02, 2023

8-K filing: Kimbell Royalty Partners, LP entered into a Series A Preferred Unit Purchase Agreement with certain funds managed by affiliates of Apollo to issue and sell up to 400,000 Series A Cumulative Convertible Preferred Units for a cash purchase price of $1,000 per Preferred Unit, resulting in gross proceeds of up to $400 million. ($400.0M proceeds)

65M 78M
May 31, 2023

S-3 filing: This S-3 filing relates to the offer and resale by the selling unitholders of up to 5,926,520 common units representing limited partner interests in Kimbell Royalty Partners, LP.

65M 78M
May 18, 2023

8-K filing: Kimbell issued 557,302 KRP Common Units and 5,369,218 Opco Units along with an equal number of Class B Units to the Sellers on May 17, 2023, as part of the Acquisition.

65M 72M
May 03, 2023

10-Q filing | 65.0M shares outstanding

65M 72M
Apr 12, 2023

8-K filing: Kimbell Royalty Partners, LP acquired certain mineral interests by issuing 5,369,218 OpCo Common Units and Class B Units, and 557,302 KRP Common Units to the sellers.

64M 72M
Feb 23, 2023

10-K filing | 64.2M shares outstanding

64M 72M
Jan 17, 2023

S-3 filing: This is an S-3 filing for a mixed shelf offering of common units, preferred units, partnership securities, warrants and rights by Kimbell Royalty Partners, LP, and also includes an offering of common units by selling unitholders. The aggregate initial offering price of all securities sold by the company will not exceed $125,378,250.

57M 72M
Dec 15, 2022

8-K filing: Kimbell issued 7,272,821 Class B units and an equal number of Opco units to the Seller on December 15, 2022, in a private placement exempt from registration requirements.

57M 55M
Nov 08, 2022

8-K filing: Kimbell Royalty Partners, LP entered into an Underwriting Agreement for the offer and sale of 6,000,000 common units at $17.75 per unit, with an option for the underwriters to purchase up to an additional 900,000 common units, with the offering expected to close on November 8, 2022. ($100.7M proceeds)

57M 55M
Nov 03, 2022

8-K filing: Kimbell Royalty Partners, LP will acquire assets from Hatch Royalty LLC, including the issuance of 7,272,821 OpCo Common Units and an equal number of Class B Units to the seller.

57M 55M
Nov 03, 2022

10-Q filing | 57.3M shares outstanding

57M 55M
Aug 04, 2022

10-Q filing | 57.3M shares outstanding

57M 55M
May 10, 2022

10-Q filing | 57.3M shares outstanding

57M 55M
Feb 25, 2022

10-K filing | 47.2M shares outstanding

47M 55M
Dec 07, 2021

8-K filing: Kimbell completed the redemption of 25,000 Series A Cumulative Convertible Preferred Units, representing the entirety of the outstanding Preferred Units originally issued by the Company in 2018.

43M 55M
Nov 16, 2021

8-K filing: Kimbell Royalty Partners, LP delivered an irrevocable notice of redemption to redeem all 25,000 outstanding Series A Cumulative Convertible Preferred Units for an aggregate redemption price of approximately $31 million on December 7, 2021. ($31.0M proceeds)

43M 55M
Nov 04, 2021

10-Q filing | 42.9M shares outstanding

43M 55M
Aug 05, 2021

10-Q filing | 42.9M shares outstanding

43M 55M
Jun 08, 2021

8-K filing: Kimbell Royalty Partners, LP delivered an irrevocable notice of redemption to the holders of Series A Cumulative Convertible Preferred Units to call for redemption on July 7, 2021, 30,000 Preferred Units at a price of $1,202.51 per Preferred Unit for an aggregate redemption price of $36.1 million. ($36.1M proceeds)

40M 55M
May 06, 2021

10-Q filing | 39.7M shares outstanding

40M 55M
Feb 26, 2021

10-K filing | 38.9M shares outstanding

39M 55M
Nov 05, 2020

10-Q filing | 38.9M shares outstanding

39M 55M
Aug 06, 2020

10-Q filing | 36.6M shares outstanding

37M 55M
May 18, 2020

S-3 filing: Kimbell Royalty Partners, LP is offering common units, preferred units, partnership securities, warrants and rights, and the selling unitholders are offering 29,878,333 common units.

37M 55M
May 07, 2020

10-Q filing | 36.6M shares outstanding

37M 25M
Apr 20, 2020

8-K filing: Kimbell Royalty Partners, LP completed the acquisition of Springbok Energy Partners, LLC and Springbok Energy Partners II, LLC, issuing common units, Class B units, and Opco Common Units as part of the consideration.

33M 25M
Mar 05, 2020

S-3/A filing: This S-3/A filing indicates a combined prospectus related to primary and secondary offerings. The primary offering by the registrant includes common units, preferred units, partnership securities, warrants, and rights with an aggregate initial offering price of $56,950,000. The secondary offering involves the resale by selling unitholders of a total of 25,516,841 common units.

33M 25M
Feb 28, 2020

10-K filing | 33.4M shares outstanding

33M 28M
Feb 10, 2020

S-3 filing: Kimbell Royalty Partners, LP files an S-3 registration statement to register the offer and sale of common units, preferred units, partnership securities, warrants, and rights up to an aggregate initial offering price of $56,950,000. The filing also covers the secondary offering of 28,129,814 common units by selling unitholders.

N/A 28M
Jan 15, 2020

8-K filing: Kimbell Royalty Partners, LP delivered an irrevocable notice of redemption to the holders of Series A Cumulative Convertible Preferred Units to call for redemption on February 12, 2020, 55,000 Preferred Units, representing 50% of the outstanding Preferred Units, at a price of $1,110.72 per Preferred Unit for an aggregate redemption price of $61.1 million. ($61.1M proceeds)

N/A 0
Jan 14, 2020

8-K filing: Kimbell Royalty Partners, LP entered into an Underwriting Agreement for the offer and sale of 5,000,000 common units at $15.50 per unit, with an option for the underwriters to purchase an additional 750,000 units. ($77.5M proceeds)

N/A 0
Jan 09, 2020

8-K filing: Kimbell acquired mineral and royalty interests in Oklahoma for $9.9 million and Buckhorn for 2,169,348 Opco Common Units and an equal number of Class B Units valued at $36.3 million. ($36.3M proceeds)

N/A 0
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