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UNITHOLDERS' EQUITY AND PARTNERSHIP DISTRIBUTIONS (Tables) | 12 Months Ended
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Dec. 31, 2025
Common units |
Schedule of distributions approved by the Board of Directors | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount per | ​ | Date | ​ | Unitholder | ​ | Payment
​ | ​ | Common Unit | ​ | Declared | ​ | Record Date | ​ | Date
Q1 2025 | ​ | $ | 0.47 | ​ | May 8, 2025 | ​ | May 20, 2025 | ​ | May 28, 2025
Q2 2025 | ​ | $ | 0.38 | ​ | August 7, 2025 | ​ | August 18, 2025 | ​ | August 25, 2025
Q3 2025 | ​ | $ | 0.35 | ​ | November 6, 2025 | ​ | November 17, 2025 | ​ | November 24, 2025
Q4 2025 | ​ | $ | 0.37 | ​ | February 26, 2026 | ​ | March 18, 2026 | ​ | March 25, 2026
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Q1 2024 | ​ | $ | 0.49 | ​ | May 2, 2024 | ​ | May 13, 2024 | ​ | May 20, 2024
Q2 2024 | ​ | $ | 0.42 | ​ | August 1, 2024 | ​ | August 12, 2024 | ​ | August 19, 2024
Q3 2024 | ​ | $ | 0.41 | ​ | November 7, 2024 | ​ | November 18, 2024 | ​ | November 25, 2024
Q4 2024 | ​ | $ | 0.40 | ​ | February 27, 2025 | ​ | March 18, 2025 | ​ | March 25, 2025
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Q1 2023 | ​ | $ | 0.35 | ​ | May 3, 2023 | ​ | May 15, 2023 | ​ | May 22, 2023
Q2 2023 | ​ | $ | 0.39 | ​ | August 2, 2023 | ​ | August 14, 2023 | ​ | August 21, 2023
Q3 2023 | ​ | $ | 0.51 | ​ | November 2, 2023 | ​ | November 13, 2023 | ​ | November 20, 2023
Q4 2023 | ​ | $ | 0.43 | ​ | February 21, 2024 | ​ | March 13, 2024 | ​ | March 20, 2024
​
Schedule of changes in common unitholder's equity due to changes in ownership interest | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2025 | ​ | 2024 | ​ | 2023
​ | ​ | (In thousands)
Net income attributable to the Partnership | ​ | $ | 86,264 | ​ | $ | 8,769 | ​ | $ | 65,152
Changes in ownership of consolidated subsidiaries, net | ​ | ​ | (13,924) | ​ | ​ | (3,782) | ​ | ​ | 23,421
Change from net income attributable to the Partnership's unitholders and transfers to non-controlling interest | ​ | $ | 72,340 | ​ | $ | 4,987 | ​ | ​ | 88,573
​
Common Units |
Common units |
Schedule of changes in Partnership's units | ​
​ | ​ | ​
​ | ​ | Common Units
Balance at December 31, 2024 | ​ | 80,969,651
Units issued for equity offering | ​ | 11,500,000
Common units issued under the A&R LTIP (1) | ​ | 1,213,611
Restricted units repurchased for tax withholding | ​ | (315,276)
Conversion of Class B units to common units | ​ | 32,580
Forfeiture of restricted units | ​ | (4,078)
Balance at December 31, 2025 | ​ | 93,396,488
(1) | Includes restricted units granted to certain employees, directors and consultants under the Kimbell Royalty GP, LLC 2017 Long-Term Incentive Plan on February 25, 2025.
Class B |
Common units |
Schedule of changes in Partnership's units | ​
​ | ​ | ​
​ | ​ | Class B Units
Balance at December 31, 2024 | ​ | 14,524,120
Conversion of Class B units to common units | ​ | (32,580)
Balance at December 31, 2025 | ​ | 14,491,540

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