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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 43,977 $ 34,168
Oil, natural gas and NGL receivables 36,582 45,924
Derivative assets 6,504 2,404
Accounts receivable and other current assets 1,420 2,771
Total current assets 88,483 85,267
Property and equipment, net 629 267
Oil and natural gas properties    
Oil and natural gas properties, using full cost method of accounting ($174,189 and $115,200 excluded from depletion at December 31, 2025 and December 31, 2024, respectively) 2,271,470 2,048,712
Less: accumulated depreciation, depletion and impairment (1,148,157) (1,023,890)
Total oil and natural gas properties, net 1,123,313 1,024,822
Right-of-use assets, net 4,606 3,730
Derivative assets 2,587 566
Loan origination costs, net 9,722 5,263
Total assets 1,229,340 1,119,915
Current liabilities    
Accounts payable 3,144 6,505
Other current liabilities 7,097 5,986
Derivative liabilities   255
Total current liabilities 10,241 12,746
Operating lease liabilities, excluding current portion 4,411 3,562
Derivative liabilities 28 879
Long-term debt 441,500 239,160
Other liabilities   73
Total liabilities 456,180 256,420
Commitments and contingencies (Note 15)
Mezzanine equity:    
Series A preferred units (162,500 and 325,000 units issued and outstanding as of December 31, 2025 and 2024, respectively) 158,793 316,002
Kimbell Royalty Partners, LP unitholders' equity:    
Common units (93,396,488 units and 80,969,651 units issued and outstanding as of December 31, 2025 and 2024, respectively) 531,121 463,496
Class B units (14,491,540 units and 14,524,120 units issued and outstanding as of December 31, 2025 and 2024, respectively) 724 726
Total Kimbell Royalty Partners, LP unitholders' equity 531,845 464,222
Non-controlling interest in OpCo 82,522 83,271
Total unitholders' equity 614,367 547,493
Total liabilities, mezzanine equity and unitholders' equity $ 1,229,340 $ 1,119,915