Business Context and Reporting Period
This Form 8-K filing by Kimbell Royalty Partners, LP covers events occurring between April 27, 2018, and April 30, 2018. The report addresses corporate governance changes, specifically the resignation of a director, and the declaration of a quarterly cash distribution.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only specific financial figure disclosed is the quarterly distribution amount.
- Quarterly Distribution: $0.42 per common unit for the quarter ended March 31, 2018.
- Payment Date: May 14, 2018.
- Record Date: May 7, 2018.
Material Changes
Board Resignation: On April 30, 2018, Benny D. Duncan resigned from the board of directors of Kimbell Royalty GP, LLC (the General Partner). At the time of resignation, Mr. Duncan was not a member of any board committee.
Guidance, Outlook, and Corporate Governance
Corporate Governance: The filing includes standard corporate governance information required for the New York Stock Exchange annual certification. It confirms that independent directors meet in executive sessions without management participation, presided over by Audit Committee Chairman Craig Stone. A mechanism for unitholders to communicate directly with independent directors is provided.
Guidance and Risks: The filing text does not provide forward-looking guidance, management commentary on future performance, specific risk factors, or details on contingencies beyond the standard governance disclosures.
Investor Verification Checklist
- Verify the record date (May 7, 2018) to ensure eligibility for the $0.42 per unit distribution.
- Confirm the payment date of May 14, 2018, for cash flow planning.
- Review the impact of Benny D. Duncan's resignation on board composition and committee assignments.
- Check the company's website for the full corporate governance guidelines referenced in the filing.