Kimbell Royalty (NYSE:KRP) reported record second-quarter results, supported by higher production, contributions from acquisitions and record oil, natural gas and NGL revenue. Davis Ravnaas described the company’s balance sheet as conservative and said the Mesa acquisition had been incorporated into the borrowing-base increase. Davis Ravnaas said Kimbell had submitted bids for several large Permian packages but encountered bids substantially above what it was willing to pay. About Kimbell Royalty (NYSE:KRP)Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities.