8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest eventreported): January 21, 2022

Kimbell Royalty Partners, LP

(Exact name of registrant as specified in its charter)

Registrant’s telephone number, including area code: (817) 945-9700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):

Securities registered pursuant to 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     x

On January 21, 2022, Kimbell Royalty Partners, LP announced that the board of directors of Kimbell Royalty GP, LLC, its general partner, declared a quarterly cash distribution of $0.37 per common unit for the quarter ended December 31, 2021. The distribution will be paid on February 7, 2022 to common unitholders of record at the close of business on January 31, 2022.

(d) Exhibits.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 21, 2022

Exhibit 99.1

NEWS RELEASE

Kimbell RoyaltyPartners Declares Fourth Quarter 2021 Distribution

FORT WORTH, Texas, January 21, 2022 – Kimbell Royalty Partners, LP (NYSE: KRP) (“Kimbell”), a leading owner of oil and natural gas mineral and royalty interests in more than 122,000 gross wells across 28 states, today announced that the Board of Directors of Kimbell Royalty GP, LLC, Kimbell’s general partner, approved a cash distribution payment of 75% of projected cash available for distribution for the fourth quarter of 2021, or $0.37 per common unit. The distribution will be payable on February 7, 2022 to common unitholders of record at the close of business on January 31, 2022. Kimbell intends to utilize the remaining 25% of Q4 2021 projected cash available for distribution to pay down a portion of the outstanding borrowings under Kimbell’s credit facility. Since May 2020 (excluding the expected upcoming pay down from the remaining 25% of Q4 2021 projected cash available for distribution), Kimbell has paid down approximately $44.5 million of outstanding borrowings under its credit facility from allocating a portion of its cash available for distribution for debt pay down.

Kimbell - SupplementalDistribution Data

SUBSTANTIALLY ALL OF THE DISTRIBUTION TO COMMON UNITHOLDERS FOR THE FOURTH QUARTER OF 2021

EXPECTED TO BE FREE OF DIVIDEND INCOME TAXES AND INSTEAD CONSIDERED A RETURN OF CAPITAL^(4)^

^(1)^ Average monthly commodity prices are from the Energy Information Administration.  Crude oil prices are in dollars per barrel and natural gas prices are in dollars per million Btu.

^(2)^ Represents percentage of projected cash available for distribution to be paid in quarterly distribution declared.

^(3)^ Based on the closing price of Kimbell common units on January 21, 2022.

^(4)^ This estimate is based upon assumptions Kimbell has made regarding, among other things, Kimbell Royalty Operating, LLC's income and depletion deductions and production from the mineral and royalty interests owned by Kimbell Royalty Operating, LLC.  This estimate is based on current tax law and tax reporting positions that Kimbell has adopted and with which the Internal Revenue Service could disagree.  This estimate is not a fact, and no assurances can be made regarding this estimate.

Kimbell Royalty Partners, LP – News Release

Page 2

About Kimbell Royalty Partners

Kimbell (NYSE: KRP) is a leading oil and gas mineral and royalty company based in Fort Worth, Texas. Kimbell owns mineral and royalty interests in approximately 13 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 122,000 gross wells with over 46,000 wells in the Permian Basin. To learn more, visit kimbellrp.com.

Forward-Looking Statements

This news release includes forward-lookingstatements, including statements relating to the tax treatment of Kimbell’s distributions. These and other forward-looking statementsinvolve risks and uncertainties, including risks and uncertainties relating to Kimbell Royalty Operating, LLC’s realized incomeand depletions deductions and production from the mineral and royalty interests owed by Kimbell Royalty Operating, LLC, Kimbell’sbusiness and the securities markets generally and other risks described in Kimbell's Annual Report on Form 10-K and other filingswith the Securities and Exchange Commission (the “SEC”), available at the SEC's website at www.sec.gov. When considering theseforward-looking statements, you should keep in mind the risk factors and other cautionary statements in Kimbell's filings with the SEC.You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release.Except as required by law, Kimbell undertakes no obligation and does not intend to update these forward-looking statements to reflectevents or circumstances occurring after this news release.

Contact:

Rick Black

Dennard Lascar Investor Relations

krp@dennardlascar.com

(713) 529-6600