Sec Form 3 Filing - EnCap Partners GP, LLC @ Kimbell Royalty Partners, LP - 2023-05-17

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person EnCap Partners GP, LLC 2. Issuer Name and Ticker or Trading Symbol Kimbell Royalty Partners, LP [ KRP] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 9651 KATY FREEWAY, SUITE 600 3. Date of Earliest Transaction (MM/DD/YY) 05/17/2023 (Street) HOUSTON, TX77024 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Units 4,541,914 I See footnotes ( 2 ) ( 4 ) Class B Common Units ( 1 ) 5,369,218 I See footnotes ( 2 ) ( 3 ) ( 5 ) ( 6 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares OpCo Common Units $ 0 ( 1 ) ( 1 ) Common Units 5,369,218 I See footnotes ( 2 ) ( 3 ) ( 5 ) ( 6 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other EnCap Partners GP, LLC 9651 KATY FREEWAY, SUITE 600 HOUSTON, TX77024 X MB Minerals, L.P. 900 NORTH SHORELINE BLVD, SUITE 900N CORPUS CHRISTI, TX78407 X Sabalo Midland Basin, Inc. 900 NORTH SHORELINE BLVD, SUITE 900N CORPUS CHRISTI, TX78407 X EnCap Energy Capital Fund IX, L.P. 9651 KATY FREEWAY, SUITE 600 HOUSTON, TX77024 X EnCap Energy Capital Fund VIII, L.P. 9651 KATY FREEWAY, SUITE 600 HOUSTON, TX77024 X Signatures /s/ Barry Clark(7) 05/24/2023 Signature of Reporting Person Date /s/ Barry Clark(8) 05/24/2023 Signature of Reporting Person Date /s/ Douglas E. Swanson, Jr.(9) 05/24/2023 Signature of Reporting Person Date /s/ Douglas E. Swanson, Jr.(10) 05/24/2023 Signature of Reporting Person Date /s/ Douglas E. Swanson, Jr.(11) 05/24/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The Class B units ("Class B Units") representing limited partner interests in Kimbell Royalty Partners, LP (the "Issuer") have no economic rights, but each entitles the holder thereof to one vote on all matters to be voted on by unitholders of the Issuer generally. Class B Units, together with an equivalent number of common units ("OpCo Common Units") representing limited liability company interests in Kimbell Royalty Operating, LLC ("OpCo"), are exchangeable from time to time by holders thereof for common units ("Common Units") representing limited partner interests in the Issuer on a one-for-one basis or, at OpCo's election, for cash. ( 2 )EnCap Partners GP, LLC ("EnCap Partners GP") is the sole general partner of EnCap Partners, LP, which is the managing member of EnCap Investments Holdings, LLC, which is the sole member of EnCap Investments GP, L.L.C. ("EnCap Investments GP"), which is the general partner of EnCap Investments L.P. ("EnCap Investments LP"), which is the general partner of EnCap Equity Fund VIII GP, L.P. ("EnCap Fund VIII GP"), which is the general partner of EnCap Energy Capital Fund VIII, L.P. ("EnCap Fund VIII"). ( 3 )(Continued from Footnote 2) Additionally, EnCap Investments LP is the general partner of EnCap Equity Fund IX GP, L.P. ("EnCap Fund IX GP"), which is the general partner of EnCap Energy Capital Fund IX, L.P. ("EnCap Fund IX"), which is the sole stockholder of Sabalo Midland Basin, Inc. ("Sabalo Midland Basin"), which is the general partner of MB Minerals, L.P. ("MB Minerals"). ( 4 )These securities are directly held by Fund VIII. EnCap Partners GP indirectly manages EnCap Fund VIII. Therefore, EnCap Partners GP may be deemed to share voting or dispositive power over these securities and may also be deemed to be indirect beneficial owners of these securities. None of the Reporting Persons other than EnCap Partners GP and EnCap Fund VIII have or should be deemed to have any direct or indirect beneficial ownership interest in these securities, and all of the Reporting Persons disclaim beneficial ownership of these securities except to the extent of any such Reporting Person's pecuniary interest therein. ( 5 )These securities are directly held by MB Minerals. On April 11, 2023, pursuant to the purchase and sale agreement (the "Kimbell PSA") by and among MB Minerals, Barry Clark, Michael F. Dignam Jr., Thomas A. Medary, Wayne A. Psencik and the Issuer and Kimbell Royalty Operating, LLC, MB Minerals received 5,369,218 OpCo Units and an equivalent amount of Class B Units. EnCap Partners GP indirectly manages Fund IX, which is the sole stockholder of Sabalo Midland Basin, which is the general partner of MB Minerals. Therefore, EnCap Partners GP, EnCap Fund IX and Sabalo Midland Basin may be deemed to share voting or dispositive power over these securities and may also be deemed to be indirect beneficial owners of these securities. ( 6 )(Continued from Footnote 5) None of the Reporting Persons other than EnCap Partners GP, EnCap Fund IX, Sabalo Midland Basin and MB Minerals have or should be deemed to have any direct or indirect beneficial ownership interest in these securities, and all of the Reporting Persons disclaim beneficial ownership of these securities except to the extent of any such Reporting Person's pecuniary interest therein.

Remarks: 7. Signed by Barry Clark in his capacity as President of Sabalo Midland Basin, the general partner of MB Minerals. 8. Signed by Barry Clark in his capacity as President of Sabalo Midland Basin. 9. Signed by Douglas E. Swanson, Jr. in his capacity as a Managing Partner of EnCap Partners GP, the sole General Partner of EnCap Partners LP, the Managing Member of EnCap Investment Holdings, the General Partner of EnCap Investments GP, the General Partner of EnCap Investments LP, the General Partner of EnCap Fund IX GP, the General Partner of EnCap Fund IX. 10. Signed by Douglas E. Swanson, Jr. in his capacity as a Managing Partner of EnCap Partners GP, the sole General Partner of EnCap Partners LP, the Managing Member of EnCap Investment Holdings, the General Partner of EnCap Investments GP, the General Partner of EnCap Investments LP the General Partner of EnCap Equity Fund VIII GP, L.P., the General Partner of EnCap Energy Capital Fund VIII, L.P. 11. Signed by Douglas E. Swanson, Jr. in his capacity as a Managing Partner of EnCap Partners GP.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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