Founded on ethics and investment discipline, we’ve grown from a single investment in the Permian Basin to one of the largest owners of minerals and royalties nationwide. Our portfolio includes over 16 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. We became a publicly-traded company in February 2017, trading on the NYSE under the ticker symbol KRP.
We converted to a C-Corp for federal income tax purposes in September 2018. Thus, investors in our common units will receive a 1099-DIV rather than a K-1.
Our investment strategy is simple: acquire premier quality, long-life, shallow decline oil and gas minerals. Integrity guides our approach. We offer fair valuations for high quality properties, ensuring the best outcome for both parties. We have earned a reputation in the industry for honesty and transparency by sticking to our word and cultivating long-term relationships. For these reasons and more, we are a trusted leader in the field of oil and gas mineral ownership.
In an industry with constantly improving technological capabilities, the ownership of a diverse portfolio of high quality minerals is the gift that keeps on giving. It has been our experience that quality properties tend to outperform and that big oil fields get bigger. Our belief in the land is guided by exhaustive research and engineering. In the pursuit of only the finest properties, we seek to identify basins with significant oil and gas in place, operated by high-quality companies with strong balance sheets. Our advantage is the high level of experience and expertise that our team possesses.
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