Commodity Price Volatility: KRP's revenues and distributable cash flow are highly dependent on prevailing market prices for oil, natural gas, and natural gas liquids, and a sustained decline in these prices would materially and adversely affect its financial results and ability to make distributions.

Production Decline and Depletion Risk: Royalty interests are on depleting assets, and without successful ongoing development and drilling activity by operators on KRP's underlying acreage, production volumes and associated royalty income will naturally decline over time.

Regulatory and Environmental Changes: Future changes in government regulations, including those related to environmental protection, drilling practices, or taxation of oil and natural gas production, could increase costs for operators, reduce drilling activity, or otherwise negatively impact KRP's royalty interests.