HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone Minerals,” “Black Stone,” or “the Company”) today announces its financial and operating results for the fourth quarter and full year of 2023 and provides guidance for 2024. Fourth Quarter 2023 Highlights Mineral and royalty production for the fourth quarter of 2023 equaled 38.9 MBoe/d, a decrease of 3% over the prior quarter; total production, including working interest volumes, was 41.1 MBoe/d for the quarter Net income for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 (713) 445-3200 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file ...

Jamie Grill/The Image Bank via Getty Images Thesis Black Stone Minerals (NYSE:BSM) was handed a lump of coal for Christmas. On Christmas Eve, one of its largest natural gas producers, Aethon, announced that it was exercising a "time-out" clause in its drilling contracts with BSM in the Haynesville shale. In response, BSM announced that this would not meaningfully impact 2024 financials thanks to a pipeline of 30 wells that are already in progress. The company expects these wells will be completed on schedul ...

zhengzaishuru Black Stone Minerals, L.P. (NYSE:BSM) is an attractive energy royalty play. It is one of the largest owners and managers of oil and natural gas mineral interests in the United States. The company has a diversified asset base and long-lived and often non-cost-bearing mineral and royalty interests. BSM's interests are spread across 41 states in the continental U.S., encompassing major onshore producing basins and active resource plays. However, note that it is an MLP so you will get a K-1. I bel ...

HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone,” “BSM,” “the Company,” or “the Partnership”) today declared the distribution attributable to the fourth quarter of 2023. Additionally, the Partnership announced the date of its fourth quarter and full-year 2023 earnings call. Common Distribution The Board of Directors of the general partner has approved a cash distribution for common units attributable to the fourth quarter of 2023 of $0.475 per unit. The $0.475 per unit maint ...

Black Stone Minerals, L.P. (NYSE:BSM) Q3 2023 Earnings Conference Call October 31, 2023 10:00 AM ET Company Participants Mark Meaux - Director, Finance Tom Carter - Chairman, Chief Executive Officer and President Evan Kiefer - Chief Financial Officer and Treasurer Carrie Clark - Senior Vice President, Land and Commercial Steve Putman - Senior Vice President and General Counsel Thad Montgomery - Vice President Conference Call Participants Tim Rezvan - KeyBanc Capital Markets Derrick Whitfield - Stifel Operat ...

Depreciation, depletion, and amortization. Depletion is the amount of cost basis of oil and natural gas properties attributable to the volume of hydrocarbons extracted during a period, calculated on a units-of-production basis. Estimates of proved developed producing reserves are a major component of the calculation of depletion. We adjust our depletion rates semi-annually based upon mid-year and year-end reserve reports, except when circumstances indicate that there has been a significant change in reserve ...

Black Stone Minerals, L.P. (NYSE:BSM) Q2 2023 Earnings Conference Call August 1, 2023 10:00 AM ET Company Participants Mark Meaux – Director-Finance Tom Carter – Chairman and Chief Executive Officer Evan Kiefer – Interim Chief Financial Officer and Treasurer Carrie Clark – Senior Vice President-Land and Commercial Conference Call Participants Tim Rezvan – KeyBanc Capital Markets Derrick Whitfield – Stifel Trafford Lamar – Raymond James Operator Good day, everyone, and welcome to today's Black Stone Minerals ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |----------------------------------------------------------------------------|--------------------------|------------------------------------------| | | | | | For the transition period _______________ to _______________ | | | | Commission File Number: 001-37362 | | | | Black Stone | Minerals, | L.P. | | (Exact name of registrant as specified | in its charter) | | | Delaware | | 47-184669 ...

Financial Data and Key Metrics Changes - The company reported total production volumes of 39.3 MBoe/d for the first quarter, an 8% decrease from the fourth quarter [16] - Adjusted EBITDA was $109 million and distributable cash flow was $104 million, both up 11% to 12% from the first quarter of 2022 [19] - Realized prices per Boe for the first quarter were approximately $33 per barrel, a decrease of 35% from $51 per barrel in the fourth quarter [10] - The borrowing base for the revolving credit facility was reaffirmed at $550 million, with $375 million in commitments [11] Business Line Data and Key Metrics Changes - Royalty volumes for the first quarter were 36.8 MBoe/d, which is 24% above the first quarter of 2022 [17] - The company turned to sales 20 wells in the Shelby Trough under development agreements, with six new wells since the beginning of the year [6] - The company has 21 new generation multistage completion wells turned to sales in the East Texas Austin Chalk, with potential for an additional 14 wells this year [6][21] Market Data and Key Metrics Changes - The company experienced a decrease in rig activity on its acreage, down from 108 rigs at the end of the previous year to 78 rigs as of March 31 [18][35] - Permitted activity in the first quarter remained consistent with the fourth quarter, with over 400 horizontal permits added on the company's acreage [7] Company Strategy and Development Direction - The company aims to continue developing through commodity cycles, expecting to add long-term value to its unit holders [19] - The company is focused on organic initiatives and long-term development deals to accelerate production with minimal capital requirements [32] Management's Comments on Operating Environment and Future Outlook - Management noted challenges with natural gas prices but expressed confidence in maintaining the highest distribution level as a public company at $0.475 per unit [19] - The company expects to see growing volumes from Aethon and the Austin Chalk, which may mitigate risks from other areas [28] Other Important Information - The company’s hedging strategy brought in over $13 million for the quarter, with hedge natural gas prices over $5 per MMBtu [33][36] - The total debt balance was $0 at the end of the quarter, with $66 million in cash on the balance sheet [22] Q&A Session All Questions and Answers Question: Update on 2023 guidance - Management indicated that they typically update guidance mid-year and are currently assessing the gas price environment and rig counts before making any updates [23] Question: Payout ratio and distribution policy - Management stated they are comfortable maintaining a lower coverage in the near term and aim for a stable to slightly growing distribution [27] Question: Oil cuts and production impact from the Austin Chalk - Management expects to see significant volume ramp-up in Q3 and Q4 from the Austin Chalk area [29] Question: Buybacks and capital structure - Management is considering buybacks but does not have aggressive plans currently, focusing on maintaining a clean balance sheet [46][50]