Black Stone Minerals: 2024 Distribution Coverage Projected At Near 1.0x

Phra yor Jitonnom Black Stone Minerals, L.P. (NYSE:BSM) provided 2024 guidance including expectations of approximately 41,000 BOEPD (24% oil) in average production. This was higher than what I had previously expected for Black Stone in terms of 2024 production, although the oil cut is lower than what I had modeled in December 2023. Based on guidance, Black Stone is projected to generate $391 million in distributable cash flow (or $1.86 per common unit) during 2024 at current strip prices. This results i ...