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Black Stone Minerals, L.P. reports news about its oil and natural gas mineral and royalty interests, quarterly production, cash distributions, and asset-management activity. The partnership owns mineral and royalty interests across the continental United States and focuses on non-cost-bearing mineral and royalty assets, with working-interest volumes also included in production updates.
Recurring developments include quarterly financial results, distributable cash flow, distribution coverage, acquisition activity, leasing, and development agreements. Company updates also describe activity in areas such as the Haynesville and Bossier plays, the Shelby Trough, the Permian, and the southern Delaware Basin, along with governance changes and investor presentations tied to strategic initiatives.
Black Stone Minerals (NYSE: BSM) reported second‑quarter 2026 net income of $106.4 million and Adjusted EBITDA of $91.3 million, with distributable cash flow of $80.4 million. Mineral and royalty production averaged 32.5 MBoe/d and total production 33.5 MBoe/d, down from 37.0 MBoe/d in the first quarter.
Average realized price per Boe rose to $37.82, driving oil and gas revenue of $115.4 million and total revenue of $149.0 million. The Board approved a cash distribution of $0.32 per common unit (1.18x coverage), up 7% sequentially. Total debt was $196.0 million at June 30, 2026, versus a reaffirmed $580.0 million borrowing base and $375.0 million elected commitments. The Partnership continued active development in the Shelby Trough, Haynesville, and Permian Basin and closed $48.7 million of mineral and royalty acquisitions in the quarter.
Black Stone Minerals (NYSE: BSM) declared a cash distribution of $0.32 per common unit attributable to the second quarter of 2026, about 7% higher than the prior quarter’s payout. The distribution will be paid on August 13, 2026 to unitholders of record as of August 6, 2026.
The Partnership will release its Q2 2026 results after market close on August 3, 2026 and host an earnings call on August 4, 2026 at 9:00 a.m. Central, accessible via its investor relations website and by domestic and international dial-in lines.
Black Stone Minerals (NYSE: BSM) reported Q1 2026 results with mineral & royalty production of 35.9 MBoe/d (16% QoQ) and total production of 37.0 MBoe/d. Adjusted EBITDA was $87.0M, distributable cash flow $76.5M, and net income was $13.3M. The Board approved a $0.30 per-unit distribution (coverage ~1.20x). Total debt was $187.0M at quarter end and $164.0M as of May 1, 2026, with about $10.0M cash. Activity included continued Shelby Trough development, new development agreements, and $11.5M of Q1 acquisitions, bringing cumulative acquisitions to $251.0M.
Black Stone Minerals (NYSE: BSM) declared a cash distribution of $0.30 per common unit for Q1 2026, unchanged from the prior quarter. Distributions are payable May 15, 2026, to unitholders of record on May 8, 2026.
The Partnership will release Q1 2026 results after market close on May 4, 2026, and hold an earnings conference call on May 5, 2026 at 9:00 a.m. CT (10:00 a.m. ET). The call will stream live on the investor relations website and a replay will be posted about two hours after the call.
Black Stone Minerals (NYSE: BSM) reported Q4 2025 and full-year results and provided 2026 guidance. Q4 net income was $72.2 million, Adjusted EBITDA was $76.7 million, and Distributable Cash Flow was $66.8 million. The board approved a $0.30 quarterly distribution (coverage ~1.05x).
Full-year 2025: net income $299.9 million, Adjusted EBITDA $337.4 million, mineral & royalty production averaged 33.3 MBoe/d (down 9% YoY), proved reserves 54.8 MMBoe (−4%). 2026 guidance expects flat full-year royalty production and increased activity through the Shelby Trough and Permian projects.
Black Stone Minerals (NYSE: BSM) declared a $0.30 per common unit cash distribution for Q4 2025, unchanged from the prior quarter. The distribution is payable February 25, 2026, to unitholders of record on February 18, 2026.
The Partnership will release Q4 and full-year 2025 results after market close on February 23, 2026, and hold an earnings call on February 24, 2026, at 9:00 a.m. CT (10:00 a.m. ET). The call will be webcast in listen-only mode on the investor relations website; domestic dial-in (800) 715-9871, international (646) 307-1963, conference ID 8003975. A replay will be available about two hours after the call.
Black Stone Minerals (NYSE: BSM) entered a 220,000 gross acre multi-year development agreement with an affiliate of Caturus Energy in the Shelby Trough and Haynesville Expansion on December 3, 2025. The program allows Caturus to escalate drilling over six years, beginning with ~2 gross (0.2 net) wells in 2026 and ramping to ~12 gross (0.8 net) wells annually by year six, supported by minimum annual lateral-foot requirements.
BSM currently manages ~40,000 undeveloped net acres in the contract area, has line of sight to additional acquisitions, and notes over 200,000 net acres covered by announced development agreements—an estimated 20 years of Haynesville/Bossier drilling inventory. Caturus, controlled by Kimmeridge, will operate the program.
Black Stone Minerals (NYSE: BSM) reported third quarter 2025 results with mineral and royalty production of 34.7 MBoe/d (36.3 MBoe/d total) and net income of $91.7M. Adjusted EBITDA was $86.3M and distributable cash flow was $76.8M. The Board approved a $0.30/unit quarterly distribution with coverage 1.21x. Total debt was $95.0M at quarter-end and $73.0M as of Oct 31, 2025; cash was ~$3.6M at Oct 31. The credit facility maturity was extended to Oct 31, 2030 with borrowing base reaffirmed at $580M. Management succession is effective Jan 1, 2026 with co-CEOs Fowler Carter and Taylor DeWalch and Chris Bonner promoted to CFO.
Black Stone Minerals (NYSE: BSM) declared a cash distribution of $0.30 per common unit attributable to the third quarter of 2025, consistent with the prior quarter. Distributions are payable on November 13, 2025 to unitholders of record on November 6, 2025. The Partnership will release third quarter 2025 results after market close on November 3, 2025, with an earnings conference call scheduled for November 4, 2025 at 9:00 a.m. Central time (10:00 a.m. ET). The call will be broadcast live in listen-only mode on BSM’s investor relations website and will offer a replay approximately two hours after the call.
Black Stone Minerals (NYSE: BSM) has announced an upcoming investor presentation and conference call scheduled for Wednesday, September 17, 2025, at 9:00 a.m. Central Time. The presentation will focus on the Partnership's strategic initiatives and outlook.
Participants can access the live broadcast through BSM's investor relations website, while analysts and investors planning to ask questions should dial in using specific numbers for domestic and international participation. The presentation materials will be available before the call, and a replay will be accessible through the company's investor relations website approximately two hours after the event.