Black Stone Minerals L P Stock Price, News & Analysis

Black Stone Minerals (NYSE: BSM) reported a strong second quarter for 2021, with mineral and royalty production rising 5% to 32.5 MBoe/d. Net income reached $15.4 million while Adjusted EBITDA stood at $78.4 million. The company announced a distribution of $0.25 per unit, including a special $0.05, reflecting various one-time positive factors. Distributable cash flow increased 34% to $72.1 million. Total debt decreased to $81 million, indicating robust financial health. New agreements for development in Texas and a sustainability initiative were also highlighted.

Black Stone Minerals, L.P. (NYSE: BSM) announced the appointment of Carrie P. Clark as Senior Vice President, Land & Legal, effective August 2, 2021. She will manage the Land and Land Administration teams. CEO Thomas L. Carter, Jr. expressed enthusiasm about her strategic experience, which is expected to enhance business development efforts and add value for unitholders. Clark has over 20 years of land and legal experience, most recently as Executive VP at University Lands, and previously held senior roles at Talos Energy and EnerVest Operating.

Black Stone Minerals, L.P. (NYSE: BSM) has announced its participation in the Citi 2021 Global Energy and Utilities Virtual Conference on May 12, 2021. Management will engage in one-on-one meetings with investors. Updated presentation materials will be accessible in the Investor Relations section of the Black Stone Minerals website before the conference.

Black Stone Minerals is among the largest owners of oil and gas mineral interests in the U.S., holding interests in 41 states. The company’s extensive asset base aims to provide steady production and cash flow for its unitholders.

Black Stone Minerals reported Q1 2021 financial results, with mineral and royalty production at 31.1 MBoe/d, down 3% from Q4 2020. Net income reached $16.2 million, while Adjusted EBITDA was $60.0 million, both showing declines from the previous quarter. Distributable cash flow of $53.8 million led to a distribution coverage of 1.5x based on a cash distribution of $0.175 per unit. Total debt decreased to $96.0 million as of April 30, 2021, with a reaffirmed borrowing base of $400 million until November 2024. Strategic agreements were made for further development in East Texas.

Black Stone Minerals, L.P. (NYSE: BSM) has declared a cash distribution of $0.175 per common unit for the first quarter of 2021. This distribution will be paid on May 21, 2021, to unitholders of record on May 14, 2021. The company also announced an earnings conference call scheduled for May 4, 2021, to discuss its first quarter results, which will be released after trading on May 3, 2021. Black Stone owns mineral and royalty interests across 41 states in the U.S., contributing to stable cash flow for distributions.

Black Stone Minerals, L.P. (BSM) announced its fourth quarter and full year 2020 results, showcasing a net income of $30.3 million and Adjusted EBITDA of $72.3 million for Q4. Production rose 3% to 32.0 MBoe/d, though the full year average declined by 8% to 33.4 MBoe/d. The company reduced total debt by $273 million throughout 2020, ending the year with a debt-to-Adjusted EBITDA ratio of 0.4x. For 2021, BSM anticipates a decrease in mineral and royalty production, forecasting 28-30 MBoe/d and maintaining quarterly distributions at $0.175 per unit.

On February 19, 2021, Cushing Asset Management and Swank Capital announced a change in constituents for the Cushing MLP Market Cap Index. TC PipeLines, LP (NYSE: TCP) is set to merge with TC Energy Corporation (NYSE: TRP), leading to TCP ceasing public trades. A special unitholder meeting is scheduled for February 26, 2021, to vote on the merger. If approved, Black Stone Minerals, L.P. (NYSE: BSM) will replace TCP in the Index starting March 1, 2021. This change will not affect other constituents.

Black Stone Minerals, L.P. (NYSE: BSM) announced a cash distribution of $0.175 per common unit for Q4 2020, marking a 17% increase from the previous quarter. This distribution will be paid on February 23, 2021, to unitholders of record by February 16, 2021. The increase is attributed to successful debt reduction efforts that enhance free cash flow returned to unitholders. Additionally, the company will report its Q4 earnings on February 22, 2021, with a conference call scheduled for February 23, 2021, at 9:00 AM CT.