Welcome to our dedicated page for Black Stone Minerals L P SEC filings (Ticker: BSM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page compiles U.S. Securities and Exchange Commission filings for Black Stone Minerals, L.P. (NYSE: BSM), an oil and natural gas mineral company that owns mineral and royalty interests across 41 states in the continental United States. These filings provide detailed insight into the Partnership’s financial condition, operations, governance, and compensation practices.
Investors can use Black Stone’s annual reports on Form 10-K and quarterly reports on Form 10-Q to review revenue from oil and condensate sales, natural gas and natural gas liquids sales, lease bonus and other income, as well as production volumes, operating expenses, Adjusted EBITDA, and distributable cash flow. These reports also describe the company’s hedge positions, including volumes and fixed prices for oil and natural gas swaps, and explain how gains or losses on commodity derivative instruments affect reported results.
Current reports on Form 8-K and amendments such as Form 8-K/A document significant events, including leadership transitions, compensation decisions, and changes in governance. For example, an amended Form 8-K filing details a leadership transition effective January 1, 2026, and sets out salary and incentive targets for certain executive officers. Such filings help clarify how Black Stone structures executive roles and compensatory arrangements.
Stock Titan’s tools surface these filings as they are made available on EDGAR and apply AI-powered summaries to highlight key points from lengthy documents. Users can quickly identify items related to quarterly earnings, distribution decisions, debt and credit facility terms, hedge positions, and executive compensation, as well as track material developments reported under Item 5.02 and other sections. Form 4 and related ownership filings, when available, can be used to monitor insider transactions in BSM units. This page offers a structured view of Black Stone Minerals’ regulatory record, helping readers understand the Partnership’s financial reporting and governance over time.
Hamman Anne Lenoir reported acquisition or exercise transactions in this Form 4 filing.
Black Stone Minerals, L.P. director Anne Lenoir Hamman received a grant of 6,613 common units representing limited partner interests on
The filing also lists 502,703 common units held indirectly through a family limited partnership. A footnote states she disclaims beneficial ownership of these securities except to the extent of her pecuniary interest.
Black Stone Minerals, L.P. reported that senior vice president, general counsel, and secretary Luke Stevens Putman sold 30,276 common units representing limited partner interests in an open-market transaction on March 5, 2026 at an average price of $15.2459 per unit. After this sale, he directly holds 761,417 units.
Black Stone Minerals, L.P. Executive Chairman Carter Thomas L Jr received a grant of 136,315 common units representing limited partner interests on February 24, 2026 at no cost, as settlement of performance units under the company’s Long-Term Incentive Plan.
On the same date, 53,641 common units were disposed of at $15.23 per unit to satisfy tax withholding obligations related to this award. After these transactions, he directly held 3,613,846 common units, with additional indirect holdings reported through various family trusts, a spouse, and Carter2221, Ltd.
Black Stone Minerals, L.P. Co-CEO and President Taylor DeWalch reported equity compensation activity involving common units representing limited partner interests. On February 24, 2026, DeWalch acquired 1,958 common units at no cost as settlement of performance units under the company’s Long-Term Incentive Plan. On the same date, 478 common units were disposed of at $15.23 per unit to satisfy tax withholding obligations related to this award. After these transactions, DeWalch directly held 141,369 common units.
Black Stone Minerals, L.P. insider Putman Luke Stevens, SVP, General Counsel and Secretary, reported equity compensation activity involving common units representing limited partner interests. On February 24, 2026, he acquired 68,853 common units as a grant or award, with no cash price per unit reported.
On the same date, he disposed of 25,302 common units in a tax-withholding transaction, where the units were valued at $15.23 each to satisfy tax liabilities tied to the performance unit settlement under the company’s Long-Term Incentive Plan. Following these transactions, he directly owned 791,693 common units.
Black Stone Minerals, L.P. director and Co-CEO Carter Fowler reported incentive-based equity activity in common units representing limited partner interests. He acquired 1,330 common units on February 24, 2026 as a grant or award, bringing his direct holdings to 125,704 units immediately after the grant. On the same date, 325 common units were disposed of to cover tax withholding obligations at a price of $15.23 per unit, resulting in direct ownership of 125,379 common units. The filing notes that these transactions represent settlement of performance units awarded under the company’s Long-Term Incentive Plan.
Black Stone Minerals, L.P. senior vice president, CFO, and treasurer Chris Bonner reported equity compensation activity in common units representing limited partner interests. He acquired 1,447 common units on February 24, 2026 as a grant or award, bringing his direct holdings to 51,108 units immediately after this acquisition. On the same date, 430 common units were disposed of at
Black Stone Minerals, L.P. is a large U.S. owner of oil and natural gas mineral and royalty interests, focused on leasing its acreage and collecting cost-free royalties rather than operating wells. It owns interests in about 16.9 million gross mineral acres, plus 1.8 million NPRI acres and 1.6 million ORRI acres, across 41 states and roughly 71,000 producing wells.
As of December 31, 2025, estimated proved reserves were 54,845 MBoe, about 30% oil and 70% natural gas, with 87.8% classified as proved developed. 2025 production averaged 34.6 MBoe per day, totaling 12,632 MBoe, with realized prices of $64.24 per barrel of oil and $3.41 per Mcf for natural gas and associated NGL revenue.
The portfolio is concentrated in key resource plays including Haynesville/Bossier, Bakken/Three Forks, the Midland and Delaware sub‑basins of the Permian, and the Eagle Ford. Joint exploration agreements in the Shelby Trough area with Aethon, Revenant, and Caturus set multi‑year drilling or lateral-foot commitments aimed at developing undeveloped acreage while limiting capital exposure through non‑operated working interests and farmouts. The partnership highlights extensive risk factors, including commodity price volatility, operator performance, environmental and climate regulation, and tax and governance considerations that can affect cash distributions.
Black Stone Minerals, L.P. reported solid fourth-quarter and full-year 2025 results and issued its 2026 outlook. For Q4 2025, total production averaged 32.1 MBoe/d and net income was $72.2 million, with Adjusted EBITDA of $76.7 million and Distributable Cash Flow of $66.8 million. For full year 2025, mineral and royalty volumes averaged 33.3 MBoe/d, down 9% from 2024, while total production averaged 34.6 MBoe/d. Net income was $299.9 million, Adjusted EBITDA was $337.4 million, and Distributable Cash Flow was $300.0 million. Cash distributions for 2025 totaled $1.28 per common unit, including a $0.30 distribution for Q4 with 1.05x coverage. Year-end 2025 proved reserves were 54.8 MMBoe, a 4% decline from 2024, and debt was $154.0 million against a $580.0 million borrowing base. The Partnership provided 2026 guidance calling for total production of 33–36 MBoe/d with flat royalty volumes, higher G&A and exploration spending to support growth projects, and detailed oil and gas hedge positions through 2027.