Every 8-K that Black Stone Minerals, L.P. (BSM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow BSM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BSM filings page.
Black Stone Minerals, L.P. corrected its second-quarter 2026 disclosure, stating mineral and royalty interest acquisitions were $37.2 million for the quarter, not $48.7 million, which represented acquisitions for the six months ended June 30, 2026.
For the quarter, the partnership reported net income of $106.4 million, Adjusted EBITDA of $91.3 million, and distributable cash flow of $80.4 million. Total production averaged 33.5 MBoe/d, 97% from mineral and royalty interests, with an average realized price of $37.82 per Boe. The board approved a cash distribution of $0.32 per unit attributable to the quarter, or $1.28 annualized, with distribution coverage of 1.18x. Total debt was $196.0 million at June 30, 2026 and $168.0 million as of July 31, 2026, with the borrowing base under the credit facility reaffirmed at $580.0 million and elected commitments of $375.0 million.
Black Stone Minerals, L.P. reported voting results from its 2026 annual meeting of limited partners held on June 11, 2026. Unitholders elected all twelve nominees to the Board of Directors of the general partner to serve until the 2027 annual meeting and until successors are elected.
Unitholders also ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the year ending December 31, 2026. In addition, they approved, on a non-binding advisory basis, the compensation of the general partner’s named executive officers for the fiscal year ended December 31, 2025.
Black Stone Minerals, L.P. reported higher volumes and cash generation for the first quarter of 2026 while net income was pressured by hedge losses. Mineral and royalty production averaged 35.9 MBoe/d, up 16% from the prior quarter, and total production reached 37.0 MBoe/d.
Revenue from oil, gas, and NGL sales rose to $117.5 million as the average realized price increased to $35.30 per Boe. A $64.6 million loss on commodity derivatives, mostly non-cash, limited net income to $13.3 million. Adjusted EBITDA was $87.0 million and Distributable Cash Flow was $76.5 million.
The Partnership declared a cash distribution of $0.30 per common unit, with 1.20x coverage. Total debt was $187.0 million at quarter-end and declined to $164.0 million by May 1, 2026. The credit facility borrowing base was reaffirmed at $580.0 million, with elected commitments of $375.0 million, and Black Stone maintained extensive oil and gas hedges through 2027.
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.
Black Stone Minerals, L.P. reported that on February 4, 2026, the Board of Directors of its general partner appointed Anne Hamman as a director and as a member of the Audit Committee, effective immediately.
The company states there are no arrangements or understandings with other persons regarding her appointment, no family relationships with existing directors or executive officers, and no related-party transactions requiring disclosure. Ms. Hamman will receive the standard compensation provided to the general partner’s non-employee directors, as described in the Partnership’s proxy statement filed on April 30, 2025.
Black Stone Minerals, L.P. filed an amendment to a prior report to complete details of its previously announced leadership transition effective January 1, 2026. The filing confirms that the new officer and director appointments have taken effect and that the Compensation Committee has set target pay levels for the affected executives.
Executive Chairman Thomas L. Carter, Jr. has a salary of $450,000, with a short-term incentive target of $450,000 and a long-term incentive target of $1,600,000, for a total target compensation of $2,500,000. Co-Chief Executive Officers and Presidents Fowler T. Carter and Taylor DeWalch each have a salary of $425,000, STI target of $425,000, and LTI target of $2,400,000, for total targets of $3,250,000 each. Senior Vice President, Chief Financial Officer, and Treasurer Chris Bonner has a salary of $320,000, STI target of $320,000, and LTI target of $1,280,000, for a total target of $1,920,000.
The amendment also notes that Mr. Bonner is expected to enter into a severance agreement providing cash severance payments and benefits if his employment is terminated under certain circumstances, in a form substantially similar to agreements for certain other executives.
Black Stone Minerals, L.P. announced leadership changes and a board departure. On October 30, 2025, director William Mathis resigned from the Board of Black Stone Minerals GP, L.L.C., effective immediately; the company stated his decision was not due to any disagreement on operations, policies, or practices.
The Board approved a succession plan effective January 1, 2026 in which Thomas L. Carter, Jr. will become Executive Chairman. Fowler Carter and Taylor DeWalch will be appointed co‑Chief Executive Officers and join the Board. Chris Bonner will become Senior Vice President, Chief Financial Officer, and Treasurer, and Erin Phillips will serve as Controller and principal accounting officer. As directors, Mr. F. Carter and Mr. DeWalch will not be named to board committees and will not receive additional director compensation. Compensation arrangements for the new roles will be decided later. Disclosures note family relationships among certain appointees and that Stephen Fox, a related employee, received total compensation of $339,682 in 2024 and $258,659 for January 1, 2025 through October 31, 2025.
Black Stone Minerals (BSM) filed a current report announcing it furnished a press release with its third quarter 2025 financial and operating results. The press release, dated November 3, 2025, is included as Exhibit 99.1 under Item 2.02 (Results of Operations and Financial Condition).
The information in this report, including Exhibit 99.1, is being furnished, not filed, under the Exchange Act and is not subject to Section 18 liabilities, nor incorporated by reference into Securities Act filings except as expressly stated.
Black Stone Minerals, L.P. furnished an investor presentation under a Regulation FD disclosure. On September 16, 2025, the partnership posted an updated investor presentation on its investor relations website and furnished the same presentation as Exhibit 99.1 to this report. The materials are intended for use in conferences and meetings with investors and are incorporated by reference solely for this Regulation FD item. The partnership states that this information, including the exhibit, is furnished rather than filed, so it is not subject to Section 18 liability under the Exchange Act and will only be incorporated into other securities filings if specifically referenced.
Black Stone Minerals, L.P. entered into a Unitholder Agreement with AP Basileia SPV, LLC on August 22, 2025. Under this agreement, AP Basileia must vote all of its preferred units and any additional securities acquired under the agreement in line with recommendations of the Board of Directors of the Partnership’s general partner on all ordinary course matters submitted to limited partners.
In return, Black Stone Minerals agreed not to exercise its right to redeem these preferred units from the execution date through November 27, 2027. For the same period, AP Basileia agreed to a customary standstill regarding the Partnership and may not transfer its preferred or acquired securities unless any transferee agrees in writing to be bound by the same terms, subject to specified exceptions.