Black Stone Minerals, L.P.
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 4, 2025
BSM$13.74-1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $2,864 | $2,519 |
| Restricted cash | 3,304 | — |
| Accrued revenue and accounts receivable | 64,367 | 71,093 |
| Commodity derivative assets, net | 8,507 | 1,824 |
| Prepaid expenses and other current assets | 6,131 | 3,108 |
| TOTAL CURRENT ASSETS | 85,173 | 78,544 |
| PROPERTY AND EQUIPMENT | ||
| Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $1,035,486 and $973,028 at September 30, 2025 and December 31, 2024, respectively | 3,174,675 | 3,105,457 |
| Accumulated depletion and impairment | (1,999,325) | (1,973,460) |
| Oil and natural gas properties, net | 1,175,350 | 1,131,997 |
| Other property and equipment, net of accumulated depreciation of $15,502 and $14,551 at September 30, 2025 and December 31, 2024, respectively | 1,255 | 2,044 |
| NET PROPERTY AND EQUIPMENT | 1,176,605 | 1,134,041 |
| DEFERRED CHARGES AND OTHER LONG-TERM ASSETS | 8,602 | 6,321 |
| TOTAL ASSETS | $1,270,380 | $1,218,906 |
| LIABILITIES, MEZZANINE EQUITY, AND EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $2,627 | $5,946 |
| Accrued liabilities | 13,898 | 17,242 |
| Commodity derivative liabilities, net | 122 | 3,852 |
| Other current liabilities | 2,853 | 3,383 |
| TOTAL CURRENT LIABILITIES | 19,500 | 30,423 |
| LONG–TERM LIABILITIES | ||
| Credit facility | 95,000 | 25,000 |
| Accrued incentive compensation | 864 | 1,234 |
| Commodity derivative liabilities, net | 4,971 | 11,581 |
| Asset retirement obligations | 19,950 | 19,286 |
| Other long-term liabilities | 4,882 | 1,943 |
| TOTAL LIABILITIES | 145,167 | 89,467 |
| COMMITMENTS AND CONTINGENCIES (Note 7) | ||
| MEZZANINE EQUITY | ||
| Partners' equity – Series B cumulative convertible preferred units, 14,711 units outstanding at September 30, 2025 and December 31, 2024 | 300,478 | 300,478 |
| EQUITY | ||
| Partners' equity – general partner interest | — | — |
| Partners' equity – common units, 211,854 and 210,695 units outstanding at September 30, 2025 and December 31, 2024, respectively | 824,735 | 828,961 |
| TOTAL EQUITY | 824,735 | 828,961 |
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY | $1,270,380 | $1,218,906 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.