Black Stone Minerals, L.P.
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
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 F-
| As of December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $1,478 | $2,519 |
| Accrued revenue and accounts receivable | 65,572 | 71,093 |
| Commodity derivative assets, net | 18,864 | 1,824 |
| Prepaid expenses and other current assets | 9,722 | 3,108 |
| TOTAL CURRENT ASSETS | 95,636 | 78,544 |
| PROPERTY AND EQUIPMENT | ||
| Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $1,063,709 and $973,028 at December 31, 2025 and 2024, respectively | 3,079,340 | 3,105,457 |
| Accumulated depreciation, depletion, amortization, and impairment | (1,855,332) | (1,973,460) |
| Oil and natural gas properties, net | 1,224,008 | 1,131,997 |
| Other property and equipment, net of accumulated depreciation of $15,768 and $14,511 at December 31, 2025 and 2024, respectively | 1,126 | 2,044 |
| NET PROPERTY AND EQUIPMENT | 1,225,134 | 1,134,041 |
| DEFERRED CHARGES AND OTHER LONG-TERM ASSETS | 14,784 | 6,321 |
| TOTAL ASSETS | $1,335,554 | $1,218,906 |
| LIABILITIES, MEZZANINE EQUITY, AND EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $2,823 | $5,946 |
| Accrued liabilities | 19,388 | 17,242 |
| Commodity derivative liabilities, net | — | 3,852 |
| Other current liabilities | 2,412 | 3,383 |
| TOTAL CURRENT LIABILITIES | 24,623 | 30,423 |
| LONG-TERM LIABILITIES | ||
| Credit facility | 154,000 | 25,000 |
| Accrued incentive compensation | 1,011 | 1,234 |
| Commodity derivative liabilities, net | — | 11,581 |
| Asset retirement obligations | 22,716 | 19,286 |
| Other long-term liabilities | 4,748 | 1,943 |
| TOTAL LIABILITIES | 207,098 | 89,467 |
| COMMITMENTS AND CONTINGENCIES (Note 11) | ||
| MEZZANINE EQUITY | ||
| Partners' equity — Series B cumulative convertible preferred units, 14,711 and 14,711 units outstanding at December 31, 2025 and 2024, respectively | 300,478 | 300,478 |
| EQUITY | ||
| Partners' equity — general partner interest | — | — |
| Partners' equity — common units, 211,873 and 210,695 units outstanding at December 31, 2025 and 2024, respectively | 827,978 | 828,961 |
| TOTAL EQUITY | 827,978 | 828,961 |
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY | $1,335,554 | $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.