Black Stone Minerals LP
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
BSM$13.74-1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows F-
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income (loss) | $422,549 | $476,480 | $181,987 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation, depletion, and amortization | 45,683 | 47,804 | 61,019 |
| Accretion of asset retirement obligations | 1,042 | 861 | 1,073 |
| Amortization of deferred charges | 1,039 | 1,954 | 1,579 |
| (Gain) loss on commodity derivative instruments | (91,117) | 120,680 | 146,474 |
| Net cash (paid) received on settlement of commodity derivative instruments | 82,723 | (203,166) | (112,946) |
| Equity-based compensation | 10,829 | 17,388 | 12,218 |
| Exploratory dry hole expense | — | — | 1,048 |
| (Gain) loss on sale of assets, net | (73) | (17) | (2,850) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 53,053 | (39,513) | (34,856) |
| Prepaid expenses and other current assets | (414) | 51 | (289) |
| Accounts payable, accrued liabilities, and other | (3,827) | 3,012 | 2,652 |
| Settlement of asset retirement obligations | (236) | (551) | (229) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 521,251 | 424,983 | 256,880 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Acquisitions of oil and natural gas properties | (14,605) | (149) | (10,043) |
| Additions to oil and natural gas properties | (4,213) | (11,894) | (4,066) |
| Additions to oil and natural gas properties leasehold costs | (545) | (32) | (98) |
| Purchases of other property and equipment | (450) | (488) | (428) |
| Proceeds from the sale of oil and natural gas properties | 73 | 17 | 318 |
| Proceeds from farmouts of oil and natural gas properties | — | 11,331 | — |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (19,740) | (1,215) | (14,317) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Distributions to common unitholders | (398,824) | (322,403) | (176,924) |
| Distributions to Series B cumulative convertible preferred unitholders | (21,000) | (21,000) | (21,000) |
| Repurchases of common units | (5,496) | (2,991) | (1,957) |
| Borrowings under credit facility | 64,000 | 339,000 | 212,000 |
| Repayments under credit facility | (74,000) | (418,000) | (244,000) |
| Debt issuance costs and other | (216) | (2,943) | (3,602) |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (435,536) | (428,337) | (235,483) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 65,975 | (4,569) | 7,080 |
| Cash and cash equivalents — beginning of the year | 4,307 | 8,876 | 1,796 |
| Cash and cash equivalents — end of the year | $70,282 | $4,307 | $8,876 |
| SUPPLEMENTAL DISCLOSURE | |||
| Interest paid | $1,736 | $4,332 | $4,035 |
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