Black Stone Minerals LP
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
BSM$13.98-2.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations F-
(in thousands, except per unit amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| REVENUE | |||
| Oil and condensate sales | $269,061 | $288,296 | $336,287 |
| Natural gas and natural gas liquids sales | 157,907 | 200,297 | 434,945 |
| Lease bonus and other income | 12,461 | 12,506 | 13,052 |
| Revenue from contracts with customers | 439,429 | 501,099 | 784,284 |
| Gain (loss) on commodity derivative instruments | (5,730) | 91,117 | (120,680) |
| TOTAL REVENUE | 433,699 | 592,216 | 663,604 |
| OPERATING (INCOME) EXPENSE | |||
| Lease operating expense | 9,705 | 11,386 | 12,380 |
| Production costs and ad valorem taxes | 49,577 | 56,979 | 66,233 |
| Exploration expense | 2,735 | 2,148 | 193 |
| Depreciation, depletion, and amortization | 45,196 | 45,683 | 47,804 |
| General and administrative | 52,082 | 51,455 | 53,652 |
| Accretion of asset retirement obligations | 1,298 | 1,042 | 861 |
| (Gain) loss on sale of assets, net | — | (73) | (17) |
| TOTAL OPERATING EXPENSE | 160,593 | 168,620 | 181,106 |
| INCOME (LOSS) FROM OPERATIONS | 273,106 | 423,596 | 482,498 |
| OTHER INCOME (EXPENSE) | |||
| Interest and investment income | 1,666 | 1,867 | 53 |
| Interest expense | (3,109) | (2,754) | (6,286) |
| Other income (expense) | (337) | (160) | 215 |
| TOTAL OTHER EXPENSE | (1,780) | (1,047) | (6,018) |
| NET INCOME (LOSS) | 271,326 | 422,549 | 476,480 |
| Distributions on Series B cumulative convertible preferred units | (29,466) | (21,776) | (21,000) |
| NET INCOME (LOSS) ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON UNITS | $241,860 | $400,773 | $455,480 |
| ALLOCATION OF NET INCOME (LOSS): | |||
| General partner interest | $— | $— | $— |
| Common units | 241,860 | 400,773 | 455,480 |
| $241,860 | $400,773 | $455,480 | |
| NET INCOME (LOSS) ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON UNIT: | |||
| Per common unit (basic) | $1.15 | $1.91 | $2.18 |
| Per common unit (diluted) | $1.15 | $1.88 | $2.12 |
| WEIGHTED AVERAGE COMMON UNITS OUTSTANDING: | |||
| Weighted average common units outstanding (basic) | 210,684 | 209,970 | 209,382 |
| Weighted average common units outstanding (diluted) | 210,780 | 225,105 | 224,446 |
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