Company: BSM
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022559
Chunk: 16

Company: Black Stone Minerals, L.P.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---
)MEZZANINE EQUITY  Partners' equity – Series B cumulative convertible preferred units, 14,711 units outstanding at March 31, 2025 and December 31, 2024300,478 300,478 EQUITY Partners' equity – general partner interest— — Partners' equity – common units, 211,630 and 210,695 units outstanding at March 31, 2025 and December 31, 2024, respectively764,487 828,961 TOTAL EQUITY764,487 828,961 TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY$1,238,835 $1,218,906 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

1

BLACK STONE MINERALS, L.P. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)(In thousands, except per unit amounts)

Three Months Ended March 31, 20252024REVENUE  Oil and condensate sales$50,093 $71,224 Natural gas and natural gas liquids sales58,235 42,011 Lease bonus and other income6,925 3,548 Revenue from contracts with customers115,253 116,783 Gain (loss) on commodity derivative instruments(56,001)(11,290)TOTAL REVENUE59,252 105,493 OPERATING (INCOME) EXPENSE  Lease operating expense2,162 2,432 Production costs and ad valorem taxes10,185 13,038 Exploration expense5,110 3 Depreciation, depletion, and amortization9,130 11,639 General and administrative15,172 14,090 Accretion of asset retirement obligations332 317 TOTAL OPERATING EXPENSE42,091 41,519 INCOME (LOSS) FROM OPERATIONS17,161 63,974 OTHER INCOME (EXPENSE) Interest and investment income64 670 Interest expense(1,397)(629)Other income (expense)120 (88)TOTAL OTHER INCOME (EXPENSE)(1,213)(47)NET INCOME (LOSS)15,948 63,927 Distributions on Series B cumulative convertible preferred units(7,366)(7