Company: BSM
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001621434-25-000108
Chunk: 64

Company: Black Stone Minerals, L.P.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 liabilities) are presented on a net basis in the accompanying consolidated statements of operations and consolidated statements of cash flows and consist of the following for the periods presented: Three Months Ended June 30,Six Months Ended June 30,Derivatives not designated as hedging instruments2025202420252024(in thousands)Beginning fair value of commodity derivative instruments$(65,999)$12,248 $(13,609)$37,335 Gain (loss) on oil derivative instruments17,224 (1,226)16,411 (24,456)Gain (loss) on natural gas derivative instruments35,560 (4,321)(19,628)7,619 Net cash paid (received) on settlements of oil derivative instruments(4,038)5,526 (3,656)5,405 Net cash paid (received) on settlements of natural gas derivative instruments892 (17,345)4,121 (31,021)Net change in fair value of commodity derivative instruments49,638 (17,366)(2,752)(42,453)Ending fair value of commodity derivative instruments$(16,361)$(5,118)$(16,361)$(5,118)The Partnership had the following open derivative contracts for oil as of June 30, 2025: Weighted Average Price (Per Bbl)Range (Per Bbl)Period and Type of ContractVolume (Bbl)LowHighOil Swap Contracts:    2025    Second Quarter185,000 $71.22 $70.02 $73.15 Third Quarter555,000 71.22 70.02 73.15 Fourth Quarter555,000 71.22 70.02 73.15 2026First Quarter480,000 $64.80 $62.63 $67.35 Second Quarter480,000 64.80 62.63 67.35 Third Quarter480,000 64.80 62.63 67.35 Fourth Quarter480,000 64.80 62.63 67.35 The Partnership had the following open derivative contracts for natural gas as of June 30, 2025: Weighted Average Price (Per MMBtu)Range (Per MMBtu)Period and Type of ContractVolume (MMBtu)LowHighNatural Gas Swap Contracts:    2025