Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 144

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 144
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 are subject to extension options: 2025 Expirations2026 Expirations2027 ExpirationsNet Undeveloped Acreage1Net Acreagewithout Ext. Opt.Net Acreagewith Ext. Opt.Net Acreagewithout Ext. Opt.Net Acreagewith Ext. Opt.Net Acreagewithout Ext. Opt.Net Acreagewith Ext. Opt.15,527 866 876 333 146 474 3,829 

1  There are 9,003 undeveloped acres expiring between 2028 and 2031, and where applicable, subject to extension options.

14

Drilling Results for Our Working Interests

The following table sets forth information with respect to the number of wells in which we own a working interest completed on our properties during the periods indicated, excluding wells subject to our farmout agreements. The information should not be considered indicative of future performance, nor should it be assumed that there is necessarily any correlation among the number of productive wells drilled, the quantities of reserves found, and the economic value. Productive wells are those that produce commercial quantities of hydrocarbons, whether or not they produce a reasonable rate of return.  Year Ended December 31, 202420232022Gross development wells:   Productive— 1.0 1.0 Dry— — — Total— 1.0 1.0 Net development wells:   Productive— 0.2 0.1 Dry— — — Total— 0.2 0.1 Gross exploratory wells:   Productive— — — Dry— — — Total— — — Net exploratory wells:   Productive— — — Dry— — — Total— — — 

As of December 31, 2024, we had no wells in the process of drilling, completing or dewatering, or shut in awaiting infrastructure.

15

Environmental Matters 

Oil and natural gas exploration, development, and production operations are subject to stringent laws and regulations governing the discharge of materials into the environment or otherwise relating to protection of the environment or occupational health and safety. These laws and regulations have the potential to impact production on our properties, which could materially adversely affect our business and our prospects. Numerous federal, state, and local governmental agencies, such as the U.S