Company: BSM
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022559
Chunk: 43

Company: Black Stone Minerals, L.P.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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ollars in thousands, except for realized prices)Production:    Oil and condensate (MBbls)716 923 (207)(22.4)%Natural gas (MMcf)114,853 16,470 (1,617)(9.8)%Equivalents (MBoe)3,192 3,668 (476)(13.0)%Equivalents/day (MBoe)35.5 40.3 (4.8)(11.9)%Realized prices, without derivatives:Oil and condensate ($/Bbl)$69.96 $77.17 $(7.21)(9.3)%Natural gas ($/Mcf)13.92 2.55 1.37 53.7 %Equivalents ($/Boe)$33.94 $30.87 $3.07 9.9 %Revenue:Oil and condensate sales$50,093 $71,224 $(21,131)(29.7)%Natural gas and natural gas liquids sales158,235 42,011 16,224 38.6 %Lease bonus and other income6,925 3,548 3,377 95.2 %Revenue from contracts with customers115,253 116,783 (1,530)(1.3)%Gain (loss) on commodity derivative instruments(56,001)(11,290)(44,711)(396.0)%Total revenue$59,252 $105,493 $(46,241)(43.8)%Operating expenses:  Lease operating expense$2,162 $2,432 $(270)(11.1)%Production costs and ad valorem taxes10,185 13,038 (2,853)(21.9)%Exploration expense5,110 3 5,107 NM2Depreciation, depletion, and amortization9,130 11,639 (2,509)(21.6)%General and administrative15,172 14,090 1,082 7.7 %Other expense:Interest expense1,397 629 768 122.1 %

1    As a mineral and royalty interest owner, we are often provided insufficient and inconsistent data on NGL volumes by our operators. As a result, we are unable to reliably determine the total volumes of NGLs associated with the production of