Company: BSM
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001621434-25-000108
Chunk: 114

Company: Black Stone Minerals, L.P.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 114
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 For the quarter ended June 30, 2025, general and administrative expenses slightly increased as compared to the same period in 2024, primarily due to higher cash compensation driven by increased salaries and certain one-time personnel-related costs.

Interest expense. Interest expense increased for the quarter ended June 30, 2025 as compared to the corresponding period in 2024. The increase was due to higher average outstanding borrowings under our Credit Facility. 

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024 

The following table shows our production, revenues, pricing, and expenses for the periods presented: Six Months Ended June 30, 20252024Variance(Dollars in thousands, except for realized prices)Production:    Oil and condensate (MBbls)1,579 1,876 (297)(15.8)%Natural gas (MMcf)128,563 32,820 (4,257)(13.0)%Equivalents (MBoe)6,340 7,346 (1,006)(13.7)%Equivalents/day (MBoe)35.0 40.4 (5.4)(13.4)%Realized prices, without derivatives:Oil and condensate ($/Bbl)$67.07 $77.35 $(10.28)(13.3)%Natural gas ($/Mcf)13.66 2.39 1.27 53.1 %Equivalents ($/Boe)$33.17 $30.44 $2.73 9.0 %Revenue:Oil and condensate sales$105,900 $145,113 $(39,213)(27.0)%Natural gas and natural gas liquids sales1104,424 78,504 25,920 33.0 %Lease bonus and other income11,639 8,337 3,302 39.6 %Revenue from contracts with customers221,963 231,954 (9,991)(4.3)%Gain (loss) on commodity derivative instruments(3,217)(16,837)13,620 80.9 %Total revenue$218,746 $215,117 $3,629 1.7 %Operating expenses:  Lease operating expense$5,152 $5,011 $141