Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 106

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 106
---
 202319,091 272,296 64,474 Revisions of previous estimates1119 (25,218)(4,084)Purchases of minerals in place310 314 62 Sales of minerals in place4(163)(1,250)(371)Extensions, discoveries and other additions22,015 56,323 11,402 Production(3,606)(62,984)(14,103)Net proved reserves at December 31, 202417,466 239,481 57,380 Net Proved Developed Reserves   December 31, 202219,184 236,529 58,606 December 31, 202319,091 228,061 57,101 December 31, 202417,466 220,901 54,283 Net Proved Undeveloped Reserves   December 31, 2022— 33,057 5,509 December 31, 2023— 44,235 7,373 December 31, 2024— 18,580 3,097 1   Revisions of previous estimates include technical revisions due to changes in commodity prices, historical and projected performance and other factors. The most notable revisions are related to changes in commodity pricing.2   Includes extensions and additions related to drilling activities in multiple areas, primarily within the Haynesville/Bossier play trend and the Permian Basin.3   Includes the acquisition of mineral and royalty reserves primarily within the Haynesville/Bossier play trend.4   Includes divestitures of working interest reserves primarily within the Austin Chalk play trend.

F-31

BLACK STONE MINERALS, L.P. AND SUBSIDIARIESSUPPLEMENTAL OIL AND NATURAL GAS DISCLOSURES—UNAUDITED

Standardized Measure of Discounted Future Net Cash FlowsFuture cash inflows represent expected revenues from production of period-end quantities of proved reserves based on the 12-month unweighted average of first-day-of-the-month commodity prices for the periods presented. All prices are adjusted by field for quality, transportation fees, energy content and regional price differentials. Future cash inflows are computed by applying applicable prices relating to the Partnership’s proved reserves to the year-end quantities of those reserves. Future production, development, site restoration and abandonment costs are derived based on current costs assuming continuation of existing economic conditions. There are no future income tax expenses deducted from future production revenues