Company: BSM
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022559
Chunk: 18

Company: Black Stone Minerals, L.P.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 an integral part of these unaudited consolidated financial statements. 

3

BLACK STONE MINERALS, L.P. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In thousands)

Three Months Ended March 31, 20252024CASH FLOWS FROM OPERATING ACTIVITIES  Net income (loss)$15,948 $63,927 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation, depletion, and amortization9,130 11,639 Accretion of asset retirement obligations332 317 Amortization of deferred charges274 268 (Gain) loss on commodity derivative instruments56,001 11,290 Net cash (paid) received on settlement of commodity derivative instruments(3,611)13,797 Equity-based compensation3,055 2,383 Changes in operating assets and liabilities:Accrued revenue and accounts receivable(6,860)9,851 Prepaid expenses and other current assets(4,248)(220)Accounts payable, accrued liabilities, and other(5,145)(8,510)Settlement of asset retirement obligations(41)(282)NET CASH PROVIDED BY OPERATING ACTIVITIES64,835 104,460 CASH FLOWS FROM INVESTING ACTIVITIES  Acquisitions of oil and natural gas properties(10,259)(22,966)Additions to oil and natural gas properties(129)(285)Additions to oil and natural gas properties leasehold costs(3,036)(753)Purchases of other property and equipment(43)(39)Proceeds from the sale of oil and natural gas properties400 79 NET CASH USED IN INVESTING ACTIVITIES(13,067)(23,964)CASH FLOWS FROM FINANCING ACTIVITIES  Distributions to common unitholders(79,177)(99,899)Distributions to Series B cumulative convertible preferred unitholders(7,366)(6,026)Repurchases of common units(3,289)(4,381)Borrowings under credit facility81,000 6,000 Repayments under credit facility(43,000)(6,000)Debt issuance costs and other(31)(16)NET CASH USED IN FINANCING ACTIVITIES(51,863)(110,322)NET CHANGE IN C