Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 123

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 123
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 and 14,711 units outstanding at December 31, 2024 and 2023, respectively300,478 299,137 EQUITY  Partners' equity — general partner interest— — Partners' equity — common units, 210,695 and 209,991 units outstanding at December 31, 2024 and 2023, respectively828,961 918,208 TOTAL EQUITY828,961 918,208 TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY$1,218,906 $1,266,884 

 The accompanying notes to consolidated financial statements are an integral part of these financial statements.

F-5

BLACK STONE MINERALS, L.P. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per unit amounts)

 Year Ended December 31, 202420232022REVENUE   Oil and condensate sales$269,061 $288,296 $336,287 Natural gas and natural gas liquids sales157,907 200,297 434,945 Lease bonus and other income12,461 12,506 13,052 Revenue from contracts with customers439,429 501,099 784,284 Gain (loss) on commodity derivative instruments(5,730)91,117 (120,680)TOTAL REVENUE433,699 592,216 663,604 OPERATING (INCOME) EXPENSE   Lease operating expense9,705 11,386 12,380 Production costs and ad valorem taxes49,577 56,979 66,233 Exploration expense2,735 2,148 193 Depreciation, depletion, and amortization45,196 45,683 47,804 General and administrative52,082 51,455 53,652 Accretion of asset retirement obligations1,298 1,042 861 (Gain) loss on sale of assets, net— (73)(17)TOTAL OPERATING EXPENSE160,593 168,620 181,106 INCOME (LOSS) FROM OPERATIONS273,106 423,596 482,498 OTHER INCOME (EXPENSE)   Interest and investment income1,666 1,867 53 Interest expense(3,109)(2