Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 206

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 206
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,984 64,647 (1,663)(2.6)%Equivalents (MBoe)14,103 14,532 (429)(3.0)%Equivalents/day (MBoe)38.5 39.8 (1.3)(3.3)%Realized prices, without derivatives:    Oil and condensate ($/Bbl)$74.61 $76.74 $(2.13)(2.8)%Natural gas ($/Mcf)12.51 3.10 (0.59)(19.0)%Equivalents ($/Boe)$30.27 $33.62 $(3.35)(10.0)%Revenue:    Oil and condensate sales$269,061 $288,296 $(19,235)(6.7)%Natural gas and natural gas liquids sales1157,907 200,297 (42,390)(21.2)%Lease bonus and other income12,461 12,506 (45)(0.4)%Revenue from contracts with customers439,429 501,099 (61,670)(12.3)%Gain (loss) on commodity derivative instruments(5,730)91,117 (96,847)(106.3)%Total revenue$433,699 $592,216 $(158,517)(26.8)%Operating expenses:    Lease operating expense$9,705 $11,386 $(1,681)(14.8)%Production costs and ad valorem taxes49,577 56,979 (7,402)(13.0)%Exploration expense2,735 2,148 587 27.3 %Depreciation, depletion, and amortization45,196 45,683 (487)(1.1)%General and administrative52,082 51,455 627 1.2 %Other expense:Interest expense$3,109 $2,754 $355 12.9 %

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 natural gas on our acreage. Accordingly, no NGL volumes are included in our reported production; however, revenue attributable to NGLs is included in our natural