Company: BSM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001621434-25-000133
Chunk: 17

Company: Black Stone Minerals, L.P.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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344 324 1,013 962 TOTAL OPERATING EXPENSE38,370 41,736 117,674 124,389 INCOME FROM OPERATIONS94,100 93,120 233,542 225,584 OTHER INCOME (EXPENSE) Interest and investment income62 344 182 1,476 Interest expense(2,426)(724)(6,093)(1,979)Other income (expense)(7)(9)74 (101)TOTAL OTHER EXPENSE(2,371)(389)(5,837)(604)NET INCOME91,729 92,731 227,705 224,980 Distributions on Series B cumulative convertible preferred units(7,366)(7,366)(22,099)(22,099)NET INCOME ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON UNITS$84,363 $85,365 $205,606 $202,881 ALLOCATION OF NET INCOME:   General partner interest$— $— $— $— Common units84,363 85,365 205,606 202,881  $84,363 $85,365 $205,606 $202,881 NET INCOME ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON UNIT:  Per common unit (basic)$0.40 $0.41 $0.97 $0.96 Per common unit (diluted)$0.40 $0.41 $0.97 $0.96 WEIGHTED AVERAGE COMMON UNITS OUTSTANDING:Weighted average common units outstanding (basic)211,852 210,687 211,600 210,680 Weighted average common units outstanding (diluted)211,852 210,687 211,600 210,680 

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

2

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

Common unitsPartners' equityBALANCE AT DECEMBER 31, 2024210,695 $828,961 Repurchases of common units(221)(3,289)Issuance of common units for property acquisitions256 3,905 Restricted units granted, net of forfe