Company: BSM
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001621434-25-000108
Chunk: 17

Company: Black Stone Minerals, L.P.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 17
---
 OPERATING EXPENSE37,213 41,134 79,304 82,653 INCOME FROM OPERATIONS122,281 68,490 139,442 132,464 OTHER INCOME (EXPENSE) Interest and investment income56 462 120 1,132 Interest expense(2,270)(626)(3,667)(1,255)Other income (expense)(39)(4)81 (92)TOTAL OTHER EXPENSE(2,253)(168)(3,466)(215)NET INCOME120,028 68,322 135,976 132,249 Distributions on Series B cumulative convertible preferred units(7,367)(7,366)(14,733)(14,733)NET INCOME ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON UNITS$112,661 $60,956 $121,243 $117,516 ALLOCATION OF NET INCOME:   General partner interest$— $— $— $— Common units112,661 60,956 121,243 117,516  $112,661 $60,956 $121,243 $117,516 NET INCOME ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON UNIT:  Per common unit (basic)$0.53 $0.29 $0.57 $0.56 Per common unit (diluted)$0.53 $0.29 $0.57 $0.56 WEIGHTED AVERAGE COMMON UNITS OUTSTANDING:Weighted average common units outstanding (basic)211,689 210,703 211,472 210,679 Weighted average common units outstanding (diluted)226,761 210,703 211,472 210,679 

 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 forfeitures900 — Equity–based compensation—