Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 142

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 142
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 History

For the year ended December 31, 2024, 26% of our production and 63% of our oil and natural gas revenues were related to oil and condensate production and sales, respectively. During the same period, natural gas and NGLs were 74% of our production and 37% of our oil and natural gas revenues.

The following table sets forth information regarding production of oil and natural gas and certain price and cost information for each of the periods indicated: Year Ended December 31, 202420232022Production:   Oil and condensate (MBbls)3,606 3,757 3,591 Natural gas (MMcf)162,984 64,647 59,778 Total (MBoe)14,103 14,532 13,554 Average daily production (MBoe/d)38.5 39.8 37.1 Realized Prices without Derivatives:   Oil and condensate (per Bbl)$74.61 $76.74 $93.65 Natural gas and natural gas liquids sales (per Mcf)1$2.51 $3.10 $7.28 Unit Cost per Boe:  Production costs and ad valorem taxes$3.52 $3.92 $4.89 

1   As a mineral and royalty interest owner, we are often provided insufficient and inconsistent data 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 gas revenue and our calculation of realized prices for natural gas.

Productive Wells

Productive wells consist of producing wells, wells capable of production, and exploratory, development, or extension wells that are not dry wells. 

The following table sets forth information about our mineral and royalty interest and working interest wells: Productive Wells as of December 31, 20241 Mineral and Royalty InterestsWorking InterestsWell TypeGrossGrossNetOil42,081 1,828 54 Natural Gas28,615 1,337 128 Total70,696 3,165 182 

1   We own both mineral and royalty interests and working interests in 1,