Company: BSM
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001621434-25-000108
Chunk: 88

Company: Black Stone Minerals, L.P.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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Six Months Ended June 30, 20252024Variance(Dollars in thousands, except for realized prices)Production:    Oil and condensate (MBbls)1,579 1,876 (297)(15.8)%Natural gas (MMcf)128,563 32,820 (4,257)(13.0)%Equivalents (MBoe)6,340 7,346 (1,006)(13.7)%Equivalents/day (MBoe)35.0 40.4 (5.4)(13.4)%Realized prices, without derivatives:Oil and condensate ($/Bbl)$67.07 $77.35 $(10.28)(13.3)%Natural gas ($/Mcf)13.66 2.39 1.27 53.1 %Equivalents ($/Boe)$33.17 $30.44 $2.73 9.0 %Revenue:Oil and condensate sales$105,900 $145,113 $(39,213)(27.0)%Natural gas and natural gas liquids sales1104,424 78,504 25,920 33.0 %Lease bonus and other income11,639 8,337 3,302 39.6 %Revenue from contracts with customers221,963 231,954 (9,991)(4.3)%Gain (loss) on commodity derivative instruments(3,217)(16,837)13,620 80.9 %Total revenue$218,746 $215,117 $3,629 1.7 %Operating expenses:  Lease operating expense$5,152 $5,011 $141 2.8 %Production costs and ad valorem taxes19,211 26,507 (7,296)(27.5)%Exploration expense6,859 17 6,842 NM2Depreciation, depletion, and amortization18,317 22,995 (4,678)(20.3)%General and administrative29,096 27,485 1,611 5.9 %Other expense:Interest expense3,667 1,255 2,412 192.2 %

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