Company: BSM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001621434-25-000133
Chunk: 15

Company: Black Stone Minerals, L.P.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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Item 1. Condensed Financial Statements 

BLACK STONE MINERALS, L.P. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS 

(Unaudited)

(In thousands) September 30, 2025December 31, 2024ASSETS  CURRENT ASSETS  Cash and cash equivalents$2,864 $2,519 Restricted cash3,304 — Accrued revenue and accounts receivable64,367 71,093 Commodity derivative assets, net8,507 1,824 Prepaid expenses and other current assets6,131 3,108 TOTAL CURRENT ASSETS85,173 78,544 PROPERTY AND EQUIPMENT  Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $1,035,486 and $973,028 at September 30, 2025 and December 31, 2024, respectively3,174,675 3,105,457 Accumulated depletion and impairment(1,999,325)(1,973,460)Oil and natural gas properties, net1,175,350 1,131,997 Other property and equipment, net of accumulated depreciation of $15,502 and $14,551 at September 30, 2025 and December 31, 2024, respectively1,255 2,044 NET PROPERTY AND EQUIPMENT1,176,605 1,134,041 DEFERRED CHARGES AND OTHER LONG-TERM ASSETS8,602 6,321 TOTAL ASSETS$1,270,380 $1,218,906 LIABILITIES, MEZZANINE EQUITY, AND EQUITY CURRENT LIABILITIES Accounts payable$2,627 $5,946 Accrued liabilities13,898 17,242 Commodity derivative liabilities, net122 3,852 Other current liabilities2,853 3,383 TOTAL CURRENT LIABILITIES19,500 30,423 LONG–TERM LIABILITIES Credit facility95,000 25,000 Accrued incentive compensation864 1,234 Commodity derivative liabilities, net4,971 11,581 Asset retirement obligations19,950 19,286 Other long-term liabilities4,882 1,943 TOTAL LIABILITIES145,167 89,467 COM