Company: BSM
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022559
Chunk: 24

Company: Black Stone Minerals, L.P.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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6,894 $(3,042)$3,852 Long-term liabilityCommodity derivative liabilities, net12,349 (768)11,581 Total liabilities $19,243 $(3,810)$15,433 

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BLACK STONE MINERALS, L.P. AND SUBSIDIARIESNOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Changes in the fair values of the Partnership’s derivative instruments (both assets and liabilities) are presented on a net basis in the accompanying consolidated statements of operations and consolidated statements of cash flows and consist of the following for the periods presented: Three Months Ended March 31,Derivatives not designated as hedging instruments20252024(in thousands)Beginning fair value of commodity derivative instruments$(13,609)$37,335 Gain (loss) on oil derivative instruments(814)(23,230)Gain (loss) on natural gas derivative instruments(55,187)11,940 Net cash paid (received) on settlements of oil derivative instruments383 (121)Net cash paid (received) on settlements of natural gas derivative instruments3,228 (13,676)Net change in fair value of commodity derivative instruments(52,390)(25,087)Ending fair value of commodity derivative instruments$(65,999)$12,248 The Partnership had the following open derivative contracts for oil as of March 31, 2025: Weighted Average Price (Per Bbl)Range (Per Bbl)Period and Type of ContractVolume (Bbl)LowHighOil Swap Contracts:    2025    First Quarter185,000 $71.22 $70.02 $73.15 Second Quarter555,000 71.22 70.02 73.15 Third Quarter555,000 71.22 70.02 73.15 Fourth Quarter555,000 71.22 70.02 73.15 2026First Quarter360,000 $64.82 $63.00 $67.35 Second Quarter360,000 64.82 63.00 67.35 Third Quarter360,000 64.82 63.00 67.35 Fourth Quarter360,000 64.82 63.00 67.35 

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BLACK STONE MINERALS, L.P. AND