Company: BSM
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001621434-25-000108
Chunk: 49

Company: Black Stone Minerals, L.P.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 increase was due to higher average outstanding borrowings under our Credit Facility. 

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024 

The following table shows our production, revenues, pricing, and expenses for the periods presented: 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,