Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 136

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 136
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2   Refers to our average ownership interest. Ownership interest is the percentage that our undivided ownership interest in a tract bears to the entire tract. The average ownership interests shown reflect the weighted averages of our ownership interests in all tracts in the resource play. Our weighted average royalty interest for all of our mineral interests is approximately 21%, which may be multiplied by our ownership interest to approximate the average net royalty interest for our mineral interests.

3   Refers to our average royalty interest. Average royalty interest is equal to the weighted-average percentage of production or revenues (before operating costs) that we are entitled to on a tract-by-tract basis in the resource play. NPRIs may be denominated as a “fractional royalty,” which entitles the owner to the stated fraction of gross production, or a “fraction of royalty,” where the stated fraction is multiplied by the lease royalty. In cases where our land documentation does not specify the form of NPRI, we have assumed a fractional royalty for purposes of the average royalty interests shown above.

 Mineral and Royalty InterestsWorking InterestsGross Well Count as of December 31, 20241Average Daily Production (Boe/d) for the Year Ended December 31,Average Daily Production (Boe/d) for the Year Ended December 31,Resource PlayMRI Wells2WI Wells202420232022202420232022Bakken/Three Forks4,377 326 3,282 3,507 3,458 306 361 377 Haynesville/Bossier1,492 140 18,476 18,360 16,867 876 1,108 1,504 Permian-Midland4,245 3 3,846 2,991 2,623 1 — — Permian-Delaware1,172 5 1,507 2,419 1,902 18 19 24 Eagle Ford1,092 27 936 1,084 1,122 7 8 8 

1   We own both mineral and royalty interests and working interests in 441 of the wells shown in each column above.

2   Refers to mineral and royalty interest wells.

Estimated Proved Reserves

Evaluation and Review of Estimated Proved Reserves

The reserves estimates as of December 31, 2024, 2023, and 2022 shown herein have been independently evaluated by Netherland