Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 141

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 141
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 table summarizes our changes in PUDs during the year ended December 31, 2024 (in MBoe): Estimated Proved Undeveloped Reserves (Unaudited)As of December 31, 20237,373 Acquisitions of reserves— Divestiture of reserves— Extensions and discoveries2,893 Revisions of previous estimates(201)Transfers to estimated proved developed(6,968)As of December 31, 20243,097 

New PUD reserves totaling 2,893 MBoe were added during the year ended December 31, 2024, resulting from development activities in the Haynesville/Bossier play. In 2024 we did not acquire or divest any PUD reserves. 

During the year ended December 31, 2024, PUD revisions accounted for a 201 MBoe reduction in reserves and 6,968 MBoe of PUD reserves were converted to proved developed reserves.

During the year ended December 31, 2024, no costs were incurred relating to the development of locations that were classified as PUDs as of December 31, 2023. The PUDs that were developed during 2024 were primarily Haynesville/Bossier PUDs in which our working interest was farmed out. Additionally, during the year ended December 31, 2024, we incurred $0.8 million drilling, completing, and recompleting other wells that were not classified as PUDs as of December 31, 2023. There are no estimated future development costs projected for the development of PUD reserves associated with our working interests as of December 31, 2024. All our PUD drilling locations as of December 31, 2024 are scheduled to be drilled within five years from the date the reserves were initially booked as proved undeveloped reserves.

We generally do not have evidence of approval of our operators’ development plans. As a result, our proved undeveloped reserve estimates are limited to those relatively few locations for which we have development agreements in place or have received  evidence of capital commitment. As of December 31, 2024, our PUD reserves consists of 11 wells in various stages of drilling or completions. As of December 31, 2024, approximately 5% of our total proved reserves were classified as PUDs.

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Oil and Natural Gas Production Prices and Production Costs

Production and Price