Company: BSM
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022559
Chunk: 58

Company: Black Stone Minerals, L.P.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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 counterparties as deemed appropriate. This evaluation includes reviewing a counterparty’s credit rating and latest financial information. As of March 31, 2025, the Partnership had seven counterparties that also serve as lenders under the Credit Facility. 

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

The tables below summarize the fair values and classifications of the Partnership’s derivative instruments, as well as the gross recognized derivative assets, liabilities, and amounts offset in the consolidated balance sheets as of each date:March 31, 2025ClassificationBalance Sheet LocationGrossFair ValueEffect of Counterparty NettingNet Carrying Value on Balance Sheet  (in thousands)Assets:    Current assetCommodity derivative assets, net$4,316 $(3,752)$564 Long-term assetDeferred charges and other long-term assets529 (515)14  Total assets $4,845 $(4,267)$578 Liabilities:    Current liabilityCommodity derivative liabilities, net$50,037 $(3,752)$46,285 Long-term liabilityCommodity derivative liabilities, net20,807 (515)20,292 Total liabilities $70,844 $(4,267)$66,577 December 31, 2024ClassificationBalance Sheet LocationGrossFair ValueEffect of Counterparty NettingNet Carrying Value on Balance Sheet  (in thousands)Assets:    Current assetCommodity derivative assets, net$4,866 $(3,042)$1,824 Long-term assetDeferred charges and other long-term assets768 (768)—  Total assets $5,634 $(3,810)$1,824 Liabilities:    Current liabilityCommodity derivative liabilities, net$6,894 $(3,042)$3,852 Long-term liabilityCommodity derivative liabilities, net12,349 (768)11,581 Total liabilities $19,243 $(3,810)$15,433 

8

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