Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 17

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 9B
Chunk 17
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326 BALANCE AT DECEMBER 31, 2024210,695 $828,961 

The accompanying notes to consolidated financial statements are an integral part of these financial statements.

F-7

BLACK STONE MINERALS, L.P. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)

 Year Ended December 31, 202420232022CASH FLOWS FROM OPERATING ACTIVITIES   Net income (loss)$271,326 $422,549 $476,480 Adjustments to reconcile net income (loss) to net cash provided by operating activities:   Depreciation, depletion, and amortization45,196 45,683 47,804 Accretion of asset retirement obligations1,298 1,042 861 Amortization of deferred charges1,079 1,039 1,954 (Gain) loss on commodity derivative instruments5,730 (91,117)120,680 Net cash (paid) received on settlement of commodity derivative instruments45,214 82,723 (203,166)Equity-based compensation8,564 10,829 17,388 (Gain) loss on sale of assets, net— (73)(17)Changes in operating assets and liabilities: Accounts receivable11,244 53,053 (39,513)Prepaid expenses and other current assets(789)(414)51 Accounts payable, accrued liabilities, and other1,042 (3,827)3,012 Settlement of asset retirement obligations(861)(236)(551)NET CASH PROVIDED BY OPERATING ACTIVITIES389,043 521,251 424,983 CASH FLOWS FROM INVESTING ACTIVITIES   Acquisitions of oil and natural gas properties(109,393)(14,605)(149)Additions to oil and natural gas properties(790)(4,213)(11,894)Additions to oil and natural gas properties leasehold costs(3,423)(545)(32)Purchases of other property and equipment(1,425)(450)(488)Proceeds from the sale of oil and natural gas properties2,795 73 17 Proceeds from farmouts of oil and natural gas properties— — 11,331 NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES(112,236)(