Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 52

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 9B
Chunk 52
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Total$868,087 $1,019,510 $1,665,011 The following summarizes the principal sources of change in the standardized measure of discounted future net cash flows: Year Ended December 31, 202420232022 (in thousands)Standardized measure, beginning of year$1,019,510 $1,665,011 $972,122 Sales, net of production costs(367,686)(420,228)(692,629)Net changes in prices and production costs related to future production(51,740)(649,695)773,189 Extensions, discoveries and improved recovery, net of future production and development costs174,145 295,413 476,342 Previously estimated development costs incurred during the period— — 854 Revisions of estimated future development costs(123)(4,221)(1,986)Revisions of previous quantity estimates, net of related costs(65,903)(78,139)68,270 Accretion of discount102,292 167,064 97,553 Purchases of reserves in place, less related costs572 — — Sales of reserves in place(5,194)— — Changes in timing and other62,214 44,305 (28,704)Net increase (decrease) in standardized measures(151,423)(645,501)692,889 Standardized measure, end of year$868,087 $1,019,510 $1,665,011 The data presented should not be viewed as representing the expected cash flow from, or current value of, existing proved reserves since the computations are based on a significant amount of estimates and assumptions. The required projection of production and related expenditures over time requires further estimates with respect to pipeline availability, rates of demand and governmental control. Actual future prices and costs are likely to be substantially different from historical prices and costs utilized in the computation of reported amounts. Any analysis or evaluation of the reported amounts should give specific recognition to the computational methods utilized and the limitations inherent therein.

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