Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 18

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 9B
Chunk 18
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19,740)(1,215)CASH FLOWS FROM FINANCING ACTIVITIES   Distributions to common unitholders(336,931)(398,824)(322,403)Distributions to Series B cumulative convertible preferred unitholders(28,126)(21,000)(21,000)Repurchases of common units(4,449)(5,496)(2,991)Borrowings under credit facility97,000 64,000 339,000 Repayments under credit facility(72,000)(74,000)(418,000)Debt issuance costs and other(64)(216)(2,943)NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES(344,570)(435,536)(428,337)NET CHANGE IN CASH AND CASH EQUIVALENTS(67,763)65,975 (4,569)Cash and cash equivalents — beginning of the year70,282 4,307 8,876 Cash and cash equivalents — end of the year$2,519 $70,282 $4,307 SUPPLEMENTAL DISCLOSURE   Interest paid$1,961 $1,736 $4,332 

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

F-8

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

 NOTE 1 — BUSINESS AND BASIS OF PRESENTATION

Description of the Business Black Stone Minerals, L.P. (“BSM” or the “Partnership”) is a publicly traded Delaware limited partnership that owns oil and natural gas mineral interests, which make up the vast majority of the asset base. The Partnership's assets also include nonparticipating royalty interests and overriding royalty interests. These interests, which are substantially non-cost-bearing, are collectively referred to as “mineral and royalty interests.” The Partnership’s mineral and royalty interests are located in 41 states in the continental United States ("U.S."), including all of the major onshore producing basins. The Partnership also owns non-operated working interests in certain oil and natural gas properties. The Partnership's common units trade on the New York Stock Exchange under the symbol "BSM."Basis of PresentationThe accompanying audited consolidated financial statements of the Partnership have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the U.S