Company: BSM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001621434-25-000133
Chunk: 20

Company: Black Stone Minerals, L.P.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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1,840)Purchases of other property and equipment(162)(314)Proceeds from the sale of oil and natural gas properties400 2,795 NET CASH USED IN INVESTING ACTIVITIES(63,391)(64,227)CASH FLOWS FROM FINANCING ACTIVITIES  Distributions to common unitholders(222,096)(257,921)Distributions to Series B cumulative convertible preferred unitholders(22,099)(20,759)Repurchases of common units(3,755)(4,449)Borrowings under credit facility251,000 33,000 Repayments under credit facility(181,000)(33,000)Debt issuance costs and other(77)(50)NET CASH USED IN FINANCING ACTIVITIES(178,027)(283,179)NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH3,649 (49,319)CASH, CASH EQUIVALENTS AND RESTRICTED CASH – beginning of the period2,519 70,282 CASH, CASH EQUIVALENTS AND RESTRICTED CASH – end of the period$6,168 $20,963 SUPPLEMENTAL DISCLOSURE  Interest paid$5,123 $1,180 Common units issued for property acquisitions$7,417 $1,039 

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

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