Exhibit 10.1

Execution Copy

SECOND AMENDMENT
TO
FOURTH AMENDED AND RESTATED
CREDIT AGREEMENT
DATED AS OF OCTOBER 31, 2018
AMONG
BLACK STONE MINERALS COMPANY, L.P.,
AS BORROWER,
BLACK STONE MINERALS, L.P.,
AS PARENT MLP,
WELLS FARGO BANK, NATIONAL ASSOCIATION,
AS ADMINISTRATIVE AGENT,
AND
THE LENDERS PARTY HERETO

SOLE BOOK RUNNER AND SOLE LEAD ARRANGER
WELLS FARGO SECURITIES, LLC

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SECOND AMENDMENT TO FOURTH AMENDED
AND RESTATED CREDIT AGREEMENT

THIS SECOND AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT (this
“Second Amendment”) dated as of October 31, 2018, is among: BLACK STONE MINERALS
COMPANY, L.P., a Delaware limited partnership (the “Borrower”); BLACK STONE
MINERALS, L.P., a Delaware limited partnership (the “Parent MLP”); each of the
lenders party to the Credit Agreement referred to below (collectively, the
“Lenders”); and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent
for the Lenders (in such capacity, together with its successors in such
capacity, the “Administrative Agent”).
R E C I T A L S
A.     The Borrower, the Parent MLP, the Administrative Agent and the Lenders
are parties to that certain Fourth Amended and Restated Credit Agreement dated
as of November 1, 2017, amended by the First Amendment to Fourth Amended and
Restated Credit Agreement dated as of February 7, 2018 (as amended, modified or
supplemented to date, the “Credit Agreement”), pursuant to which the Lenders
have made certain credit available to and on behalf of the Borrower.
B.    The Borrower, the Parent MLP, the Administrative Agent and the Lenders
desire to amend the Credit Agreement to revise pricing and certain
Eurodollar-related provisions, incorporate certain Lender ERISA representations
and designate a new Borrowing Base as provided herein.
C.    Now, therefore, to induce the Administrative Agent and the Lenders to
enter into this Second Amendment and in consideration of the premises and the
mutual covenants herein contained, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
Section 1.Defined Terms. Each capitalized term used herein but not otherwise
defined herein has the meaning given such term in the Credit Agreement, as
amended by this Second Amendment. Unless otherwise indicated, all section
references in this Second Amendment refer to sections of the Credit Agreement.
Section 2.    Amendments to Credit Agreement.
2.1     Amendments to Section 1.02. Section 1.02 is hereby amended by deleting
the following definition in its entirety and replacing it with the following:
“Agreement” means this Fourth Amended and Restated Credit Agreement, as amended
by the First Amendment to Fourth Amended and Restated Credit Agreement dated as
of February 7, 2018 and the Second Amendment to Fourth Amended and Restated
Credit Agreement dated as of October 31, 2018, as the same may be amended or
supplemented from time to time.

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The table set forth in the definition of “Applicable Margin” in Section 1.02 is
hereby amended by deleting such table in its entirety and replacing it with the
following:
Aggregate Elected Commitment Utilization Grid
 
<25%
>25%
<50%
>50%
<75%
>75%
<90%
>90%
Eurodollar Margin
1.75%
2.00%
2.25%
2.50%
2.75%
Base Rate
Margin
0.75%
1.00%
1.25%
1.50%
1.75%

Section 1.02 is hereby amended by adding the following definition where
alphabetically appropriate to read as follows:
“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA)
that is subject to Title I of ERISA, (b) a “plan” as defined in and subject to
Section 4975 of the Code or (c) any Person whose assets include (for purposes of
ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section
4975 of the Code) the assets of any such “employee benefit plan” or “plan”.
The definition of “Eurodollar Rate” set forth in Section 1.02 is hereby amended
by
(a)    deleting the reference to “shall mean” in the first sentence thereof in
its entirety and replacing it with the following: “shall mean, subject to the
implementation of a Replacement Rate in accordance with Section 5.06,”,
(b)    deleting the reference to “the rate appearing on Reuters Screen LIBOR01
Page which displays an average ICE Benchmark Administration Interest Settlement
Rate” in the first sentence thereof in its entirety and replacing it with: “the
rate as published by the ICE Benchmark Administration Limited, a United Kingdom
company,”,
(c)    deleting the reference to “or any successor or substitute page of such
service,” in the first sentence thereof in its entirety, and
(d)    deleting the last sentence of such definition in its entirety and
replacing it with the following:
Notwithstanding the foregoing, (i) in no event shall the Eurodollar Rate be less
than zero percent (0%), and (ii) unless otherwise specified in any amendment to
this Agreement entered into in accordance with Section 5.06, in the event that a
Replacement Rate with respect to the Eurodollar Rate is implemented then all
references herein to “Eurodollar Rate” shall be deemed references to such
Replacement Rate.

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Section 1.02 is hereby amended by adding the following definitions where
alphabetically appropriate to read as follows:
“PTE” means a prohibited transaction class exemption issued by the U.S.
Department of Labor, as any such exemption may be amended from time to time.
“Replacement Rate” shall have the meaning assigned such term in Section 5.06.
2.2    Rates. Article I of the Credit Agreement is hereby amended by adding the
following new Section 1.05 at the end thereof to read as follows
Section 1.05. Rates. The Administrative Agent does not warrant or accept
responsibility for, and shall not have any liability with respect to, the
administration, submission or any other matter related to the rates in the
definition of “Eurodollar Rate”.
2.3    Limitation on Eurodollar Loans. Section 5.02 is hereby amended by
deleting the reference to “Anything herein to the contrary notwithstanding,” in
the first sentence thereof and replacing it with the following: “Anything herein
to the contrary notwithstanding, unless and until a Replacement Rate is
implemented in accordance with Section 5.06 below,”.
2.4    Alternate Rate of Interest. Article V of the Credit Agreement is hereby
amended by adding the following new Section 5.06 at the end thereof to read as
follows:
Section 5.06. Alternate Rate of Interest. Notwithstanding anything to the
contrary in Section 5.02 above, if the Administrative Agent has made the
determination (such determination to be conclusive absent manifest error) that
(i) the circumstances described in Section 5.02(a) have arisen and that such
circumstances are unlikely to be temporary, (ii) any applicable interest rate
specified herein is no longer a widely recognized benchmark rate for newly
originated loans in the U.S. syndicated loan market in the applicable currency
or (iii) the applicable supervisor or administrator (if any) of any applicable
interest rate specified herein or any Governmental Authority having or
purporting to have jurisdiction over the Administrative Agent has made a public
statement identifying a specific date after which any applicable interest rate
specified herein shall no longer be used for determining interest rates for
loans in the U.S. syndicated loan market in the applicable currency, then the
Administrative Agent may, to the extent practicable (in consultation with the
Borrower and as determined by the Administrative Agent to be generally in
accordance with similar situations in other transactions in which it is serving
as administrative agent or otherwise consistent with market practice generally),
establish a replacement interest rate (the “Replacement Rate”), in which case,
the Replacement Rate shall, subject to the next two sentences, replace such
applicable interest rate for all purposes under the Loan Documents unless and
until (A) an event described in Section 5.02(a) or clauses (i), (ii) or (iii)
above occurs with respect to the Replacement Rate or (B) the Administrative
Agent (or the Majority Lenders through the Administrative Agent) notifies the
Borrower that the Replacement Rate does not adequately and fairly reflect the
cost to the Lenders of funding the Loans bearing interest at the Replacement
Rate. In connection with the establishment and application of the Replacement
Rate, this Agreement and the other Loan Documents shall be amended

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solely with the consent of the Administrative Agent and the Borrower, as may be
necessary or appropriate, in the opinion of the Administrative Agent, to effect
the provisions of this Section 5.06. Notwithstanding anything to the contrary in
this Agreement or the other Loan Documents (including, without limitation,
Section 12.04), such amendment shall become effective without any further action
or consent of any other party to this Agreement so long as the Administrative
Agent shall not have received, within five (5) Business Days of the delivery of
such amendment to the Lenders, written notices from such Lenders that in the
aggregate constitute Majority Lenders, with each such notice stating that such
Lender objects to such amendment. To the extent the Replacement Rate is approved
by the Administrative Agent in connection with this Section 5.06, the
Replacement Rate shall be applied in a manner consistent with market practice;
provided that, in each case, to the extent such market practice is not
administratively feasible for the Administrative Agent, such Replacement Rate
shall be applied as otherwise reasonably determined by the Administrative Agent
(it being understood that any such modification by the Administrative Agent
shall not require the consent of, or consultation with, any of the Lenders).
2.5    Lender ERISA Representations. Article XI of the Credit Agreement is
hereby amended by adding the following new Section 11.11 at the end thereof to
read as follows:
Section 11.11. Certain ERISA Matters.

(a)    Each Lender (x) represents and warrants, as of the date such Person
became a Lender party hereto, and (y) covenants, from the date such Person
became a Lender party hereto to the date such Person ceases being a Lender party
hereto, for the benefit of the Administrative Agent, the Arrangers and their
respective Affiliates, and not, for the avoidance of doubt, to or for the
benefit of the Borrower or any Guarantor, that at least one of the following is
and will be true:

(i)    such Lender is not using “plan assets” (within the meaning of Section
3(42) of ERISA or otherwise) of one or more Benefit Plans in connection with the
Loans or the Commitments,

(ii)    the transaction exemption set forth in one or more PTEs, such as PTE
84-14 (a class exemption for certain transactions determined by independent
qualified professional asset managers), PTE 95-60 (a class exemption for certain
transactions involving insurance company general accounts), PTE 90-1 (a class
exemption for certain transactions involving insurance company pooled separate
accounts), PTE 91-38 (a class exemption for certain transactions involving bank
collective investment funds) or PTE 96-23 (a class exemption for certain
transactions determined by in-house asset managers), is applicable with respect
to such Lender’s entrance into, participation in, administration of and
performance of the Loans, the Commitments and this Agreement,
(iii)    (A) such Lender is an investment fund managed by a “Qualified
Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B)
such Qualified Professional Asset Manager made the investment decision on behalf

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of such Lender to enter into, participate in, administer and perform the Loans,
the Commitments and this Agreement, (C) the entrance into, participation in,
administration of and performance of the Loans, the Commitments and this
Agreement satisfies the requirements of sub-sections (b) through (g) of Part I
of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of
subsection (a) of Part I of PTE 84-14 are satisfied with respect to such
Lender’s entrance into, participation in, administration of and performance of
the Loans, the Commitments and this Agreement, or

(iv)    such other representation, warranty and covenant as may be agreed in
writing between the Administrative Agent, in its sole discretion, and such
Lender.

(b)    In addition, unless either (1) sub-clause (i) in the immediately
preceding clause (a) is true with respect to a Lender or (2) a Lender has
provided another representation, warranty and covenant in accordance with
sub-clause (iv) in the immediately preceding clause (a), such Lender further (x)
represents and warrants, as of the date such Person became a Lender party
hereto, and (y) covenants, from the date such Person became a Lender party
hereto to the date such Person ceases being a Lender party hereto, for the
benefit of the Administrative Agent, the Arrangers and their respective
Affiliates, and not, for the avoidance of doubt, to or for the benefit of the
Borrower or any Guarantor, that none of the Administrative Agent, the Arrangers
or any of their respective Affiliates is a fiduciary with respect to the assets
of such Lender involved in the Loans, the Commitments and this Agreement
(including in connection with the reservation or exercise of any rights by the
Administrative Agent under this Agreement or any documents related hereto).

2.6    Amendments. Section 12.04 is hereby amended by (a) deleting the reference
to “and (f)” in its entirety and replacing it with “, (f)” and (b) adding the
following new clauses (g) and (h) at the end thereof to read as follows:
, (g) the Administrative Agent and the Borrower shall be permitted to amend any
provision of the Loan Documents (and such amendment shall become effective
without any further action or consent of any other party to any Loan Document)
if the Administrative Agent and the Borrower shall have jointly identified an
obvious error or any error, ambiguity, defect or inconsistency or omission of a
technical or immaterial nature in any such provision, and (h) the Administrative
Agent and the Borrower may, without the consent of any Lender, enter into
amendments or modifications to this Agreement or any of the other Loan Documents
or to enter into additional Loan Documents as the Administrative Agent and the
Borrower reasonably deem appropriate in order to implement any Replacement Rate
or otherwise effectuate the terms of Section 5.06 in accordance with the terms
of Section 5.06, subject to Majority Lenders’ right to object thereto as
provided in such Section 5.06.
2.7    Maximum Credit Amounts; Elected Revolving Commitments. Annex I to the
Credit Agreement is hereby amended by deleting it in its entirety and replacing
it with Annex I attached hereto:

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Section 3.    Borrowing Base. All of the Lenders and the Borrower agree that,
from and after the Second Amendment Effective Date (as defined below) until the
next redetermination of the Borrowing Base, the amount of the Borrowing Base
shall be $675,000,000. This provision does not limit the right of the parties to
initiate interim redeterminations of the Borrowing Base in accordance with
Section 2.08(b) or further adjustments pursuant to Section 2.08(e) or (f),
Section 8.08, Section 9.02(i) or (j) or Section 9.13. This Section 3 of this
Amendment constitutes written notice of the redetermined Borrowing Base in
accordance with Section 2.08(d).
Section 4.    Conditions Precedent. This Second Amendment shall become effective
on the date (such date, the “Second Amendment Effective Date”), when each of the
following conditions is satisfied (or waived in accordance with Section 12.04):
4.1    The Administrative Agent shall have received from the Lenders, the Parent
MLP, and the Borrower, counterparts (in such number as may be requested by the
Administrative Agent) of this Second Amendment signed on behalf of such Person.
4.2    The Administrative Agent shall have received the Consent and Agreement
attached to this Second Amendment executed by the Guarantors (in such numbers as
may be requested by the Administrative Agent).
4.3    The Administrative Agent and the Lenders shall have received all fees and
other amounts due and payable on or prior to the date hereof, including, to the
extent invoiced, reimbursement or payment of all documented out-of-pocket
expenses required to be reimbursed or paid by the Borrower under the Credit
Agreement.
4.4    No Default or Event of Default shall have occurred and be continuing as
of the date hereof, immediately after giving effect to the terms of this Second
Amendment.
The Administrative Agent is hereby authorized and directed to declare this
Second Amendment to be effective when it has received documents confirming or
certifying, to the satisfaction of the Administrative Agent, compliance with the
conditions set forth in this Section 3 of this Amendment or the waiver of such
conditions as permitted in Section 12.04. Such declaration shall be final,
conclusive and binding upon all parties to the Credit Agreement for all
purposes.
Section 5.    Miscellaneous.
5.1    Confirmation. The provisions of the Credit Agreement, as amended and
waived by this Second Amendment, shall remain in full force and effect following
the effectiveness of this Second Amendment.
5.2    Ratification and Affirmation; Representations and Warranties. Each of the
Borrower and the Parent MLP hereby (a) ratifies and affirms its obligations
under, and acknowledges its continued liability under, each Loan Document to
which it is a party and agrees that each Loan Document to which it is a party
remains in full force and effect as expressly amended or waived

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hereby and (b) represents and warrants to the Lenders that as of the date
hereof, after giving effect to the terms of this Second Amendment:
(i)    all of the representations and warranties contained in each Loan Document
to which it is a party are true and correct in all material respects, except to
the extent any such representations and warranties are expressly limited to an
earlier date, in which case, such representations and warranties shall continue
to be true and correct as of such specified earlier date,
(ii)    no Default or Event of Default has occurred and is continuing, and
(iii)    no event or events have occurred which individually or in the aggregate
could reasonably be expected to have a Material Adverse Effect.
5.3    Counterparts. This Second Amendment may be executed by one or more of the
parties hereto in any number of separate counterparts, and all of such
counterparts taken together shall be deemed to constitute one and the same
instrument. Delivery of this Second Amendment by facsimile transmission shall be
effective as delivery of a manually executed counterpart hereof.
5.4    NO ORAL AGREEMENT. THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE
OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE
FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
5.5    GOVERNING LAW. THIS SECOND AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.
5.6    Payment of Expenses. In accordance with Section 12.03, the Borrower
agrees to pay or reimburse the Administrative Agent for all of its reasonable
out-of-pocket expenses incurred in connection with this Second Amendment, any
other documents prepared in connection herewith and the transactions
contemplated hereby, including, without limitation, the reasonable fees, charges
and disbursements of counsel to the Administrative Agent.
5.7    Severability. Any provision of this Second Amendment which is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.
5.8    Successors and Assigns. This Second Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns.

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5.9    Loan Document. This Second Amendment is a Loan Document.
[SIGNATURES BEGIN NEXT PAGE]

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IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be
duly executed as of the date first written above.

BLACK STONE MINERALS COMPANY, L.P., as Borrower

By: BSMC GP, L.L.C.,
    its General Partner

By: Black Stone Minerals, L.P.,
    its Sole Member

By: Black Stone Minerals GP, L.L.C.,
    its General Partner

By: /s/ Jeffrey P. Wood
Jeffrey P. Wood
President and Chief Financial Officer

BLACK STONE MINERALS, L.P., as Parent MLP

By: Black Stone Minerals GP, L.L.C.,
    its General Partner

By: /s/ Jeffrey P. Wood
Jeffrey P. Wood
President and Chief Financial Officer

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Administrative Agent, Issuing Bank and a Lender

By: /s/ Paul A. Squires            
Name: Paul A. Squires
Title:     Managing Director

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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BANK OF AMERICA, N.A.,
as a Lender

By: /s/ Raza Jafferi                
Name: Raza Jafferi
Title:     Director

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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COMPASS BANK,
as a Lender

By: /s/ Gabriela Azcarate            
Name: Gabriela Azcarate
Title:     Vice President

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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JPMORGAN CHASE BANK N.A.,
as a Lender

By: /s/ Theresa M. Benson            
Name: Theresa M. Benson
Title:     Authorized Officer

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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NATIXIS, NEW YORK BRANCH,
as a Lender

By: /s/ Kenyatta B. Gibbs            
Name: Kenyatta B. Gibbs
Title:     Director

By: /s/ Vikram Nath                
Name: Vikram Nath
Title:     Director

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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ZIONS BANCORPORATION, N.A., DBA AMEGY BANK, as a Lender

By: /s/ Sam Trail                
Name: Sam Trail
Title:     Senior Vice President

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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THE BANK OF NOVA SCOTIA,
HOUSTON BRANCH, as a Lender

By: /s/ Ryan Knape                
Name: Ryan Knape
Title:     Director

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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IBERIABANK,
as a Lender

By: /s/ W. Bryan Chapman            
Name: W. Bryan Chapman
Title: Market President Energy Lending

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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ABN AMRO CAPITAL USA LLC,
as a Lender

By: /s/ Darrell Holley                
Name: Darrell Holley
Title:     Managing Director

By: /s/ Michaela Braun            
Name: Michaela Braun
Title:     Director

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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COMERICA BANK,
as a Lender

By: /s/ Britney Geidel                
Name: Britney Geidel
Title:     Portfolio Manager

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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KEYBANK, NATIONAL ASSOCIATION,
as a Lender

By: /s/ David M. Bornstein            
Name: David M. Bornstein
Title:         Senior Vice President

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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TEXAS CAPITAL BANK, N.A.,
as a Lender

By: /s/ James E. Hibbert, Jr.            
Name: James E. Hibbert, Jr.
Title:     Assistant Vice President

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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BOKF, N.A. DBA BANK OF TEXAS.,
as a Lender

By: /s/ Taylor Morris                
Name: Taylor Morris
Title:     AVP – Energy Lending

SIGNATURE PAGE
SECOND AMENDMENT TO CREDIT AGREEMENT

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ANNEX I
LIST OF MAXIMUM CREDIT AMOUNTS AND ELECTED REVOLVING COMMITMENTS
Name of Lender
Percentage Share
Maximum Credit Amount
Elected Revolving Commitment
Wells Fargo Bank, National Association
18.333333334
%

$183,333,333.34

$123,750,000.00

Bank of America, N.A.
12.500000000
%

$125,000,000.00

$84,375,000.00

Compass Bank
12.500000000
%

$125,000,000.00

$84,375,000.00

JPMorgan Chase Bank, N.A.
10.000000000
%

$100,000,000.00

$67,500,000.00

Natixis, New York Branch
8.333333333
%

$83,333,333.33

$56,250,000.00

ZB Bank, N.A., dba Amegy Bank, National Association
6.666666667
%

$66,666,666.67

$45,000,000.00

The Bank of Nova Scotia, Houston Branch
6.666666667
%

$66,666,666.67

$45,000,000.00

IBERIABANK
5.000000000
%

$50,000,000.00

$33,750,000.00

ABN AMRO Capital USA LLC
5.000000000
%

$50,000,000.00

$33,750,000.00

Comerica Bank
5.000000000
%

$50,000,000.00

$33,750,000.00

KeyBank, National Association
3.333333333
%

$33,333,333.33

$22,500,000.00

Texas Capital Bank, N.A.
3.333333333
%

$33,333,333.33

$22,500,000.00

BOKF, NA dba Bank of Texas
3.333333333
%

$33,333,333.33

$22,500,000.00

TOTAL
100.000000000
%

$1,000,000,000.00

$675,000,000.00

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[Second Amendment]
CONSENT AND AGREEMENT
Each of the undersigned hereby (i) consents to the provisions of this Second
Amendment and the transactions contemplated herein, (ii) ratifies and confirms
the Fifth Amended and Restated Guaranty and Collateral Agreement dated as of
November 1, 2017, as amended, modified or supplemented to date, made by it for
the benefit of Administrative Agent and Lenders executed pursuant to the Credit
Agreement and the other Loan Documents, (iii) ratifies and confirms all other
Loan Documents made by it for the benefit of Administrative Agent and Lenders,
(iv) agrees that all of its respective obligations and covenants thereunder,
except as may be amended or modified hereby, shall remain unimpaired by the
execution and delivery of this Second Amendment and the other documents and
instruments executed in connection herewith, and (v) agrees that such Fifth
Amended and Restated Guaranty and such other Loan Documents shall remain in full
force and effect.

[SIGNATURES BEGIN NEXT PAGE]

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IN WITNESS WHEREOF, the parties hereto have caused this Consent and Agreement to
be duly executed as of the date first written above.

                BLACK STONE ENERGY COMPANY, L.L.C.
By:    Black Stone Minerals Company, L.P.,
its Sole Member

By:    BSMC GP, L.L.C.,
its General Partner

By:    Black Stone Minerals, L.P.,
its Sole Member

By:    Black Stone Minerals GP, L.L.C.,
its General Partner

By: /s/ Jeffrey P. Wood                    
Jeffrey P. Wood
President and Chief Financial Officer

BLACK STONE NATURAL RESOURCES, L.L.C.

By:    Black Stone Minerals Company, L.P.,
its Sole Member

By:    BSMC GP, L.L.C.,
its General Partner

By:    Black Stone Minerals, L.P.,
its Sole Member

By:    Black Stone Minerals GP, L.L.C.,
its General Partner

By: /s/ Jeffrey P. Wood                    
Jeffrey P. Wood
Senior Vice President and Chief Financial Officer

SIGNATURE PAGE
CONSENT TO SECOND AMENDMENT TO CREDIT AGREEMENT

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TLW INVESTMENTS, L.L.C.

By:    Black Stone Energy Company, L.L.C.,
its Manager

By:    Black Stone Minerals Company, L.P.,
its Sole Member

By:    BSMC GP, L.L.C.,
its General Partner

By:    Black Stone Minerals, L.P.,
its Sole Member

By:    Black Stone Minerals GP, L.L.C.,
its General Partner

By: /s/ Jeffrey P. Wood                    
Jeffrey P. Wood
Senior Vice President and Chief Financial Officer

BSAP II GP, L.L.C.

By:    Black Stone Minerals Company, L.P.,
its Sole Member

By:    BSMC GP, L.L.C.,
its General Partner

By:    Black Stone Minerals, L.P.,
its Sole Member

By:    Black Stone Minerals GP, L.L.C.,
its General Partner

By: /s/ Jeffrey P. Wood                    
Jeffrey P. Wood
Senior Vice President and Chief Financial Officer

SIGNATURE PAGE
CONSENT TO SECOND AMENDMENT TO CREDIT AGREEMENT

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BLACK STONE MINERALS, L.P.

By:    Black Stone Minerals GP, L.L.C.,
its General Partner

By: /s/ Jeffrey P. Wood                    
Jeffrey P. Wood
Senior Vice President and Chief Financial Officer

BSMC GP, L.L.C.

By:    Black Stone Minerals, L.P.,
its Sole Member

By:    Black Stone Minerals GP, L.L.C.,
its General Partner

By: /s/ Jeffrey P. Wood                    
Jeffrey P. Wood
Senior Vice President and Chief Financial Officer

NAMP HOLDINGS, LLC
NAMP GP, LLC

By: /s/ Jeffrey P. Wood                
Jeffrey P. Wood
Senior Vice President and Chief Financial Officer

NAMP 1, LP
NAMP 2, LP

By:    NAMP GP, LLC,
its General Partner

By: /s/ Jeffrey P. Wood                    
Jeffrey P. Wood
Senior Vice President and Chief Financial Officer

SIGNATURE PAGE
CONSENT TO SECOND AMENDMENT TO CREDIT AGREEMENT