Black Stone Minerals LP ( (BSM) ) has released its Q3 earnings. Here is a breakdown of the information Black Stone Minerals LP presented to its investors.
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Black Stone Minerals, L.P. is a leading owner of oil and natural gas mineral interests in the United States, focusing on managing and expanding its diversified asset base across 41 states. In the third quarter of 2024, Black Stone Minerals reported notable financial results, with net income reaching $92.7 million and an adjusted EBITDA of $86.4 million. The company’s production totaled 37.4 MBoe/d, primarily driven by mineral and royalty volumes. Despite a challenging commodity price environment, Black Stone maintained a distribution of $0.375 per unit, supported by a robust balance sheet with zero debt and $42.8 million in cash. Key financial metrics for Black Stone Minerals in the third quarter of 2024 included a distributable cash flow of $78.6 million and a reported oil and gas revenue of $101 million. The company also recorded a significant gain of $31.7 million from commodity derivative instruments. Strategic activities included amending joint exploration agreements with Aethon and expanding the mineral portfolio with acquisitions worth $14.7 million. Looking ahead, Black Stone Minerals aims to continue its growth strategy by securing drilling commitments and acquiring mineral interests, particularly in the Gulf Coast region, while maintaining its focus on organic growth and partnerships to enhance development on its acreage.
