Black Stone Minerals Reports First-Quarter 2025 Results

Black Stone Minerals LP ( (BSM) ) has released its Q1 earnings. Here is a breakdown of the information Black Stone Minerals LP presented to its investors.

Black Stone Minerals, L.P. is one of the largest owners of oil and natural gas mineral interests in the United States, with a diversified asset base that provides stable production and reserves over time.

In its first-quarter report for 2025, Black Stone Minerals announced a net income of $15.9 million and an adjusted EBITDA of $82.2 million. The company maintained a quarterly distribution of $0.375 per unit, despite a lower distribution coverage ratio of 0.93x, attributed to strategic expenditures.

Key financial metrics showed a decline in total production to 35.5 MBoe/d, with a notable decrease in working-interest volumes. Oil and gas revenue increased by 6% from the previous quarter, while the company faced a significant loss on commodity derivative instruments amounting to $56.0 million. The company also reported a strategic acquisition of $14.2 million in mineral and royalty interests, further expanding its portfolio.

Looking ahead, Black Stone Minerals remains focused on its growth strategy, emphasizing mineral acquisitions and development activities in high-interest areas like the Shelby Trough and Permian Basin. The management is optimistic about benefiting from near-term development activities and maintaining its financial stability amidst market volatility.