Black Stone Minerals reports Q3 EPS 41c, consensus 35c

Reports Q3 revenue $134.86M, consensus $117.67M. Thomas L. Carter, Jr., Black Stone Minerals (BSM)’ Chairman, CEO and President, commented, “We are pleased to announce another successful quarter with our distribution remaining consistent at 37.5c, despite headwinds from the volatile commodity environment. During the quarter, we continued to advance our active, targeted mineral acquisition program. In addition, we took a lease on acreage that we expect to provide a solid foundation for long-term development activity. We also amended our existing joint exploration agreements with Aethon, which provide comfort on the pace of future drilling plans and release acreage back to Black Stone for other opportunities. We continue to focus on our organic growth strategy across all our assets and to pursue opportunities to partner with operators and promote development on our acreage.”