Promotions and Leadership Confidence
Tom Carter announced upcoming promotions for Fowler Carter, Taylor DeWalch, and Chris Bonner, expressing confidence in their leadership and the future success of Black Stone Minerals.
Haynesville Expansion and Development
The company continues to pursue acquisitions and development agreements in the Haynesville region, with expectations to drive over 50 wells drilled per year in the expanded Shelby Trough.
Increased Production and Strong Financials
Mineral and royalty production increased by 5% over the prior quarter, with net income of $91.7 million and adjusted EBITDA of $86.3 million. Distributable cash flow was $76.8 million, representing 1.21x coverage for the period.
Constructive Outlook for Natural Gas
With increasing demand from LNG and power, the outlook for natural gas is positive, and Black Stone is well-positioned to benefit from this trend due to its proximity to LNG facilities.