BSM Filings — Black Stone Minerals, L.p. - FilingSpy
BSM
Black Stone Minerals, L.p.
A Houston-based partnership that owns oil and gas mineral and royalty interests, mostly across Texas and Louisiana, collecting payments from energy producers who drill on land it controls rather than operating wells itself. Black Stone Minerals traces its roots to the Liedtke family's oil dealings in Texas, and its name nods to the black stone that marks mineral boundaries in the Lone Star State's surveying tradition. It offers investors a way to own a slice of America's oil and gas royalties without ever touching a drill bit.
Black Stone Minerals reports Q2 2026 net income of $106.4 million and raises distribution to $0.32 per unit.
Distributable cash flow for Q2 2026 was $80.4 million, compared to $76.5 million in Q1 2026 and $76.2 million in Q2 2025.
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Net income for Q2 2026 was $106.4 million, compared to $13.3 million in Q1 2026 and $120.0 million in Q2 2025.
Adjusted EBITDA for Q2 2026 was $91.3 million, up from $87.0 million in Q1 2026 and $85.6 million in Q2 2025.
The Board approved a cash distribution of $0.32 per common unit attributable to Q2 2026, a 7% increase over the prior quarter, with a coverage ratio of approximately 1.18x.
Total debt was $196.0 million as of June 30, 2026, and $168.0 million as of July 31, 2026, with $1.9 million cash on hand.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Black Stone Minerals appoints Anne Hamman to Board and Audit Committee, effective February 4, 2026.
She will also serve as a member of the Audit Committee of the General Partner.
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Anne Hamman was appointed to the Board of Directors of Black Stone Minerals GP, L.L.C., the general partner, effective February 4, 2026.
No arrangements or understandings with any other person led to her appointment.
No family relationships with other directors or executive officers, and no reportable transactions under Item 404(a) in the last fiscal year.
She will receive standard non-employee director compensation as described in the Proxy Statement filed April 30, 2025.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Black Stone Minerals reports Q3 2025 net income of $91.7 million and announces leadership succession.
Mineral and royalty production for Q3 2025 was 34.7 MBoe/d, up 5% from the prior quarter; total production was 36.3 MBoe/d.
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Net income for Q3 2025 was $91.7 million, with Adjusted EBITDA of $86.3 million and distributable cash flow of $76.8 million.
The Partnership declared a distribution of $0.30 per unit for Q3 2025, with coverage of 1.21x, payable November 13, 2025.
Total debt was $95.0 million at quarter-end, reduced to $73.0 million as of October 31, 2025; credit facility maturity extended to October 31, 2030.
Leadership succession effective January 1, 2026: Tom Carter becomes Executive Chairman; Fowler Carter and Taylor DeWalch become co-CEOs; Chris Bonner promoted to CFO.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits