---
schema_version: "secwatch.filing_event.v1"
accession: "0001621434-25-000130"
form_type: "8-K"
ticker: "BSM"
cik: "0001621434"
company_name: "Black Stone Minerals, L.P."
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:38:20.671084+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Black Stone Q3 net income $91.7M; distribution $0.30/unit; CEO succession to co-CEOs in Jan 2026

## Summary
- Q3 net income $91.7M, Adjusted EBITDA $86.3M, distributable cash flow $76.8M; distribution $0.30/unit (1.21x coverage).
- Mineral/royalty production 34.7 MBoe/d (+5% QoQ); oil & gas revenue $100.2M (-2% QoQ); avg realized price $30.01/Boe.
- Credit facility amended, maturity extended to Oct 2030, borrowing base reaffirmed at $580M; debt reduced to $73M as of Oct 31.
- Tom Carter becomes Executive Chairman; Fowler Carter and Taylor DeWalch co-CEOs effective Jan 1, 2026; Chris Bonner promoted to SVP/CFO.
- Director Will Mathis resigned Oct 30 (not due to disagreement); Will Randall named Chair of Nominating & Governance Committee.

## SEC filing metadata
- accession: 0001621434-25-000130
- form_type: 8-K
- ticker: BSM
- cik: 0001621434
- company_name: Black Stone Minerals, L.P.
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1621434/000162143425000130/0001621434-25-000130-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1621434/000162143425000130/bsm-20251103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001621434-25-000130
- JSON: https://secwatch.observer/filing/0001621434-25-000130.json
- Plain text: https://secwatch.observer/filing/0001621434-25-000130.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.