secwatch.observer — SEC 8-K summary
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Issuer:     Black Stone Minerals, L.P. (BSM)
CIK:        0001621434
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001621434-25-000130
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621434/000162143425000130/0001621434-25-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621434/000162143425000130/bsm-20251103.htm
  HTML page:      https://secwatch.observer/filing/0001621434-25-000130

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer