Black Stone Minerals Reports Q3 2021 Net Income of $16.2M and Adjusted EBITDA of $76.5M

Black Stone Minerals, L.P.

Mineral & royalty production of 33.0 MBoe/d in Q3 2021, total production 38.0 MBoe/d, up 2% from prior quarter.
Distributable cash flow of $70.2M for Q3; distribution of $0.25 per unit, coverage ratio 1.35x.
Total debt $99.0M at Sept 30, reduced to $86.0M by Oct 29; credit facility borrowing base reaffirmed at $400M.
2021 guidance updated: total production expected at or near high end of 34.5-37.0 MBoe/d range; LOE & production costs at low end.
Aethon Shelby Trough wells turned to sales; Austin Chalk agreements with multiple operators, one well producing, five drilling.

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