Black Stone Minerals Q1: net loss $7.0M, distribution raised 48% to $0.40/unit

Black Stone Minerals, L.P.

Adjusted EBITDA $98.8M (+27% QoQ); distributable cash flow $92.6M (+30% QoQ).
Mineral/royalty production 29.6 MBoe/d (-16% QoQ); total production 32.9 MBoe/d.
Distribution $0.40/unit (+48% vs Q4 2021), coverage 1.1x; payable May 20, record May 13.
Net loss $7.0M vs Q4 net income $134.2M, due to $120M derivative loss ($88.8M unrealized).
Debt reduced to $44.0M post-quarter; $400M borrowing base reaffirmed.

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