---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-014692"
form_type: "8-K"
ticker: "BSM"
cik: "0001621434"
company_name: "Black Stone Minerals, L.P."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:36:19.750838+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Black Stone Minerals Q1 net income $134.4M; distribution $0.475/unit, up 19% YoY

## Summary
- Mineral & royalty production 36.8 MBoe/d, down 8% QoQ; total production 39.3 MBoe/d.
- Adjusted EBITDA $109.9M, down 17% from Q4 2022; distributable cash flow $104.1M.
- Zero total debt; $66M cash as of Apr 28; borrowing base reaffirmed at $550M.
- Distribution of $0.475/unit declared, 19% increase vs Q1 2022; coverage 1.04x.
- 78 rigs operating at quarter end (down from 108); Aethon Shelby Trough wells progressing.

## SEC filing metadata
- accession: 0001628280-23-014692
- form_type: 8-K
- ticker: BSM
- cik: 0001621434
- company_name: Black Stone Minerals, L.P.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1621434/000162828023014692/0001628280-23-014692-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1621434/000162828023014692/bsm-20230501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-014692
- JSON: https://secwatch.observer/filing/0001628280-23-014692.json
- Plain text: https://secwatch.observer/filing/0001628280-23-014692.txt

## Key facts
- Earnings Releases
  Black Stone Minerals, L.P. reported first quarter of 2023 results: revenue $118.3 million, net income $134.4 million.
  - Period: first quarter of 2023
  - Revenue: $118.3 million
  - Net income: $134.4 million
  - Result: reported results
  source text: of 34% from $50.66 per Boe from the fourth quarter of 2022 and a 35% decrease compared to $51.25 for the first quarter of 2022. Black Stone reported oil and gas revenue of $118.3 million (51% oil and condensate) for the first quarter of 2023, a decrease of 40% from $196.2 million in the fourth quarter of 2022. Oil and gas revenue in the first quarter of 2022 was
  evidence_url: https://www.sec.gov/Archives/edgar/data/1621434/000162828023014692/0001628280-23-014692-index.htm

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