Black Stone Minerals cuts distribution 21% to $0.375/unit, lowers 2024 production guidance

Black Stone Minerals, L.P.

Q1 2024 net income $63.9M, down from $147.6M in Q4 2023; Adjusted EBITDA $104.1M.
Distribution reduced to $0.375/unit from $0.475/unit, coverage 1.22x; payable May 17.
Total production guidance lowered to 38.5–40.5 MBoe/d from prior 40–42 MBoe/d.
Aethon invoked JEA time-out; curtailment of ~800 Boe/d and 10-well completion delay.
No debt outstanding; $89M cash as of May 3; $35.3M in mineral acquisitions since Q1.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Black Stone Minerals, L.P. reported first quarter of 2024 results: revenue $113.2 million, net income $63.9 million.

Period: first quarter of 2024
Revenue: $113.2 million
Net income: $63.9 million
Result: reported results

Exact text from the filing

is a decrease of 12% from $35.03 per Boe in the fourth quarter of 2023 and an 8% decrease from $33.47 in the first quarter of 2023. Black Stone reported oil and gas revenue of $113.2 million (63% oil and condensate) for the first quarter of 2024, a decrease of 15% from $132.6 million in the fourth quarter of 2023. Oil and gas revenue in the first quarter of 2023 was

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Source: SEC EDGAR

accession 0001628280-24-020794

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