secwatch.observer — SEC 8-K summary
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Issuer:     Black Stone Minerals, L.P. (BSM)
CIK:        0001621434
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001628280-24-020794
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621434/000162828024020794/0001628280-24-020794-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621434/000162828024020794/bsm-20240506.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-020794

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