---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-007505"
form_type: "8-K"
ticker: "BSM"
cik: "0001621434"
company_name: "Black Stone Minerals, L.P."
filed_at: "2025-02-25T23:59:59+00:00"
generated_at: "2026-05-26T04:46:56.815893+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Black Stone Minerals Q4 net income falls to $46.3M; 2025 production guidance 38-41 MBoe/d

## Summary
- Q4 net income $46.3M vs $147.6M in Q4 2023; Adjusted EBITDA $90.1M vs $125.5M.
- Total Q4 production 36.1 MBoe/d, down 12% YoY; mineral & royalty 34.8 MBoe/d.
- Distribution maintained at $0.375/unit (1.03x coverage); full-year distributions $1.50/unit.
- 2025 guidance: total production 38-41 MBoe/d, 2% growth; 96% royalty interest; G&A $57-60M.
- Acquired $45.2M mineral interests in Q4; proved reserves down 11% to 57.4 MMBoe.

## SEC filing metadata
- accession: 0001628280-25-007505
- form_type: 8-K
- ticker: BSM
- cik: 0001621434
- company_name: Black Stone Minerals, L.P.
- filed_at: 2025-02-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1621434/000162828025007505/0001628280-25-007505-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1621434/000162828025007505/bsm-20250224.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-007505
- JSON: https://secwatch.observer/filing/0001628280-25-007505.json
- Plain text: https://secwatch.observer/filing/0001628280-25-007505.txt

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