{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-022331","form_type":"8-K","ticker":"BSM","cik":"0001621434","company_name":"Black Stone Minerals, L.P.","filed_at":"2025-05-06T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.082351+00:00","generated_at":"2026-05-22T12:12:34.823601+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Black Stone Minerals Q1 net income $15.9M, down 75% YoY; distribution held at $0.375/unit","bullets":["Net income of $15.9M vs $63.9M in Q1 2024 (down 75%); Adjusted EBITDA $82.2M vs $104.1M.","Revenue $108.3M, up 6% QoQ but down 4% YoY; average realized price $33.94/Boe (+10% YoY).","Production 35.5 MBoe/d (96% mineral/royalty), down from 40.3 MBoe/d Q1 2024.","Distribution of $0.375/unit declared, coverage 0.93x; $14.2M mineral acquisitions in Q1.","Borrowing base reaffirmed at $375M; total debt $63M, $4.3M cash as of May 2."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-022331","json":"https://secwatch.observer/filing/0001628280-25-022331.json","markdown":"https://secwatch.observer/filing/0001628280-25-022331.md","text":"https://secwatch.observer/filing/0001628280-25-022331.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1621434/000162828025022331/0001628280-25-022331-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1621434/000162828025022331/bsm-20250505.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T12:12:34.823601+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}