secwatch.observer — SEC 8-K summary
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Issuer:     Black Stone Minerals, L.P. (BSM)
CIK:        0001621434
Form:       8-K
Filed at:   2025-05-06T23:59:59+00:00
Accession:  0001628280-25-022331
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Black Stone Minerals Q1 net income $15.9M, down 75% YoY; distribution held at $0.375/unit
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621434/000162828025022331/0001628280-25-022331-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621434/000162828025022331/bsm-20250505.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-022331

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