Black Stone Minerals Q1 net income $13.3M; production up 16% QoQ to 35.9 MBoe/d

Black Stone Minerals, L.P.

Net income $13.3M vs $72.2M Q4 2025; revenue $117.5M (+30% QoQ) on higher volumes & prices.
Mineral & royalty production 35.9 MBoe/d (+16% QoQ); total production 37.0 MBoe/d (76% gas).
Distributable cash flow $76.5M; distribution $0.30/unit (1.20x coverage) payable May 15.
Debt reduced to $164M post-quarter; borrowing base reaffirmed at $580M; $10M cash on hand.
Revenant spud 2 wells; one well control incident in April under assessment for commitment impact.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Black Stone Minerals, L.P. reported first quarter of 2026 results: revenue $117.5 million, net income $13.3 million.

Period: first quarter of 2026
Revenue: $117.5 million
Net income: $13.3 million
Result: reported results

Exact text from the filing

is an increase of 15% from $30.63 per Boe in the fourth quarter of 2025 and a 4% increase from $33.94 in the first quarter of 2025. Black Stone reported oil and gas revenue of $117.5 million (46% oil and condensate) for the first quarter of 2026, an increase of 30% from $90.5 million in the fourth quarter of 2025. Oil and gas revenue in the first quarter of 2025 was

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Source: SEC EDGAR

accession 0001628280-26-030031

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