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.

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