Black Stone Minerals, L.P. Announces Leadership Change

Rhea-AI Summary

Black Stone Minerals, L.P. (NYSE: BSM) announced the departure of Jeff Wood, President, Chief Financial Officer, and Treasurer, effective February 28, 2023. Evan Kiefer, currently Vice President of Finance and Investor Relations, will step in as Interim CFO and Treasurer. CEO Thomas L. Carter acknowledged Wood's significant contributions since 2016, highlighting his role during challenging times, including the Covid pandemic. The company boasts one of the strongest financial positions in its history, owning diverse oil and natural gas mineral interests across 41 U.S. states, supporting stable cash flow distributions to unitholders.

Positive

• Evan Kiefer's promotion to Interim CFO may bring fresh perspectives to the financial team.
• The company is in a strong financial position, indicating stability for investors.

Negative

• Jeff Wood's departure raises concerns about continuity and potential experience gaps in leadership.

HOUSTON--(BUSINESS WIRE)-- Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone,” “BSM,” or “the Company”) today announced that Jeff Wood, the President, Chief Financial Officer, and Treasurer of Black Stone’s general partner, will leave the company effective February 28, 2023. Upon Mr. Wood’s departure, Evan Kiefer, who currently serves as Vice President, Finance and Investor Relations, will assume the role of Interim Chief Financial Officer and Treasurer.

Thomas L. Carter, Jr., Black Stone’s Chief Executive Officer and Chairman commented, “Jeff has been an integral part of our management team and our success as a public company since he joined us in 2016, shortly after our initial public offering. He has brought a high level of professionalism to our organization and helped to navigate us through some difficult times, including Covid and the accompanying downturn in the commodity markets.” Mr. Carter concluded, “On behalf of Black Stone’s Board and senior management team, I want to thank Jeff for his contributions to the Company, which is today in one of the strongest financial positions in its history.”

About Black Stone Minerals, L.P.

Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The Company owns mineral interests and royalty interests in 41 states in the continental United States. Black Stone believes its large, diversified asset base and long-lived, non-cost-bearing mineral and royalty interests provide for stable to growing production and reserves over time, allowing the majority of generated cash flow to be distributed to unitholders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005858/en/

Black Stone Minerals, L.P. Contacts

Jeff Wood

President and Chief Financial Officer

Evan Kiefer

Vice President, Finance and Investor Relations

Telephone: (713) 445-3200

investorrelations@blackstoneminerals.com

Source: Black Stone Minerals, L.P.

FAQ

Who is replacing Jeff Wood at Black Stone Minerals?

Evan Kiefer will assume the role of Interim Chief Financial Officer and Treasurer.

What position did Jeff Wood hold before leaving Black Stone Minerals?

Jeff Wood was the President, Chief Financial Officer, and Treasurer.

When will Jeff Wood leave Black Stone Minerals?

Jeff Wood will leave the company effective February 28, 2023.

What impact does Jeff Wood's departure have on Black Stone Minerals?

His departure may raise concerns about leadership continuity and experience gaps.

How many states does Black Stone Minerals own mineral interests in?

Black Stone Minerals owns mineral interests in 41 states across the continental United States.