Welcome to our dedicated page for Black Stone Minerals, L.P. news (Ticker: BSM), a resource for investors and traders seeking the latest updates and insights on Black Stone Minerals, L.P. stock.
Black Stone Minerals, L.P. (BSM) is the largest publicly traded mineral and royalty company in the United States, with interests spread across approximately 18 million gross acres in over 40 states. Headquartered in Houston, TX, the company's principal focus is on maximizing the value of its existing portfolio of mineral and royalty assets through active management and strategic acquisitions.
Core Business: Black Stone Minerals' core business involves the ownership and management of oil and natural gas mineral interests. The company employs a strategic approach to enhance the value of its assets through the marketing of mineral assets for lease, creative structuring of those leases to encourage and accelerate drilling activity, and selective participation alongside lessees on a working-interest basis.
Recent Achievements and Projects: The company has been expanding its asset base through the acquisition of additional mineral and royalty interests, ensuring a steady growth in its reserves, production, and cash generated from operations. Recent strategic moves have positioned Black Stone Minerals as a significant player in the oil and natural gas sector, focusing on long-term growth and stability.
Financial Condition and Partnerships: Black Stone Minerals is committed to financial stability and growth, continually seeking opportunities to enhance its portfolio. The company's collaborative approach with lessees and strategic partners has been instrumental in driving value and ensuring sustained production.
With a primary business objective to grow its reserves, production, and cash flow over the long term, Black Stone Minerals continues to be a pivotal entity in the mineral and royalty space, leveraging its extensive asset base and strategic initiatives to maximize shareholder value.
Black Stone Minerals, L.P. (NYSE: BSM) has declared a cash distribution of
Black Stone Minerals, L.P. (NYSE: BSM) reported record financial results for Q4 2022, with mineral and royalty production reaching 40.0 MBoe/d, up 7% from Q3. Net income was $183.2 million, with adjusted EBITDA at $131.7 million and distributable cash flow of $125.3 million, marking company highs. The Q4 cash distribution increased by 6% to $0.475 per unit. For 2022, total production averaged 37.1 MBoe/d, with net income of $476.5 million. Proved reserves rose by 7% to 64.1 MMBoe. Black Stone anticipates continued production growth in 2023, while managing expenses and maintaining a strong balance sheet.
Black Stone Minerals, L.P. (NYSE: BSM) announced a cash distribution of
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.
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