Q1 2025 Black Stone Minerals LP Earnings Call Transcript

May 5, 2025 / 02:00 PM GMT

Release Date Price: $14.25 (-1.99%)

Transcript 10-Q8-K

Key Points

Positve

Black Stone Minerals LP (BSM) maintained its quarterly distribution of $0.37 per unit despite recent volatility in commodity prices.
The company reported a net income of $15.9 million for the first quarter, with adjusted EBITDA of $82.2 million.
BSM continues to benefit from near-term development activity and production on high-interest acreage in both oil and gas regions.
The company is encouraged by the strength in natural gas prices, which is expected to drive additional near-term gas-weighted activity.
BSM has been active in acquisitions, acquiring over $160 million in minerals since September 2023, which supports long-term growth and aligns with their natural gas strategy.

Negative

The distributable cash flow for the quarter was $73.7 million, representing a coverage ratio of 0.93 times, which is slightly lower than desired.
The lower coverage ratio was largely driven by a seismic license purchase, indicating potential financial strain from strategic investments.
BSM is closely monitoring the commodity environment and activity trends, suggesting uncertainty in market conditions.
The company faces risks associated with forward-looking statements, which may cause actual results to differ materially from expectations.
There is a reliance on accelerated drilling agreements in the Louisiana Hainesville, which involve a slightly reduced royalty burden, potentially impacting revenue.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BSM.N - Black Stone Minerals LP
Q1 2025 Black Stone Minerals LP Earnings Call
May 05, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. My name is Demi. I'll be your conference operator today. At this time, I would like to welcome everyone to the Blackstone Minerals first quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noises. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press start, followed by the number one on your telephone keypad. I would not like to turn the conference over to Mark Mo, director of finance. Please go ahead.

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Unidentified_2 [2]
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