Q3 2025 Black Stone Minerals LP Earnings Call Transcript

Nov 4, 2025 / 03:00 PM GMT

Release Date Price: $13.34 (+1.83%)

Transcript 10-Q8-K

Key Points

Positve

Black Stone Minerals LP (BSM) reported a 5% increase in mineral and royalty production over the prior quarter, driven by strong volumes in the Permian Basin.
The company is pursuing significant growth opportunities through the Hainesville expansion and anticipates over 50 wells drilled annually in the expanded Shelby trough.
BSM declared a distribution of $0.30 per unit for the quarter, representing a solid coverage ratio of 1.21 times.
The company has added $20 million in mineral and royalty acquisitions during the quarter, enhancing its asset position.
BSM is well-positioned to benefit from increasing demand for natural gas, particularly due to its proximity to LNG facilities.

Negative

Development activity has slowed across the US in 2025, impacting the company's immediate growth outlook.
Natural gas differentials have weakened, particularly due to exposure to Waha, which may affect revenue from gas production.
The company did not update its full-year guidance, indicating uncertainty in production levels for the remainder of the year.
BSM's hedging strategy remains consistent, which may not fully mitigate the impact of fluctuating commodity prices.
The company faces risks associated with its forward-looking statements and the potential for actual results to differ materially.

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

BSM.N - Black Stone Minerals LP
Q3 2025 Black Stone Minerals LP Earnings Call
Nov 04, 2025 / 03:00PM 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 Van, and I will be your conference operator today. At this time, I would like to welcome everyone to Blackstone Minerals 3rd quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press one again.

Thank you. I will now turn the call over to Mark Moe, director of finance. You may now begin, sir.

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