December 08, 2016 1:17 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Black Stone Minerals, L.P.

Company Overview

Black Stone Minerals, L.P., together with its subsidiaries, owns oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 14.6 million acres; nonparticipating royalty interests in 1.3 million acres; and overriding royalty interests in 1.4 million acres in the Bakken/Three Forks, Eagle Ford Shale, Wolfcamp, Haynesville/Bossier, and Fayetteville Shale plays, as well as in the Lower Wilcox and Canyon Lime plays located in 41 states and in 61 onshore basins in the continental United States. It also owns other working interests, unrelated to mineral and royalty assets primarily in the Anadarko Basin, as well as in Permian and Powder River Bas...

1001 Fannin Street

Suite 2020

Houston, TX 77002

United States

Founded in 1876

Phone:

713-445-3200

Fax:

713-658-0943

Key Executives for Black Stone Minerals, L.P.

Chairman of Black Stone Minerals GP L.L.C, Chief Executive Officer of Black Stone Minerals GP L.L.C and President of Black Stone Minerals GP L.L.C
Age: 64
Total Annual Compensation: $669.5K
Senior Vice President of Business Development for Black Stone Minerals GP LLC
Age: 39
Total Annual Compensation: $350.0K
Consultant of Black Stone Minerals Gp L.L.C
Age: 46
Total Annual Compensation: $386.3K
Compensation as of Fiscal Year 2015.

Black Stone Minerals, L.P. Key Developments

Black Stone Minerals Approves Cash Distributions for the Third Quarter of 2016 on Common and Subordinated Units, Payable on November 25, 2016

The Board of Directors of Black Stone Minerals, L.P. has approved cash distributions attributable to the third quarter of 2016 of $0.2875 per common unit and $0.18375 per subordinated unit. Distributions will be payable on November 25, 2016 to unitholders of record on November 17, 2016.

Black Stone Minerals, L.P. Announces Unaudited Consolidated Production and Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Black Stone Minerals, L.P. announced unaudited consolidated production and earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, total revenue was $99,171,000 against $137,020,000 a year ago. Income from operations was $39,316,000 against $54,699,000 a year ago. Net income was $37,535,000 against $53,892,000 a year ago. Net income attributable to limited partners per common limited partner unit (basic and diluted) was $0.24 against $0.27 a year ago. EBITDA was $68,548,000 against $78,050,000 a year ago. Adjusted EBITDA was $74,224,000 against $64,806,000 a year ago. Cash generated from operations was $64,088,000 against $88,051,000 a year ago. Cash used to fund capital expenditures were $62,165,000 against $32,973,000 a year ago. For the nine months, total revenue was $204,121,000 against $292,884,000 a year ago. Income from operations was $31,448,000 against loss from operations of $46,332,000 a year ago. Net income was $27,474,000 against net loss of $51,575,000 a year ago. Net income attributable to limited partners per common limited partner unit (basic and diluted) was $0.26 against $0.30 a year ago. EBITDA was $111,901,000 against $37,369,000 a year ago. Adjusted EBITDA was $203,991,000 against $196,991,000 a year ago. Cash generated from operations was $191,581,000 against $276,355,000 a year ago. Cash used to fund capital expenditures were $104,558,000 against $102,858,000 a year ago. For the quarter, production of oil and condensate was 1,015 MBbls against 936 MBbls a year ago. Production of Natural gas was 13,207 MBbls against 10,411 MBbls a year ago. For the nine months, production of oil and condensate was 2,848 MBbls against 2,668 MBbls a year ago. Production of Natural gas was 36,014 MBbls against 31,817 MBbls a year ago.

Black Stone Minerals, L.P. Appoints Jeff Wood as Senior Vice President and Chief Financial Officer

Black Stone Minerals, L.P. announced that Jeffrey P. Wood will assume the role of Senior Vice President and Chief Financial Officer following the previously announced departure of Marc Carroll on November 11, 2016. Mr. Wood brings over 20 years of senior financial leadership and capital markets experience, most recently as Executive Vice President and Chief Financial Officer of Siluria Technologies Inc.

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