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August 28, 2015 9:31 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 14.5 million acres; nonparticipating royalty interests in 1.2 million acres; and overriding royalty interests in 1.4 million acres in the Bakken/Three Forks plays, Eagle Ford Shale, Wolfcamp play, Haynesville/Bossier plays, Granite Wash play, and Fayetteville Shale, as well as in the Tuscaloosa Marine Shale and the Canyon Lime play located in 41 states and in 62 onshore basins in the continental United States. It also owns other working interests, unrelated to mineral and royalty assets primarily in the Anadarko Basin...

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 LLC, Chief Executive Officer of Black Stone Minerals GP LLC and President of Black Stone Minerals GP LLC
Age: 63
Total Annual Compensation: $669.5K
Chief Financial Officer of Black Stone Minerals GP LLC and Senior Vice President of Black Stone Minerals GP LLC
Age: 45
Total Annual Compensation: $386.3K
Senior Vice President of Business Development for Black Stone Minerals GP LLC
Age: 38
Total Annual Compensation: $334.8K
Compensation as of Fiscal Year 2014.

Black Stone Minerals, L.P. Key Developments

Black Stone Minerals, L.P. Announces Cash Distribution for the Second Quarter of 2015, Payable on August 27, 2015

The Board of Directors of Black Stone Minerals, L.P. has approved a cash distribution of $0.2625 per unit attributable to the second quarter of 2015. Distributions will be payable on August 27, 2015 to unitholders of record at the close of business on August 20, 2015.

Black Stone Minerals, L.P. Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Impairment Charges for the Second Quarter Ended June 30, 2015

Black Stone Minerals, L.P. reported unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenue of $64,803,000 against $118,937,000 a year ago. Loss from operations was $121,224,000 against income from operations of $64,791,000 a year ago. Net loss was $122,766,000 against net income $62,111,000 a year ago. Net loss attributable to the general partner and limited partners was $107,587,000. Net loss attributable to limited partners per basic and diluted unit was $0.56. LBITDA was $88,816,000 against EBITDA of $89,389,000 a year ago. Adjusted EBITDA was $71,266,000 against $93,181,000 a year ago. Cash generated from operations was $69,407,000 against $90,004,000 a year ago. Capital expenditures, net were $28,809,000 against $21,837,000 a year ago. For the six months, the company reported total revenue of $155,864,000 against $246,349,000 a year ago. Loss from operations was $101,031,000 against income from operations of $138,016,000 a year ago. Net loss was $105,467,000 against net income $131,995,000 a year ago. Net loss attributable to the general partner and limited partners was $107,587,000. Net loss attributable to limited partners per basic and diluted unit was $0.56. LBITDA was $40,681,000 against EBITDA of $185,840,000 a year ago. Adjusted EBITDA was $132,185,000 against $197,189,000 a year ago. Cash generated from operations was $127,517,000 against $188,304,000 a year ago. Capital expenditures, net were $42,015,000 against $59,855,000 a year ago. For the quarter, the company reported oil and condensate production of 905 MBbls against 661 MBbls a year ago. Natural gas production was 10,621 MMcf against 10,487 MMcf a year ago. Average production was 29.4 MBoe per day, an increase of 11% over average production of 26.5 MBoe per day for the corresponding period in 2014. The increase in production was primarily attributable to activity in the Bakken/Three Forks, Eagle Ford, Haynesville/Bossier, and Wilcox plays. For the six months, the company reported oil and condensate production of 1,732 MBbls against 1,323 MBbls a year ago. Natural gas production was 21,406 MMcf against 20,228 MMcf a year ago. For the quarter, the company reported impairment of oil and natural gas properties of $118,362,000.

Black Stone Minerals Seeks Acquisitions

President, Chief Executive Officer, and Chairman of Black Stone Minerals, L.P. (NYSE:BSM), Thomas L. Carter said, "We have a strong balance sheet and we are well positioned to continue to execute on our acquisition strategy."

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