Quarterly ResultMay 5, 2026, 06:08 AM
Black Stone Minerals Q1 Net Income $13.3M; Production +16%; Dist $0.30
AI Summary
Black Stone Minerals, L.P. reported first quarter 2026 financial and operating results, with net income of $13.3 million and Adjusted EBITDA of $87.0 million. Mineral and royalty production increased by 16% from the prior quarter to 35.9 MBoe/d, driven by strong activity in the Haynesville, Shelby Trough, and Permian basins. The partnership declared a cash distribution of $0.30 per unit, maintaining a coverage ratio of 1.20x, and reduced total debt to $164.0 million by May 1, 2026. Management expressed a constructive long-term outlook despite commodity price volatility.
Key Highlights
- Q1 2026 net income was $13.3 million, down from $72.2 million in Q4 2025.
- Mineral and royalty production rose 16% to 35.9 MBoe/d from prior quarter.
- Adjusted EBITDA for Q1 2026 totaled $87.0 million.
- Distributable cash flow was $76.5 million for the quarter.
- Declared a $0.30 per unit cash distribution with 1.20x coverage.
- Total debt reduced to $164.0 million by May 1, 2026.
- Acquired $11.5 million in mineral and royalty interests in Q1.
- Oil and gas revenue increased 30% to $117.5 million from Q4 2025.