| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 11,612 | 1,478 | 2,864 | 2,519 |
| Restricted cash | NaN | NaN | 3,304 | NaN |
| Accrued revenue and accounts receivable | 75,352 | 65,572 | 64,367 | 80,025 |
| Commodity derivative assets, net | 1,826 | 18,864 | 8,507 | 2,111 |
| Prepaid expenses and other current assets | 6,901 | 9,722 | 6,131 | 8,731 |
| Total current assets | 95,691 | 95,636 | 85,173 | 93,386 |
| Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of 1,075,256 and 1,063,709 at march31, 2026 and december31, 2025, respectively | 3,091,255 | 3,079,340 | 3,174,675 | 3,153,976 |
| Accumulated depreciation, depletion, amortization and impairment | 1,864,956 | 1,855,332 | 1,999,325 | 1,989,690 |
| Oil and natural gas properties, net | 1,226,299 | 1,224,008 | 1,175,350 | 1,164,286 |
| Other property and equipment, net of accumulated depreciation of 16,051 and 15,768 at march31, 2026 and december31, 2025, respectively | 993 | 1,126 | 1,255 | 1,508 |
| Net property and equipment | 1,227,292 | 1,225,134 | 1,176,605 | 1,165,794 |
| Deferred charges and other long-term assets | 15,433 | 14,784 | 8,602 | 8,709 |
| Total assets | 1,338,416 | 1,335,554 | 1,270,380 | 1,267,889 |
| Accounts payable | 2,761 | 2,823 | 2,627 | 6,877 |
| Accrued liabilities | 7,925 | 19,388 | 13,898 | 12,504 |
| Commodity derivative liabilities, net | 27,624 | 0 | 122 | 7,072 |
| Other current liabilities | 2,669 | 2,412 | 2,853 | 2,528 |
| Total current liabilities | 40,979 | 24,623 | 19,500 | 28,981 |
| Credit facility | 187,000 | 154,000 | 95,000 | 99,000 |
| Accrued incentive compensation | 638 | 1,011 | 864 | 788 |
| Commodity derivative liabilities, net | 8,564 | 0 | 4,971 | 11,766 |
| Asset retirement obligations | 22,930 | 22,716 | 19,950 | 19,728 |
| Other long-term liabilities | 4,623 | 4,748 | 4,882 | 5,010 |
| Total liabilities | 264,734 | 207,098 | 145,167 | 165,273 |
| Partners' equityseries b cumulative convertible preferred units, 14,711 units outstanding at march31, 2026 and december31, 2025, respectively | 300,478 | 300,478 | 300,478 | 300,478 |
| Partners' equitygeneral partner interest | 0 | 0 | 0 | 0 |
| Partners' equitycommon units, 212,493 and 211,873 units outstanding at march31, 2026 and december31, 2025, respectively | 773,204 | 827,978 | 824,735 | 802,138 |
| Total equity | 773,204 | 827,978 | 824,735 | 802,138 |
| Total liabilities, mezzanine equity, and equity | 1,338,416 | 1,335,554 | 1,270,380 | 1,267,889 |
Black Stone Minerals, L.P. (BSM)
Black Stone Minerals, L.P. (BSM)