| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 13,272,000 | 72,227,000 | 91,729,000 | 135,976,000 |
| Depreciation, depletion, and amortization | 9,785,000 | 8,670,000 | 9,900,000 | 18,317,000 |
| Accretion of asset retirement obligations | 389,000 | 361,000 | 344,000 | 669,000 |
| Amortization of deferred charges | 262,000 | 255,000 | 280,000 | 550,000 |
| (gain) loss on commodity derivative instruments, net | -64,550,000 | 23,521,000 | 27,287,000 | -3,217,000 |
| Net cash (paid) received on settlement of commodity derivative instruments | 12,244,000 | -4,540,000 | -6,914,000 | 465,000 |
| Equity-based compensation | 3,551,000 | 2,397,000 | 2,208,000 | 5,015,000 |
| Gain on sale of assets, net | NaN | 0 | NaN | NaN |
| Accrued revenue and accounts receivable | 9,775,000 | 1,193,000 | -15,686,000 | 8,948,000 |
| Prepaid expenses and other current assets | -2,821,000 | 3,591,000 | -2,600,000 | 5,623,000 |
| Accounts payable, accrued liabilities, and other | -9,949,000 | 5,570,000 | -2,559,000 | -3,297,000 |
| Settlement of asset retirement obligations | -102,000 | -615,000 | -59,000 | -100,000 |
| Net cash provided by operating activities | 62,560,000 | 65,100,000 | 99,756,000 | 145,311,000 |
| Acquisitions of oil and natural gas properties | 11,549,000 | 48,786,000 | 20,276,000 | 37,990,000 |
| Additions to oil and natural gas properties | 175,000 | 86,000 | 228,000 | 326,000 |
| Additions to oil and natural gas properties leasehold costs | 236,000 | 6,309,000 | 189,000 | 4,620,000 |
| Purchases of other property and equipment | 150,000 | 136,000 | 11,000 | 151,000 |
| Proceeds from the sale of oil and natural gas properties | 121,000 | 434,000 | 0 | 400,000 |
| Net cash used in investing activities | -11,989,000 | -54,883,000 | -20,704,000 | -42,687,000 |
| Distributions to unitholders-Common Units | 63,700,000 | 63,558,000 | 63,556,000 | 158,540,000 |
| Distributions to unitholders-Series BCumulative Convertible Preferred Units | NaN | 29,466,000 | NaN | NaN |
| Distributions to unitholders-Preferred Units | -14,733,000 | NaN | 7,366,000 | 14,733,000 |
| Repurchases of common units-Common Units | 2,335,000 | 22,000 | 466,000 | 3,289,000 |
| Borrowings under credit facility | 82,000,000 | 122,000,000 | 72,000,000 | 179,000,000 |
| Repayments under credit facility | 49,000,000 | 63,000,000 | 76,000,000 | 105,000,000 |
| Debt issuance costs and other | 36,000 | 2,960,000 | 15,000 | 62,000 |
| Net cash used in financing activities | -40,437,000 | -14,907,000 | -75,403,000 | -102,624,000 |
| Net change in cash and cash equivalents | 10,134,000 | -4,690,000 | 3,649,000 | 0 |
| Cash and cash equivalentsbeginning of the period | 1,478,000 | 0 | 2,519,000 | NaN |
| Cash and cash equivalents end of the period | 11,612,000 | 1,478,000 | 6,168,000 | NaN |
Black Stone Minerals, L.P. (BSM)
Black Stone Minerals, L.P. (BSM)