Black Stone Minerals Q1 2023 Earnings Report

Mineral and royalty production equaled 36.8 MBoe/d, a decrease of 8% over the prior quarter; total production was 39.3 MBoe/d for the quarter.

Net income for the first quarter was $134.4 million; Adjusted EBITDA totaled $109.9 million, a decrease of 17% over the prior quarter.

Distributable cash flow was $104.1 million for the first quarter, a decrease of 17% relative to the fourth quarter of 2022.

Announced a distribution of $0.475 per unit with respect to the first quarter of 2023, an increase of 19% over the common distribution paid to the first quarter of 2022.