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Mar 31, 2024
Black Stone Minerals Q1 2024 Earnings Report
Black Stone Minerals reported first quarter results.
Key Takeaways
Black Stone Minerals reported a net income of $63.9 million and Adjusted EBITDA of $104.1 million for the first quarter of 2024. The company's total production averaged 40.3 MBoe/d, with mineral and royalty volumes at 38.1 MBoe/d. A distribution of $0.375 per unit was announced.
Mineral and royalty production was 38.1 MBoe/d, a 2% decrease from the prior quarter.
Net income for the first quarter was $63.9 million, with Adjusted EBITDA totaling $104.1 million.
Distributable cash flow was $96.4 million for the first quarter.
A distribution of $0.375 per unit was announced, a 21% decrease from the previous quarter.
Black Stone Minerals
Black Stone Minerals
Black Stone Minerals Revenue by Segment
Revenue by Segment
Oil & Condensate Revenue
CapyFin.comNatural Gas & NGL Revenue
CapyFin.comLease & Other Income Revenue
CapyFin.comCommodity Derivatives Revenue
CapyFin.com Forward Guidance
Black Stone Minerals lowered its total production guidance to a range of 38.5 MBoe/d to 40.5 MBoe/d due to continued pressure on natural gas prices.
Challenges Ahead
- Continued pressure on natural gas prices.
- Production curtailments.
- Delays in drilling and completion of new wells.
- Lowered total production guidance.
- Aethon began curtailing production volumes on a small number of producing wells, expected to amount to approximately 800 Boe/d.
Revenue & Expenses
Visualization of income flow from segment revenue to net income