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Dec 31, 2024
Black Stone Minerals Q4 2024 Earnings Report
Black Stone Minerals reported a decline in revenue and net income for Q4 2024 due to lower commodity prices and derivative losses.
Key Takeaways
Black Stone Minerals reported total revenue of $83.7 million in Q4 2024, a decline of 56.1% year-over-year. Net income for the quarter was $46.3 million, down from $147.6 million in Q4 2023. The company saw total production of 36.1 MBoe/d, with 74% being natural gas. Average realized prices declined year-over-year, contributing to lower revenue. Despite these challenges, Black Stone maintained a stable dividend and continues to focus on mineral acquisitions and strategic partnerships to drive long-term growth.
Q4 revenue declined 56.1% year-over-year to $83.7 million.
Total production averaged 36.1 MBoe/d, with 74% natural gas.
Net income fell to $46.3 million, down from $147.6 million in Q4 2023.
Black Stone continues to invest in mineral acquisitions and strategic development partnerships.
Revenue by Segment
Forward Guidance
Black Stone Minerals expects a 2% increase in royalty production in 2025, driven by increased activity in Shelby Trough, Louisiana Haynesville, and Permian Basin. The company anticipates higher gas-weighted asset development but warns of continued volatility in commodity prices.
Positive Outlook
- Projected 2% increase in royalty production in 2025.
- Expected development of 28 wells in Shelby Trough.
- Increased activity in Louisiana Haynesville and Permian Basin.
- Maintaining a strong financial position with low leverage.
- Ongoing strategic mineral acquisitions to drive long-term growth.
Challenges Ahead
- Potential volatility in oil and gas prices impacting revenue.
- Lower lease bonus and other income expected in 2025.
- Higher general and administrative expenses due to inflationary costs.
- Declining working interest production as farm-out agreements expire.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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