Thomas L. Carter, Jr., Chairman, President and Chief Executive Officer of Black Stone Minerals L.P. (NYSE: BSM), presented today at EnerCom’s The Oil & Gas Conference® 20.
Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The company’s interests include approximately 16.7 million gross acres in 41 states and throughout every major producing basin.
In its Q2 press release, the company reported average production of 29.4 MBOEPD, 1% higher sequentially and 11% higher from the same quarter last year. Revenues for the quarter totaled $64.8 million. The company’s quarterly distribution coverage ratio was 1.3x, with cash generated from operations available for distribution of $66.4 million.
During the company’s breakout session, management was asked the following questions:
- Can you talk a little bit about your acquisition strategy, and also talk about your peer group?
- Who’s your biggest competitor for asset interests?
- Considering your decline rates, are you doing any long-term hedging?
- Are you participating in any exploratory drilling?
- When do the subordinated units convert?
- Is there a certain commodity price needed for a 9% growth rate?
- Where are most of your acres in Mississippi and Alabama?
- How much of your acreage is not producing?
- Why is your Anadarko position not included in your 5 major positions?
