Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
Current BSM Stock Info

Black Stone Minerals will present at EnerCom’s The Oil & Gas Conference® 21 on Aug. 17, 2016.

Black Stone Minerals, L.P. is one of the largest holders of mineral and royalty interests focused on oil and gas properties in the U.S.

The company’s interests include approximately 17 million gross acres in more than 40 states and every major producing basin in the U.S.

Black Stone Minerals began operating as a timber company in the late 1800s, and some of the properties that the company owns are a residual from those holdings. The company has built acreage positions to more than ~17 million mineral and royalty acres. The company operates as a non-operator in all of its properties. The company has the option to participate in wells where it owns the mineral rights or lease the property in exchange for a lease bonus and an over-riding royalty share. The opportunity to participate allows them to maintain capital discipline when faced with different opportunities to commit capital.

The company recorded production of 30.3 MBOEPD in the first quarter 2016, and proved reserves of 49.75 MMBOE as of December 31, 2015.

BSM1

During the first quarter 2016 Black Stone Minerals purchased 4,800 gross mineral acres in the Wattenberg Field for $35 million. The company said it continues to be active in the A&D market, and is anticipating deal flow from the depressed pricing environment.

Black Stone Minerals L.P. showed a net income for Q1 2016 of $8.9 million and EBITDAX of $34.8 million. Black Stone Minerals plans to increase quarterly distributions through 2019 supported by a strong asset position. The company has subordinated units in their capital stack which insulates the common unit holders should the company be unable to make cash distributions (1.9x coverage ratio Q1 2016).

Recent analyst coverage focused on Black Stone Mineral’s emphasis on acquiring assets from other producers facing financial uncertainty. The company is currently in the process of acquiring mineral assets from Freeport McMoRan (ticker: FCX), which has been seeking buyers for its oil and gas assets

EnerCom’s The Oil & Gas Conference® Denver – August 14-18, 2016

Black Stone Minerals L.P. (ticker: BSM) will be presenting at EnerCom’s The Oil & Gas Conference® 21 in Denver on Wednesday, August 17, 2016 at 5:35pm EDT. Conference information and registration for this year’s EnerCom conference may be accessed here.


Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.