Black Stone Minerals, L.P. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Black Stone Minerals, L.P. has filed its 2023 annual report (10-K) detailing its financial performance and operational data for the fiscal year ending December 31, 2023.</b>

AI Summary

Black Stone Minerals, L.P. (BSMLP) filed a Annual Report (10-K) with the SEC on February 20, 2024. Black Stone Minerals, L.P. filed its 2023 Form 10-K on February 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is crude petroleum and natural gas extraction. The filing includes data on oil and gas reserves for 2021, 2022, and 2023. The company's principal executive offices are located at 1001 Fannin Street, Suite 2020, Houston, TX.

Why It Matters

For investors and stakeholders tracking Black Stone Minerals, L.P., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Black Stone Minerals' financial health, operational activities, and strategic positioning within the oil and gas sector for the fiscal year 2023. Investors and analysts can use this report to assess the company's reserve quantities, financial performance, and potential risks and opportunities moving forward.

Risk Assessment

Risk Level: medium — Black Stone Minerals, L.P. shows moderate risk based on this filing. The company operates in the volatile oil and gas industry, which is subject to significant price fluctuations and regulatory changes, impacting its financial performance and reserve valuations.

Analyst Insight

Monitor the company's reserve reports and production volumes in upcoming filings to gauge the impact of commodity prices and operational efficiency.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period.)
• 2024-02-20 — Filing Date (Date the 10-K was filed.)
• 1311 — SIC Code (Standard Industrial Classification for Crude Petroleum & Natural Gas.)

Key Players & Entities

• Black Stone Minerals, L.P. (company) — Filer of the 10-K report.
• 1001 Fannin Street, Suite 2020, Houston, TX 77022 (company) — Business and mailing address.
• 2023-12-31 (date) — Fiscal year end date.
• 2024-02-20 (date) — Filing date of the 10-K.
• Crude Petroleum & Natural Gas (industry) — Standard Industrial Classification.

FAQ

Risk Factors

• Commodity Price Volatility [high — market]: The company's financial results are significantly impacted by fluctuations in the prices of oil and natural gas, which are subject to global supply and demand dynamics.
• Environmental and Regulatory Risks [medium — regulatory]: Changes in environmental laws and regulations, including those related to climate change, could increase compliance costs and affect operations.
• Operational Risks [medium — operational]: The company faces risks related to the exploration, development, and production of oil and natural gas, including operational failures and unexpected geological conditions.

Key Dates

• 2024-02-20: 10-K Filing — Annual report detailing financial and operational performance for fiscal year 2023.

Key Financial Figures

• $15.95 — al quarter, based on a closing price of $15.95 per unit as reported by the New York St

Filing Documents

• bsm-20231231.htm (10-K) — 2108KB
• exhibit1011-formofseveranc.htm (EX-10.11) — 97KB
• exhibit211-subsidiariesofb.htm (EX-21.1) — 8KB
• exhibit231-consentofeyxye2.htm (EX-23.1) — 5KB
• exhibit232-consentofnsaixy.htm (EX-23.2) — 6KB
• exhibit311-certificationof.htm (EX-31.1) — 16KB
• exhibit312-certificationof.htm (EX-31.2) — 16KB
• exhibit321-certificationof.htm (EX-32.1) — 11KB
• exhibit971-incentivecompen.htm (EX-97.1) — 23KB
• exhibit991-reportofnsaixye.htm (EX-99.1) — 106KB
• bsm-20231231_g1.jpg (GRAPHIC) — 442KB
• bsm-20231231_g2.jpg (GRAPHIC) — 120KB
• exhibit233consentofin_imaga.jpg (GRAPHIC) — 4KB
• image_1a.jpg (GRAPHIC) — 19KB
• image_2a.jpg (GRAPHIC) — 268KB
• image_3.jpg (GRAPHIC) — 6KB
• 0001628280-24-005670.txt (&nbsp;) — 11740KB
• bsm-20231231.xsd (EX-101.SCH) — 61KB
• bsm-20231231_cal.xml (EX-101.CAL) — 80KB
• bsm-20231231_def.xml (EX-101.DEF) — 417KB
• bsm-20231231_lab.xml (EX-101.LAB) — 819KB
• bsm-20231231_pre.xml (EX-101.PRE) — 585KB
• bsm-20231231_htm.xml (XML) — 1351KB

RISK FACTORS

RISK FACTORS 23 ITEM 1B. UNRESOLVED STAFF COMMENTS 43 ITEM 1C. CYBERSECURITY 43 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 43 ITEM 4. MINE SAFETY DISCLOSURES 43 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED UNITHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES 44 ITEM 6. RESERVED 47 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 48 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 60 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 61 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 61 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 61 ITEM 9B. OTHER INFORMATION 62 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 62 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 63 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 63 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED UNITHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED UNITHOLDER MATTERS 63 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 63 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 64 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 65 ii GLOSSARY OF TERMS The following includes abbreviations and meanings of certain terms commonly used in the oil and natural gas industry that may be used in this Annual Report on Form 10-K ("Annual Report"). Authorization for Expenditures (AFE). A budgeting document, usually prepared by an operator, to list estimated expenses of drilling a well to a specified depth, casing point or geological objective, and then either completing or abandoning the well. This estimate of expenses is provided to partners for approval prior to commencement of drilling or subsequent operations. Basin. A large depression on the earth's surface in which sediments accumulate. Bbl. One stock tank barrel, or 42 U.S. gallons liquid volume. Bbl/d. Bbl per day. Bcf. One billion cubic feet of natural gas. Boe. Barrels of oil equivalent, with six thousand cubic feet of natural gas being equivalent to one barrel of oil. This "Btu-equivalent" conversion metric is based on an approximate energy equivalency and does not reflect the price or value relationship between oil and natural gas. Boe/d. Boe per day. British Thermal Unit (Btu). The quantity of heat required to raise the temperature of one pound of water by one degree Fahrenheit. Completion. The process of treating a drilling well followed by the installation of permanent equipment for the production of natural gas or oil, or in the case of a dry hole, the reporting of abandonment to the appropriate agency. Condensate. A mixture of hydrocarbons that exists in the gaseous phase at original reservoir temperature and pressure, but that, when produced, is in the liquid phase at surface pressure and temperature. Crude oil. Li

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