Posted on 8018
Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone Minerals,” “Black Stone,” or “the Company”) today announces its financial and operating results for the first quarter of 2021.
Financial and Operational Highlights
Mineral and royalty production for the first quarter of 2021 equaled 31.1 MBoe/d, a decrease of 3% over the prior quarter; total production, including working interest volumes, was 36.8 MBoe/d for the quarter.
Net income and Adjusted EBITDA for the quarter totaled $16.2 million and $60.0 million, respectively.
Distributable cash flow was $53.8 million for the first quarter, resulting in distribution coverage for all units of 1.5x based on the announced cash distribution of $0.175 per unit.