Latest news with #BSM
Business Insider
22-05-2025
- Business
- Business Insider
Black Stone Minerals CEO buys $196K in common stock
In a regulatory filing, Black Stone Minerals (BSM) disclosed that its CEO Thomas Carter bought 14.5K shares of common stock on May 21st in a total transaction size of $196K. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Wire
19-05-2025
- Business
- Business Wire
Black Stone Minerals, L.P. Announces New Development Agreement in the Shelby Trough with Revenant Energy and Amended Development Agreements with Aethon Energy
HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) ('Black Stone,' 'BSM,' or 'the Partnership') today announces that it has entered into a development agreement with Revenant Energy ('Revenant') with respect to the Partnership's expanded Shelby Trough Haynesville and Bossier acreage, primarily located in Angelina, Nacogdoches, and San Augustine counties in Texas. Separately, the Partnership has agreed to amend the existing development agreements with Aethon Energy ('Aethon') in Angelina and San Augustine counties. As part of this amendment, Aethon will return to the Partnership highly prospective mineral acreage to support and further accelerate another potential development program in the region. Management Commentary Thomas L. Carter, Jr., Black Stone Minerals' Chairman, Chief Executive Officer, and President, commented, 'We are excited to partner with the Revenant Energy team, whose proven track record of development in the Shelby Trough establishes them as a solid operator for this asset. Through robust subsurface evaluation, we identified substantial areas of prospective minerals outside of the existing Shelby Trough development agreements. This new agreement covers approximately 270,000 gross and 95,000 net undeveloped acres with significant resource potential that we expect to benefit both companies for decades. Additionally, the annual minimum well commitment at full ramp will ultimately about double the net well development of Black Stone's portfolio in the Shelby Trough. The acreage within this agreement comes from both legacy acquisitions and the recent targeted mineral acquisitions, which continue to enhance our existing Shelby Trough footprint. We have also finalized an amendment with Aethon that will release over 50,000 gross acres back to BSM in an area directly offsetting existing development, in exchange for a well commitment reduction. This released acreage provides a strong foundation that we plan to place under another new development agreement, further enhancing our outlook on total development activity in the Shelby Trough. With the combination of these executed agreements, proximity to the Gulf Coast market, and long-term natural gas pricing, we are confident in the growth opportunities the asset provides to our unitholders.' Revenant Development Agreement The Revenant Development Agreement covers approximately 270,000 gross acres across San Augustine, Nacogdoches, Angelina, Houston, and Trinity counties. BSM currently controls approximately 95,000 undeveloped net acres, with line of sight to additional acquisitions, all within this contractual area. The annual well commitments escalate over five years from a minimum of 6 wells per year starting in 2026 to a minimum of 25 wells per year and require test wells in certain areas in order to continue operating across the full footprint. Additionally, BSM expects to bring a non-operated working interest partner into the development. Aethon Amended Development Agreements The Partnership has entered into an amendment to the joint exploration agreements ('JEAs') with Aethon in Angelina and San Augustine counties which reduces the contract area to approximately 210,000 gross acres. Under the terms of the amendment, Aethon will release over 50,000 gross acres from the contract area, in exchange for reducing the annual well commitment to a total of 16 wells across both JEAs. As previously disclosed, the majority of farmout agreements covering non-operated working interests under these JEAs have terminated, and Aethon is absorbing that working interest as part of the amendment. About Black Stone Minerals, L.P. Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The Partnership owns mineral interests and royalty interests in 41 states in the continental United States. Black Stone believes its large, diversified asset base and long-lived, non-cost-bearing mineral and royalty interests provide for stable to growing production and reserves over time, allowing the majority of generated cash flow to be distributed to unitholders. Forward-Looking Statements This news release includes forward-looking statements. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as 'will,' 'may,' 'should,' 'expect,' 'anticipate,' 'plan,' 'project,' 'intend,' 'estimate,' 'believe,' 'target,' 'continue,' 'potential,' the negative of such terms, or other comparable terminology often identify forward-looking statements. Except as required by law, Black Stone Minerals undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. All forward-looking statements are qualified in their entirety by these cautionary statements. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of Black Stone Minerals, which may cause the Partnership's actual results to differ materially from those implied or expressed by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those summarized below: the Partnership's ability to execute its business strategies; the volatility of realized oil and natural gas prices; the level of production on the Partnership's properties; overall supply and demand for oil and natural gas, as well as regional supply and demand factors, delays, or interruptions of production; domestic and foreign trade policies, including tariffs and other controls on imports or exports of goods, including energy products; conservation measures and general concern about the environmental impact of the production and use of fossil fuels; the Partnership's ability to replace its oil and natural gas reserves; general economic, business, or industry conditions including slowdowns, domestically and internationally, and volatility in the securities, capital or credit markets; cybersecurity incidents, including data security breaches or computer viruses; competition in the oil and natural gas industry; the availability or cost of rigs, equipment, raw materials, supplies, oilfield services or personnel; and the level of drilling activity by the Partnership's operators, particularly in areas such as the Shelby Trough where the Partnership has concentrated acreage positions.
Yahoo
19-05-2025
- Business
- Yahoo
Black Stone Minerals, L.P. Announces New Development Agreement in the Shelby Trough with Revenant Energy and Amended Development Agreements with Aethon Energy
HOUSTON, May 19, 2025--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) ("Black Stone," "BSM," or "the Partnership") today announces that it has entered into a development agreement with Revenant Energy ("Revenant") with respect to the Partnership's expanded Shelby Trough Haynesville and Bossier acreage, primarily located in Angelina, Nacogdoches, and San Augustine counties in Texas. Separately, the Partnership has agreed to amend the existing development agreements with Aethon Energy ("Aethon") in Angelina and San Augustine counties. As part of this amendment, Aethon will return to the Partnership highly prospective mineral acreage to support and further accelerate another potential development program in the region. Management Commentary Thomas L. Carter, Jr., Black Stone Minerals' Chairman, Chief Executive Officer, and President, commented, "We are excited to partner with the Revenant Energy team, whose proven track record of development in the Shelby Trough establishes them as a solid operator for this asset. Through robust subsurface evaluation, we identified substantial areas of prospective minerals outside of the existing Shelby Trough development agreements. This new agreement covers approximately 270,000 gross and 95,000 net undeveloped acres with significant resource potential that we expect to benefit both companies for decades. Additionally, the annual minimum well commitment at full ramp will ultimately about double the net well development of Black Stone's portfolio in the Shelby Trough. The acreage within this agreement comes from both legacy acquisitions and the recent targeted mineral acquisitions, which continue to enhance our existing Shelby Trough footprint. We have also finalized an amendment with Aethon that will release over 50,000 gross acres back to BSM in an area directly offsetting existing development, in exchange for a well commitment reduction. This released acreage provides a strong foundation that we plan to place under another new development agreement, further enhancing our outlook on total development activity in the Shelby Trough. With the combination of these executed agreements, proximity to the Gulf Coast market, and long-term natural gas pricing, we are confident in the growth opportunities the asset provides to our unitholders." Revenant Development Agreement The Revenant Development Agreement covers approximately 270,000 gross acres across San Augustine, Nacogdoches, Angelina, Houston, and Trinity counties. BSM currently controls approximately 95,000 undeveloped net acres, with line of sight to additional acquisitions, all within this contractual area. The annual well commitments escalate over five years from a minimum of 6 wells per year starting in 2026 to a minimum of 25 wells per year and require test wells in certain areas in order to continue operating across the full footprint. Additionally, BSM expects to bring a non-operated working interest partner into the development. Aethon Amended Development Agreements The Partnership has entered into an amendment to the joint exploration agreements ("JEAs") with Aethon in Angelina and San Augustine counties which reduces the contract area to approximately 210,000 gross acres. Under the terms of the amendment, Aethon will release over 50,000 gross acres from the contract area, in exchange for reducing the annual well commitment to a total of 16 wells across both JEAs. As previously disclosed, the majority of farmout agreements covering non-operated working interests under these JEAs have terminated, and Aethon is absorbing that working interest as part of the amendment. About Black Stone Minerals, L.P. Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The Partnership owns mineral interests and royalty interests in 41 states in the continental United States. Black Stone believes its large, diversified asset base and long-lived, non-cost-bearing mineral and royalty interests provide for stable to growing production and reserves over time, allowing the majority of generated cash flow to be distributed to unitholders. Forward-Looking Statements This news release includes forward-looking statements. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as "will," "may," "should," "expect," "anticipate," "plan," "project," "intend," "estimate," "believe," "target," "continue," "potential," the negative of such terms, or other comparable terminology often identify forward-looking statements. Except as required by law, Black Stone Minerals undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. All forward-looking statements are qualified in their entirety by these cautionary statements. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of Black Stone Minerals, which may cause the Partnership's actual results to differ materially from those implied or expressed by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those summarized below: the Partnership's ability to execute its business strategies; the volatility of realized oil and natural gas prices; the level of production on the Partnership's properties; overall supply and demand for oil and natural gas, as well as regional supply and demand factors, delays, or interruptions of production; domestic and foreign trade policies, including tariffs and other controls on imports or exports of goods, including energy products; conservation measures and general concern about the environmental impact of the production and use of fossil fuels; the Partnership's ability to replace its oil and natural gas reserves; general economic, business, or industry conditions including slowdowns, domestically and internationally, and volatility in the securities, capital or credit markets; cybersecurity incidents, including data security breaches or computer viruses; competition in the oil and natural gas industry; the availability or cost of rigs, equipment, raw materials, supplies, oilfield services or personnel; and the level of drilling activity by the Partnership's operators, particularly in areas such as the Shelby Trough where the Partnership has concentrated acreage positions. View source version on Contacts Black Stone Minerals, L.P. Contact Taylor DeWalchSenior Vice President, Chief Financial Officer, and TreasurerTelephone: (713) 445-3200investorrelations@
The Print
14-05-2025
- Business
- The Print
Shree Cement Q4 PAT declines 16pc to Rs 556 cr; upbeat on FY26 demand outlook
Total cement and clinker sales volume during the quarter reached 9.84 million tonnes, the company's highest-ever quarterly dispatch. Premium product sales contributed 15.6 per cent of total trade volume, up from 11.9 per cent in Q4 FY24. Revenue from operations was higher at Rs 5,240 crore in Q4 FY25, up from Rs 5073 crore in the year-ago quarter, while the EBITDA remained steady at Rs 1,381 crore, the company said in a statement. Kolkata, May 14 (PTI) Shree Cement on Wednesday reported a 16 per cent year-on-year decline in consolidated net profit at Rs 556 crore for the March quarter of FY25, compared to Rs 662 crore in the corresponding period last year. 'Our focus on premiumisation and cost optimisation has helped us navigate a challenging cost environment. We remain optimistic about cement demand recovery in FY26 and will continue to pursue strategic growth across products and markets,' said managing director Neeraj Akhoury. During FY25, Shree Cement commissioned two grinding units — one at Etah, Uttar Pradesh (3.0 MTPA), and another at Baloda Bazar, Chhattisgarh (3.4 MTPA) — taking total cement capacity to 62.8 MTPA. The company has set a target of crossing 80 MTPA capacity by FY28, with projects in Rajasthan, Karnataka, and Jharkhand underway. The company also expanded clinker capacity at its Nawalgarh unit from 3.8 to 4.5 MTPA in the quarter. A final dividend of Rs 60 per share has been recommended for FY25. In FY26, cement demand is expected to grow by 6.5–7.5 per cent, driven by infrastructure, rural recovery, and real estate, the company said. PTI BSM NN This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Yahoo
06-05-2025
- Business
- Yahoo
Black Stone Minerals LP (BSM) Q1 2025 Earnings Call Highlights: Strategic Acquisitions and ...
Release Date: May 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Black Stone Minerals LP (NYSE:BSM) maintained its quarterly distribution of $0.37 per unit despite recent volatility in commodity prices. The company reported a net income of $15.9 million for the first quarter, with adjusted EBITDA of $82.2 million. BSM continues to benefit from near-term development activity and production on high-interest acreage in both oil and gas regions. The company is encouraged by the strength in natural gas prices, which is expected to drive additional near-term gas-weighted activity. BSM has been active in acquisitions, acquiring over $160 million in minerals since September 2023, which supports long-term growth and aligns with their natural gas strategy. Negative Points The distributable cash flow for the quarter was $73.7 million, representing a coverage ratio of 0.93 times, which is slightly lower than desired. The lower coverage ratio was largely driven by a seismic license purchase, indicating potential financial strain from strategic investments. BSM is closely monitoring the commodity environment and activity trends, suggesting uncertainty in market conditions. The company faces risks associated with forward-looking statements, which may cause actual results to differ materially from expectations. There is a reliance on accelerated drilling agreements in the Louisiana Hainesville, which involve a slightly reduced royalty burden, potentially impacting revenue. Q & A Highlights Q: Can you share what you are seeing in terms of activity in the Hainesville given the re-rate in natural gas prices, and any visibility into Aon's completion of the remaining 17 gross wells in 2025? A: Taylor DeWalsh, CFO, responded that they are encouraged by the continued strength in natural gas prices and expect increased activity levels in the Hainesville. They are on schedule with Aon's completion of the 17 wells for the year and anticipate ongoing development from Aon and other operators. Q: How do you view the current acquisition opportunity set, and does the decrease in oil prices make acquisitions in oilier basins an attractive countercyclical opportunity? A: Taylor DeWalsh, CFO, stated that they see long-term growth opportunities tied to their natural gas strategy, particularly with acquisitions near the Gulf Coast. While they continue to evaluate market opportunities, their focus remains on strategic acquisitions that align with their portfolio.
