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Associated Press
19-05-2025
- Business
- Associated Press
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)--May 19, 2025-- 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: View source version on CONTACT: Black Stone Minerals, L.P. ContactTaylor DeWalch Senior Vice President, Chief Financial Officer, and Treasurer Telephone: (713) 445-3200 [email protected] KEYWORD: UNITED STATES NORTH AMERICA TEXAS INDUSTRY KEYWORD: ENERGY NATURAL RESOURCES MINING/MINERALS OIL/GAS SOURCE: Black Stone Minerals, L.P. Copyright Business Wire 2025. PUB: 05/19/2025 06:30 AM/DISC: 05/19/2025 06:29 AM
Yahoo
20-03-2025
- Health
- Yahoo
Brunch-themed snacks, drinks support Gingerbread House
BOSSIER CITY, La. (KTAL/KMSS) — Sip, shop, and support 'BLOOM' this April's National Child Abuse Awareness and Prevention Month. While participants shop, proceeds from several North Bossier City businesses will support the local nonprofit Gingerbread House, whose mission is to protect children and teen survivors of abuse. The 'BLOOM: Where flowers bloom, so does Hope!' hosts say brunch-themed snacks and drinks will be provided at all locations. On Saturday, March 29th, from 10 a.m. until 1 p.m., you can shop at select retail stores, and your purchases will support survivors of violent crimes. Gingerbread House raises more than $150K to help abused children Supporting Gingerbread House for National Child Abuse Awareness and Prevention Month: Branded Boutique Bossier Birdwell's LLCSimply Chic Boutique Bossier, Fashion Envy Give Me 3 Ivy & Stone Jaded The Boutique K Couture Boutique LOA Clothing Krush Boutique Bossier City Simply Chick Boutique Bossier The Bow Shop Rosewood Home and Baby The Prissy Pelican Boutique Follow The Gingerbread House on social media to discover more about each business and stay informed about the latest updates. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-03-2025
- Sport
- Yahoo
Bossier boys' hoops roll past Minden in semifinals
LAKE CHARLES, La. (KTAL/KMSS) — Bossier overpowers Minden in the semifinals, 51-35, to punch their ticket to the state championship game. Both teams played a clean first half. The Bearkats found their rhythm early on taking a 22-11 lead at half. The Crimson Tide tried it's best to chip away at the deficit, but Bossier ran away with this one, winning 51-35. THE LATEST — High School Sports News Minden's season comes to an end with an overall record of 22-4. No. 6 Bossier advances to the LHSAA Division II Non-Select state championship game where they will face No. 1 Wossman on Saturday at 6 p.m. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
08-03-2025
- Sport
- Yahoo
Bossier punches ticket to state tournament with win over Ellender
BOSSIER, La. (KTAL/KMSS) — Kerel Dean's 24 points helped Bossier to a 69-58 victory over A.J. Ellender in the state quarterfinals on Friday night in Bossier. Three players finished in double figures for the Bearkats, Jatravion Bonnery scored 18 and David Thomas chipped in 17. Bossier advances to state quarterfinals for 7th straight season with win over Plaquemine Bossier was playing with confidence all night and that showed through in the 2nd quarter when Javonte Small got a steal, ran the break and then passed the ball off the backboard to Dean who finished with a rim rattling dunk. The last time Bossier advanced to the state tournament as a No. 6 seed, they won the championship in 2023. Bossier will play district rival Minden in the Div. II (Non-Select) state semifinals in Lake Charles next week. The Bearkats beat Minden 66-52 when they played back in February. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
05-03-2025
- Sport
- Yahoo
Bossier advances to state quarterfinals for 7th straight season with win over Plaquemine
BOSSIER CITY, La. (KTAL/KMSS) — The Bossier Bearkats are state quarterfinals bound for the 7th straight season after a 48-39 win over Plaquemine in the 2nd round of the Division II (Non-Select) basketball playoffs. Bossier boys basketball defeats St. Martinsville to advance to the regional round of the LHSAA playoffs The Bossier defense stifled the Green Devils for much of the game holding them to just 26 points through three quarters. Senior Kerel Dean controlled much of the game on the offensive end, finishing with 17 points before fouling out with 2:24 remaining in the game. Just before Dean fouled out, Plaquemine cut the Bearkats 14 point lead down to three and the Green Devils had all the momentum. Kam Davenport came up big late in the game, getting to the basket to extend the Bossier lead to five at 44-39. Davenport finished with eight points, four in the 4th quarter. 'We got 6 seniors and all of them played in the state championship, they've been around four years and you normally don't keep that many seniors for four years,' said Bossier head coach Justin Collins. 'That helped us, that experience just knowing that any moment here you got to stay calm and stay the course and just keep going man.' LHSAA 2nd round basketball matchups; a look at the local teams involved Bossier will be back at home in the LHSAA State Quarterfinals on Friday night when they welcome No. 14 seed A.J. Ellender (who upset No. 3 seed Opelousas) to Bossier City at 7 p.m. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
