Black Stone Minerals: 2024 Distribution Coverage Projected At Near 1.0x [Seeking Alpha]
Black Stone Minerals, L.P. Common units representing limited partner interests (BSM)
NASDAQ:AMEX Investor Relations:
investor.blackstoneminerals.com
Company Research
Source: Seeking Alpha
This is despite Aethon's decision to reduce near-term Shelby Trough drilling, although that decision may affect 2025 production more. Completion of Aethon's DUCs will minimize the 2024 impact. Black Stone's distribution coverage looks to be around 0.98x in 2024 at strip. This is an $8 million projected shortfall that can be covered by Black Stone's $70 million in cash on hand. Looking for more investing ideas like this one? Get them exclusively at Distressed Value Investing. Learn More » Black Stone Minerals, L.P. NYSE: BSM provided 2024 guidance including expectations of approximately 41,000 BOEPD (24% oil) in average production. This was higher than what I had previously expected for Black Stone in terms of 2024 production, although the oil cut is lower than what I had modeled in December 2023. Based on guidance, Black Stone is projected to generate $391 million in distributable cash flow (or $1.86 per common unit) during 2024 at current strip prices. This results in 0.
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High impacting Black Stone Minerals, L.P. Common units representing limited partner interests news events
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BSM
News
- Black Stone Minerals, L.P. Declares Distribution for Common Units and Schedules Earnings Call to Discuss First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Black Stone Minerals, L.P. Declares Distribution for Common Units and Schedules Earnings Call to Discuss First Quarter 2024 ResultsBusiness Wire
- Black Stone Minerals, L.P. Announced Participation in Upcoming Investor Relations Event [Yahoo! Finance]Yahoo! Finance
- Black Stone Minerals, L.P. Announced Participation in Upcoming Investor Relations EventBusiness Wire
- Black Stone Minerals: A Distribution Cut Is Coming [Seeking Alpha]Seeking Alpha
BSM
Earnings
- 2/19/24 - Beat
BSM
Sec Filings
- 4/15/24 - Form 4
- 4/9/24 - Form 4
- 4/9/24 - Form 4
- BSM's page on the SEC website