Black Stone Minerals reported second quarter 2026 total revenue of $149.0 million and net income of $106.4 million, or $0.47 per unit. The results were supported by higher realized prices which helped offset a sequential decline in production volumes, allowing for an increase in the unitholder distribution.
Key Highlights
- The partnership increased its quarterly distribution by 7% to $0.32 per unit, supported by a distribution coverage ratio of 1.18x.
- Total production for the second quarter was 33.5 thousand barrels of oil equivalent per day (MBoe/d), a sequential decrease of 9% primarily due to lower natural gas volumes in the Haynesville.
- The average realized price per barrel of oil equivalent (Boe) increased 7% sequentially to $37.82, partially offsetting the lower volumes.
- The company continued its acquisition program, purchasing an additional $37.2 million in mineral and royalty interests during the quarter.