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BSM
Black Stone Minerals LP
Icon Print
Oil & Gas
Upstream
Limited Partner
Exchange Listing Date 5/1/2015

Net Income Growth %

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Distribution Growth %

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Distribution Coverage Ratio

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Distributable Cash Flow (in thousands)

Year Over Year Quarter Over Quarter
9/30/2019 YoY % Change 9/30/2018 9/30/2019 QoQ % Change 6/30/2019
Net Income $70,247 15.59% $60,775 $70,247 -26.12% $95,087
Plus:
Depreciation, Depletion and Amortization$27,375 $29,273$27,375 $29,725
Interest Expense$5,395 $5,518$5,395 $5,652
Income Tax Expense$-353 $-2$-353 $35
Impairment of oil and gas properties  
Accretion of Asset Retirement Obligations$275 $278$275 $277
Unrealized Loss on Commodity Derivative Instruments$-10,644 $8,718$-10,644 $-26,256
Equity Based Compensation$3,867 $9,596$3,867 $3,816
Adjusted EBITDA $96,162 -15.76% $114,156 $96,162 -11.24% $108,336
Less:
Borrowing/Cash Used to Fund Capital Expenditures  
Deferred Revenue$-37 $1$-37 $-294
Cash Interest Expense$5,132 $5,287$5,132 $5,392
Restructuring Charges  
Asset Sale  
Maintenance CAPEX $2,750 
Acquisitions of Oil and NG Properties  
Cash Paid to NCI $47 
Preferred Unit Distributions$5,250 $5,250$5,250 $5,250
Distributable Cash Flow $85,817 -14.88% $100,821 $85,817 -12.42% $97,988
Actual Distributions $76,133 $68,563 $76,133 $76,113
GP Distributions
Subordinated Distributions $32,511 $35,642
Unit Holder Distributions $36,052 $40,471
Distribution Coverage 1.13 x 1.47 x 1.13 x 1.29 x

Distributable Cash Flow (in thousands)

Year To Date
YTD 2019 Q3 2019 Q2 2019 Q1
Net Income $174,351 $70,247 $95,087 $9,017
Plus:
Depreciation, Depletion and Amortization$84,933$27,375$29,725$27,833
Interest Expense$16,572$5,395$5,652$5,525
Income Tax Expense$-187$-353$35$131
Impairment of oil and gas properties0
Accretion of Asset Retirement Obligations$829$275$277$277
Unrealized Loss on Commodity Derivative Instruments$6,026$-10,644$-26,256$42,926
Equity Based Compensation$16,906$3,867$3,816$9,223
Adjusted EBITDA $299,430 $96,162 $108,336 $94,932
Less:
Borrowing/Cash Used to Fund Capital Expenditures0
Deferred Revenue$-328$-37$-294$3
Cash Interest Expense$15,793$5,132$5,392$5,269
Restructuring Charges0
Asset Sale0
Maintenance CAPEX$2,750$2,750
Acquisitions of Oil and NG Properties0
Cash Paid to NCI0
Preferred Unit Distributions$15,750$5,250$5,250$5,250
Distributable Cash Flow $265,465 $85,817 $97,988 $81,660
Actual Distributions $204,739 $76,133 $76,113 $52,493
GP Distributions 0
Subordinated Distributions $55,554 $35,642 $19,912
Unit Holder Distributions $73,052 $40,471 $32,581
Distribution Coverage 1.30 x 1.13 x 1.29 x 1.56 x

Distributable Cash Flow (in thousands)

Trailing Twelve Month
TTM 2019 Q3 2019 Q2 2019 Q1 2018 Q4
Net Income $338,489 $70,247 $95,087 $9,017 $164,138
Plus:
Depreciation, Depletion and Amortization$119,451$27,375$29,725$27,833$34,518
Interest Expense$22,009$5,395$5,652$5,525$5,437
Income Tax Expense$1,063$-353$35$131$1,250
Impairment of oil and gas properties0
Accretion of Asset Retirement Obligations$1,112$275$277$277$283
Unrealized Loss on Commodity Derivative Instruments$-94,773$-10,644$-26,256$42,926$-100,799
Equity Based Compensation$22,093$3,867$3,816$9,223$5,187
Adjusted EBITDA $409,444 $96,162 $108,336 $94,932 $110,014
Less:
Borrowing/Cash Used to Fund Capital Expenditures0
Deferred Revenue$-328$-37$-294$3
Cash Interest Expense$20,979$5,132$5,392$5,269$5,186
Restructuring Charges0
Asset Sale0
Maintenance CAPEX$5,500$2,750$2,750
Acquisitions of Oil and NG Properties0
Cash Paid to NCI$50$50
Preferred Unit Distributions$21,000$5,250$5,250$5,250$5,250
Distributable Cash Flow $362,202 $85,817 $97,988 $81,660 $96,737
Actual Distributions $280,514 $76,133 $76,113 $52,493 $75,775
GP Distributions 0
Subordinated Distributions $91,196 $35,642 $19,912 $35,642
Unit Holder Distributions $113,185 $40,471 $32,581 $40,133
Distribution Coverage 1.29 x 1.13 x 1.29 x 1.56 x 1.28 x

Distributable Cash Flow (in thousands)

All History
 
TTM 2019 Q32019 Q22019 Q12018 Q42018 Q32018 Q22018 Q12017 Q42017 Q32017 Q22017 Q12016 Q42016 Q32016 Q22016 Q12015 Q42015 Q32015 Q22015 Q12014 Q42014 Q32014 Q22014 Q12013 Q42013 Q32013 Q22013 Q12012 Q4
$338,489 $70,247 $95,087 $9,017 $164,138 $60,775 $28,690 $41,957 $19,360 $22,034 $54,174 $61,583 $-7,286 $37,535 $-20,810 $10,749 $-49,370 $53,892 $-122,766 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
                             
$119,451 $27,375 $29,725 $27,833 $34,518 $29,273 $30,292 $28,570 $30,051 $29,204 $28,900 $26,379 $22,833 $28,731 $29,202 $21,721 $20,884 $23,288 $32,235 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$22,009 $5,395 $5,652 $5,525 $5,437 $5,518 $5,280 $4,521 $4,034 $4,172 $3,981 $3,507 $2,774 $2,282 $1,443 $1,048 $888 $870 $1,715 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$1,063 $-353 $35 $131 $1,250 $-2 $-446 $1,507 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $679 $6,096 $92,886 $24,854 $118,362 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$1,112 $275 $277 $277 $283 $278 $273 $269 $266 $260 $253 $247 $212 $206 $200 $274 $270 $265 $269 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$-94,773 $-10,644 $-26,256 $42,926 $-100,799 $8,718 $27,057 $11,958 $11,357 $14,320 $-18,921 $-18,447 $29,738 $-2,511 $44,070 $9,955 N/A $-44,053 $35,332 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$22,093 $3,867 $3,816 $9,223 $5,187 $9,596 $9,124 $6,226 $14,431 $7,675 $6,278 $4,661 $10,018 $7,981 $19,239 $5,900 $4,948 $5,690 $6,119 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$409,444 $96,162 $108,336 $94,932 $110,014 $114,156 $100,270 $95,008 $79,499 $77,665 $74,665 $77,930 $58,289 $74,224 $74,023 $55,743 $54,001 $64,806 $71,266 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
                             
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $-35,110 $-11,964 $62,165 $28,809 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$-328 $-37 $-294 $3 N/A $1 $1 $-1,303 $416 $701 $643 $325 $695 $396 $-424 $203 $76 $94 $386 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$20,979 $5,132 $5,392 $5,269 $5,186 $5,287 $4,969 $4,316 $3,818 $3,946 $37,600 $3,292 $2,497 $2,083 $1,246 $851 $677 $628 $1,473 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $-4,208 N/A N/A N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A N/A $2 N/A N/A $7 $924 $21 N/A $92 $4,680 $4,853 N/A N/A N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$5,500 N/A N/A $2,750 $2,750 $2,750 $2,750 $3,250 $3,250 $3,250 $3,250 $3,750 $3,750 $3,750 $3,750 $25,110 N/A N/A $28,809 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $10,000 N/A N/A N/A N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$50 N/A N/A N/A $50 $47 $62 $52 $30 $24 $41 $25 $28 $29 $21 $33 $41 $45 $70 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$21,000 $5,250 $5,250 $5,250 $5,250 $5,250 $5,250 $5,275 $2,590 $666 $672 $1,114 $1,324 $1,324 $1,310 $1,804 $2,739 $2,973 $2,941 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$362,202 $85,817 $97,988 $81,660 $96,737 $100,821 $87,238 $83,416 $69,395 $69,078 $66,292 $68,500 $49,974 $66,642 $68,028 $48,172 $50,176 $61,070 $66,396 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$280,514 $76,133 $76,113 $52,493 $75,775 $68,563 $53,120 $52,493 $52,334 $51,556 $45,615 $45,404 $45,061 $45,017 $43,002 $42,864 $30,171 $50,916 $16,955 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 0 0 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$91,196 N/A $35,642 $19,912 $35,642 $32,511 $20,109 $19,912 N/A $19,913 $17,527 $17,484 $17,492 $17,491 $17,693 $17,451 N/A N/A 0 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
$113,185 N/A $40,471 $32,581 $40,133 $36,052 $33,011 $32,581 N/A $31,643 $28,088 $27,920 $27,569 $27,526 $25,309 $25,413 N/A N/A $16,955 N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
1.29 x 1.13 x 1.29 x 1.56 x 1.28 x 1.47 x 1.64 x 1.59 x 1.33 x 1.34 x 1.45 x 1.51 x 1.11 x 1.48 x 1.58 x 1.12 x 1.60 x 1.20 x 3.92 x N/E N/E N/E N/E N/E N/E N/E N/E N/E N/E
Net Income
Plus:
Depreciation, Depletion and Amortization
Interest Expense
Income Tax Expense
Impairment of oil and gas properties
Accretion of Asset Retirement Obligations
Unrealized Loss on Commodity Derivative Instruments
Equity Based Compensation
Adjusted EBITDA
Less:
Borrowing/Cash Used to Fund Capital Expenditures
Deferred Revenue
Cash Interest Expense
Restructuring Charges
Asset Sale
Maintenance CAPEX
Acquisitions of Oil and NG Properties
Cash Paid to NCI
Preferred Unit Distributions
Distributable Cash Flow
Actual Distributions
GP Distributions
Subordinated Distributions
Unit Holder Distributions
Distribution Coverage
 

No Incentive Distribution Rights to the General Partner. Distributions are made only to common class and unit holders.