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HOUSTON--( BUSINESS WIRE )--Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone,” “BSM,” or “the Company”) today declared the distribution attributable to the fourth quarter of 2022. Additionally, the Partnership announced the date of its fourth quarter and full-year 2022 earnings call.
It was a flat week for energy income equities where gainers and decliners were roughly equal. Natural gas-weighted names were weak in response to the 7% decline in natural gas prices.
Black Stone Minerals LP ( BSM , Financial) is one of the largest owners of oil and natural gas mineral interests in the United States. The company's current financials are exceptional with sales coming in at $612 million and net income of $406 million for the recent quarter.
Black Stone Minerals has avoided much of the malaise in the underlying natural gas futures market, given its constructive hedges, providing clarity for investors. The company has also secured more attractive swap prices for its hedges in 2023.
Black Stone has hedges covering around 52% of its natural gas production and 60% of its oil production (based on my model) for 2023. These hedges have around $60 million in positive value at current strip.
Black Stone Minerals (BSM) closed the most recent trading day at $15.50, making no change from the previous trading session.
Black Stone Minerals, L.P. reported record third-quarter results due to increased production on its acreage. Distributable cash flow and distributions will increase in 2023 as low-priced hedges roll off.
Company executives usually talk an optimistic game. When they put their money where their mouth is, that's when I pay attention.
These two energy investments yield 8.7% and 12.6%. Both firms' revenues and net income were up more than 100% in Q1-Q3 '22.
Black Stone Minerals, L.P. (NYSE:BSM ) Q3 2022 Results Conference Call November 1, 2022 10:00 AM ET Company Participants Evan Kiefer - VP, Finance and IR Tom Carter - Chairman and CEO Jeff Wood - President and CFO Conference Call Participants Derrick Whitfield - Stifel Operator Ladies and gentlemen, thank you for standing by.