Black Stone Minerals Q1 net income falls to $13.3 million on $64.6 million derivative loss
Black Stone Minerals reported first quarter 2026 results on May 4, 2026. Net income fell to $13.3 million from $15.9 million a year earlier, weighed down by a $64.6 million loss on commodity derivatives, even though production and oil and gas revenue rose. The partnership also declared a $0.30 per unit distribution for the quarter, with distribution coverage of 1.20x.
Key points
- Net income was $13.3 million versus $15.9 million in Q1 2025; the derivative loss included a $52.3 million unrealized loss.
- Production averaged 37.0 MBoe/d versus 35.5 MBoe/d a year earlier; oil and gas revenue was $117.5 million versus $108.3 million.
- Adjusted EBITDA was $87.0 million, essentially flat year over year; distributable cash flow was $76.5 million versus $78.5 million.
- Distribution of $0.30 per unit is payable May 15, 2026 to unitholders of record on May 8, 2026.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.