Black Stone Minerals, L.P. Announces Substantial Distribution Increase and Schedules Earnings Call to Discuss First Quarter 2022 Results
April 25 2022 - 5:00PM
Business Wire
Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone,” “BSM,” or
“the Company”) today declared the distribution attributable to the
first quarter of 2022. Additionally, the Partnership announced the
date of its first quarter 2022 earnings call.
Common Distribution
The Board of Directors of the general partner has approved a
cash distribution for common units attributable to the first
quarter of 2022 of $0.40 per unit. This represents an increase of
approximately 48% over the common distribution paid with respect to
the prior quarter. Distributions will be payable on May 20, 2022 to
unitholders of record on May 13, 2022.
Thomas L. Carter, Jr., Black Stone Minerals’ Chief Executive
Officer and Chairman commented, “We are pleased to announce a
distribution for the first quarter of 2022 that is almost 50% above
the distribution paid with respect to the fourth quarter of 2021.
We are seeing robust cash flows in this constructive commodity
price environment, and our very low debt balance allows us to
return a higher percentage of those cash flows to our
unitholders.”
Earnings Conference Call
The Partnership is scheduled to release details regarding its
results for the first quarter 2022 after the close of trading on
May 2, 2022. A conference call to discuss these results is
scheduled for May 3, 2022 at 10:30 a.m. Central time (11:30 a.m.
Eastern time). The conference call will be broadcast live in
listen-only mode on the company’s investor relations website at
www.blackstoneminerals.com. If you would like to ask a question,
the dial-in number for the conference call is 877-447-4732 for
domestic participants and 615-247-0077 for international
participants. The conference ID for the call is 5993962. Call
participants are advised to call in 10 minutes in advance of the
call start time.
A telephonic replay of the conference call will be available
approximately two hours after the call through June 3, 2022, at
855-859-2056 for domestic replay and 404-537-3406 for international
replay. The conference ID for the replay is 5993962.
About Black Stone Minerals, L.P.
Black Stone Minerals is one of the largest owners of oil and
natural gas mineral interests in the United States. The Company
owns mineral interests and royalty interests in 41 states in the
continental United States. Black Stone believes its large,
diversified asset base and long-lived, non-cost-bearing mineral and
royalty interests provide for stable to growing production and
reserves over time, allowing the majority of generated cash flow to
be distributed to unitholders.
Information for Non-U.S. Investors
This press release is intended to be a qualified notice under
Treasury Regulation Section 1.1446-4(b). Although a portion of
Black Stone Minerals’ income may not be effectively connected
income and may be subject to alternative withholding procedures,
brokers and nominees should treat 100% of Black Stone Minerals’
distributions to non-U.S. investors as being attributable to income
that is effectively connected with a United States trade or
business. Accordingly, Black Stone Minerals’ distributions to
non-U.S. investors are subject to federal income tax withholding at
the highest marginal rate, currently 37.0% for individuals.
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version on businesswire.com: https://www.businesswire.com/news/home/20220425005921/en/
Black Stone Minerals, L.P. Contacts
Jeff Wood President and Chief Financial Officer
Evan Kiefer Vice President, Finance and Investor Relations
Telephone: (713) 445-3200
investorrelations@blackstoneminerals.com
Black Stone Minerals (NYSE:BSM)
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