Black stone minerals, l.p. (BSM)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)

281,463

214,368

338,489

329,017

262,620

295,560

150,782

112,043

137,527

157,153

130,507

146,006

71,022

20,188

-22,256

-5,899

-107,855

-101,305

-72,288

-68,275

116,602

169,187

0

0

0

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, and amortization

104,933

109,584

119,451

121,349

121,916

122,653

118,186

118,117

116,725

114,534

107,316

106,843

107,145

102,487

100,538

95,095

98,128

104,298

111,318

125,095

116,719

111,962

0

0

0

Impairment of oil and natural gas properties

0

-

-

-

0

-

-

-

-

-

-

-

-

6,775

99,661

124,515

242,198

249,569

0

0

0

-

-

-

-

Accretion of asset retirement obligations

1,112

1,117

1,112

1,115

1,111

1,103

1,086

1,068

1,048

1,026

972

918

865

892

950

1,009

1,078

1,075

1,422

1,305

1,184

1,060

0

0

0

Amortization of deferred charges

1,044

1,041

1,031

999

957

905

869

863

867

877

938

913

889

871

805

847

891

935

963

964

965

965

0

0

0

(Gain) loss on commodity derivative instruments

126,239

-4,955

95,319

52,515

-10,019

14,831

-76,679

-67,506

-12,156

26,902

11,218

28,371

-24,365

-36,464

20,543

69,161

81,267

90,288

94,447

46,699

62,978

37,336

0

0

0

Net cash (paid) received on settlement of commodity derivative instruments

-35,073

-27,862

-546

22,896

32,117

38,235

17,589

2,813

-6,558

-15,211

-17,908

-18,230

-28,486

-44,789

-55,913

-62,988

-66,356

-63,225

-47,954

-35,151

-17,587

1,947

0

0

0

Equity-based compensation

8,367

20,484

22,093

27,823

33,131

30,134

39,377

37,455

34,609

33,044

28,632

28,938

41,899

43,138

38,068

35,777

22,657

18,000

16,940

13,048

9,084

11,340

0

0

0

Exploratory dry hole expense

-1

3

4

45

6,789

6,785

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on sale of assets, net

-

-

-

-

-

3

2

2

9

931

952

952

1,037

4,793

9,625

9,621

9,546

4,873

0

0

0

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-44,997

-35,044

-26,912

-3,596

9,940

31,531

35,364

19,681

11,367

6,084

7,324

27,492

33,288

29,759

12,043

-7,120

-7,249

-33,586

-39,828

-51,373

-57,390

-17,210

0

0

0

Prepaid expenses and other current assets

453

167

268

338

71

-210

-64

-124

352

177

-448

-94

69

180

314

-4

-264

-95

-4,178

-5,787

-421

-453

0

0

0

Accounts payable, accrued liabilities, and other

-6,938

-1,191

-12,213

1,243

3,517

11,474

18,454

-2,534

-3,172

-5,671

-446

7,649

-6,149

-23,899

-21,516

-18,365

-2,973

11,221

5,304

7,634

8,297

8,003

0

0

0

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-251

51

-759

-660

-657

-563

-177

-2,589

0

0

0

Settlement of asset retirement obligations

-393

-380

-349

-371

-136

-129

-223

-196

-218

-228

-193

-279

-306

-317

-258

-165

-139

-143

-248

-238

-195

-145

0

0

0

NET CASH PROVIDED BY OPERATING ACTIVITIES

393,996

412,720

401,969

410,028

399,078

385,378

359,905

319,014

294,372

281,852

266,763

252,276

234,704

196,656

209,129

224,195

236,282

284,735

334,892

374,349

396,321

396,125

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions of oil and natural gas properties

23,133

43,051

60,660

108,688

111,873

124,081

443,027

415,235

409,450

425,667

89,273

71,297

179,507

141,136

0

0

0

-

-

-

-

45,552

0

0

0

Additions to oil and natural gas properties

36,697

64,782

110,900

143,416

152,353

166,970

137,172

97,434

85,813

55,842

54,310

74,376

70,172

79,003

74,882

58,135

65,742

54,244

59,175

66,566

73,847

74,201

0

0

0

Additions to oil and natural gas properties leasehold costs

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of other property and equipment

454

2,488

2,458

2,168

2,052

21

104

116

119

207

538

516

513

425

0

0

0

-

-

-

-

827

0

0

0

Proceeds from the sale of oil and natural gas properties

2,438

1,174

1,169

8,074

8,259

9,009

12,738

10,224

9,861

11,102

6,775

2,154

2,158

198

25,450

25,476

25,332

25,705

9,277

9,620

14,437

19,470

0

0

0

Proceeds from farmouts of oil and natural gas properties

35,739

61,504

106,494

130,975

135,975

124,522

91,184

60,205

37,186

19,171

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES

-22,853

-48,623

-68,912

-118,558

-128,017

-163,804

-481,492

-447,141

-450,329

-454,249

-134,264

-147,031

-250,546

-221,542

-190,536

-221,861

-112,874

-90,998

-112,787

-83,270

-76,298

-101,110

0

0

0

Proceeds from issuance of common units, net of offering costs

0

-43

2,125

31,427

40,356

40,537

39,560

40,534

32,596

32,458

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to unitholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Distributions to noncontrolling interests

-

-

-

-

-

211

191

168

147

120

118

123

103

111

124

140

189

208

0

0

0

-

-

-

-

Payments for capitalized offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Redemption of Series A redeemable preferred units

-

-

-

-

-

2,115

2,178

2,178

9,077

19,704

19,641

19,641

31,203

18,461

0

0

0

-

-

-

-

-

-

-

-

Borrowings under credit facility

303,500

334,500

361,500

371,000

366,500

373,500

348,500

308,000

294,500

292,500

253,000

278,500

391,000

349,000

377,500

352,000

272,600

245,600

0

0

0

-

-

-

-

Repayments under credit facility

350,500

350,500

0

0

0

-

-

-

-

220,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common equity units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Dividends on preferred units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Repayments under credit facility

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-121,500

-73,000

-545,600

-573,600

-272,600

-283,600

179,500

230,000

0

0

0

Note receivable-officers

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

101

0

0

0

Repurchases of common and subordinated units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,678

-

0

0

0

-

-

-

-

NET CASH USED IN FINANCING ACTIVITIES

-372,350

-361,392

-335,532

-294,635

-273,111

-221,802

117,117

127,711

148,249

168,267

-128,436

-107,528

24,834

21,425

-19,315

1,388

-126,763

-195,307

-224,527

-297,820

-329,633

-310,335

0

0

0

NET CHANGE IN CASH AND CASH EQUIVALENTS

-1,207

2,705

-2,475

-3,165

-2,050

-228

-4,470

-416

-7,708

-4,130

4,063

-2,283

8,992

-3,461

-722

3,722

-3,355

-1,570

-2,422

-6,741

-9,610

-15,320

0

0

0

SUPPLEMENTAL DISCLOSURE
Interest paid

19,446

20,470

21,008

21,015

20,632

19,761

18,327

17,063

15,931

14,761

13,516

11,669

8,862

6,535

4,744

3,214

3,643

5,478

7,827

10,466

12,231

12,754

0

0

0

NON-CASH ACTIVITIES
Accrued Predecessor distributions payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Additions to oil and natural gas properties financed through accounts payable and accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,130

0

0

0

Asset retirement obligations incurred

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Liabilities assumed as consideration for oil and natural gas properties acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,000

0

0

0

Deferred revenue (settled) assumed through acquisition of oil and natural gas properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,657

0

0

0

Common and Subordinated Units
Distributions to unitholders

290,163

304,439

304,007

296,366

273,545

250,121

0

209,565

201,888

194,799

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common units

11,206

16,929

18,424

18,424

12,890

10,579

9,411

9,411

8,781

8,185

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Preferred Units
Distributions to unitholders

-

-

-

-

-

690

0

2,015

2,848

3,777

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-