Black stone minerals, l.p. (BSM)
Income statement / 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
REVENUE
Revenue from contracts with customers

460,830

492,776

535,521

580,674

588,899

594,737

535,642

475,862

431,727

402,757

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

11,217

28,371

-24,365

-36,464

20,544

69,161

81,267

90,288

94,447

46,699

62,978

37,336

0

0

0

TOTAL REVENUE

587,069

487,821

630,840

633,189

578,880

609,568

458,963

408,356

419,571

429,659

390,929

400,989

321,034

260,833

304,161

342,010

366,244

392,924

462,061

457,836

511,970

548,321

0

0

0

OPERATING (INCOME) EXPENSE
Lease operating expense

16,200

17,665

19,145

19,018

19,459

18,415

17,141

17,481

17,339

17,280

17,482

17,920

18,055

18,755

19,222

19,139

20,339

21,583

22,062

23,175

22,497

21,233

0

0

0

Production costs and ad valorem taxes

58,317

60,533

62,344

64,108

64,031

64,364

59,099

53,007

50,497

47,474

47,476

45,155

40,304

35,464

32,819

31,766

34,573

35,767

42,236

46,242

47,245

49,575

0

0

0

Exploration expense

394

397

1,533

1,503

7,944

7,943

6,784

6,758

59

618

618

616

1,199

645

1,221

3,032

2,561

2,592

2,454

0

0

-

0

-

-

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

-

-

-

-

General and administrative

53,995

63,353

66,046

73,940

79,405

76,712

85,992

81,214

78,883

77,574

72,925

72,297

72,950

73,139

75,857

78,174

79,758

77,175

70,688

67,338

62,132

62,765

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

(Gain) loss on sale of assets, net

-

-

1

1

-

3

2

2

9

931

952

952

1,037

4,793

9,625

9,621

9,546

4,873

0

0

0

-

-

-

-

TOTAL OPERATING EXPENSE

285,982

252,649

269,630

281,032

293,865

291,187

288,286

277,643

264,542

257,575

245,837

242,797

240,160

233,364

322,236

344,702

470,682

488,779

525,980

515,174

383,293

366,612

0

0

0

INCOME (LOSS) FROM OPERATIONS

301,087

235,172

361,210

352,157

285,015

318,381

170,677

130,713

155,029

172,084

145,092

158,192

80,874

27,469

-18,075

-2,692

-104,438

-95,855

-63,919

-57,338

128,677

181,709

0

0

0

OTHER INCOME (EXPENSE)
Interest and investment income

144

159

197

206

196

183

142

80

76

49

35

504

509

656

663

221

210

58

47

32

7

28

0

0

0

Interest expense

20,337

21,435

22,009

22,132

21,760

20,756

19,353

18,007

16,708

15,694

14,434

12,544

10,006

7,547

5,661

4,249

4,521

6,418

8,747

11,317

13,021

13,509

0

0

0

Other income (expense)

569

472

-909

-1,214

-831

-2,248

-682

-743

-870

714

-188

-146

-355

-390

817

821

894

910

331

348

939

959

0

0

0

TOTAL OTHER EXPENSE

-19,624

-20,804

-22,721

-23,140

-22,395

-22,821

-19,893

-18,670

-17,502

-14,931

-14,587

-12,186

-9,852

-7,281

-4,181

-3,207

-3,417

-5,450

-8,369

-10,937

-12,075

-12,522

0

0

0

NET INCOME (LOSS)

281,463

214,368

338,489

329,017

262,620

295,560

150,784

112,043

137,527

157,153

130,505

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

Net (income) loss attributable to noncontrolling interests

-

-

23

45

-

24

-6

-48

-16

-34

-24

-12

-5

-12

-12

-144

0

-

0

0

-

-

-

-

0

Distributions on Series A redeemable preferred units

-

-

0

0

-

25

690

1,356

2,028

3,117

3,777

4,435

5,073

5,763

7,411

7,897

0

-

0

0

-

-

-

-

-

Distributions on Series B cumulative convertible preferred units

21,000

21,000

21,000

21,000

21,000

21,000

17,675

12,425

7,175

1,925

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Distributions on Series B cumulative convertible preferred units

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

DISTRIBUTIONS ON PREFERRED UNITS SUBSEQUENT TO INITIAL PUBLIC OFFERING

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

NET INCOME (LOSS) ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON AND SUBORDINATED UNITS

260,463

193,368

317,466

307,972

241,623

274,511

132,425

98,310

128,340

152,145

126,752

141,583

65,954

14,437

73,967

-69,839

0

-

0

0

-

-

-

-

0

ALLOCATION OF NET INCOME (LOSS):
General partner interest

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

-

-

-

-

-

-

Allocation of net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

NET INCOME (LOSS) ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON AND SUBORDINATED UNITS

260,463

193,368

317,466

307,972

241,623

274,511

132,425

98,310

128,340

152,145

126,752

141,583

65,954

14,437

73,967

-69,839

0

-

0

0

-

-

-

-

0

NET INCOME (LOSS) ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON AND SUBORDINATED UNIT:
Oil and condensate sales
Revenue from contracts with customers

258,067

263,678

277,389

291,846

294,999

310,278

283,551

242,200

202,237

169,728

156,898

158,317

155,608

142,382

141,535

142,883

154,623

163,538

188,309

215,270

233,911

257,390

0

0

0

Natural gas and natural gas liquids sales
Revenue from contracts with customers

174,267

199,265

234,686

256,426

256,638

248,243

218,495

200,462

196,511

190,967

179,782

173,721

145,425

122,836

108,924

102,129

109,490

116,018

143,701

157,424

180,890

207,456

0

0

0

Lease bonus and other income
Revenue from contracts with customers

28,496

29,833

23,446

32,402

37,262

36,216

33,596

33,200

32,979

42,062

43,032

40,580

44,366

32,079

33,158

27,837

20,864

23,080

35,604

38,443

34,191

46,139

0

0

0

Common Units
Allocation of net income (loss)

238,332

169,375

218,225

182,416

132,238

154,662

85,458

72,641

87,201

98,389

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Per unit (basic) (in dollars per share)

0.34

0.22

0.32

0.45

0.02

0.79

0.27

0.17

0.23

0.15

0.16

0.33

0.37

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average units outstanding (basic) (in shares)

206,631

207,442

205,957

150,101

109,420

108,526

106,706

105,250

103,774

93,086

101,623

97,990

96,901

-

-

-

-

-

-

-

-

-

-

-

-

Per unit (diluted) (in dollars per share)

0.34

0.23

0.32

0.44

0.02

0.78

0.27

0.17

0.23

0.15

0.16

0.33

0.37

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average units outstanding (diluted) (in shares)

206,631

192,442

205,957

165,070

110,035

169,262

106,706

105,250

103,838

92,397

101,623

97,990

97,590

-

-

-

-

-

-

-

-

-

-

-

-

Per unit (in dollars per share)

-

-

-

-

-

-

-

-

-

-

0.31

0.28

0.28

-

-

-

-

-

-

-

-

-

-

-

-

Subordinated units
Allocation of net income (loss)

22,131

23,993

99,241

125,556

109,385

119,849

46,967

25,669

41,139

53,756

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Per unit (basic) (in dollars per share)

0.00

0.23

0.00

0.39

0.02

0.79

0.27

0.06

0.13

0.03

0.05

0.22

0.26

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average units outstanding (basic) (in shares)

0

-1,473

0

56,104

96,329

96,343

96,329

96,329

95,395

94,671

95,388

95,388

95,149

-

-

-

-

-

-

-

-

-

-

-

-

Per unit (diluted) (in dollars per share)

0.00

0.23

0.00

0.39

0.02

0.79

0.27

0.06

0.13

0.03

0.05

0.22

0.26

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average units outstanding (diluted) (in shares)

0

-1,473

0

56,104

96,329

97,331

96,329

96,329

95,395

94,671

95,388

95,388

95,149

-

-

-

-

-

-

-

-

-

-

-

-

Subordinated Units
Per unit (in dollars per share)

-

-

-

-

-

-

-

-

-

-

0.20

0.18

0.18

-

-

-

-

-

-

-

-

-

-

-

-