Black Stone Minerals (BSM) Misses Q2 Expectations
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Black Stone Minerals, L.P. Reports Second Quarter 2016 Results and Announces Cash Distribution; Increases Production Guidance Range for 2016
August 8, 2016 4:30 PM EDTHOUSTON--(BUSINESS WIRE)-- Black Stone Minerals, L.P. (NYSE: BSM) (Black Stone Minerals or the Partnership) today announced its financial and operating results for the second quarter of 2016 and provided updated guidance.
Highlights
Second quarter of 2016 average production of 31.6 MBoe/d. Oil and gas revenues of $56.2 million, lease bonus and other income of $15.1 million, and a loss on commodity derivative instruments of $30.7 million for quarter. Net loss of $20.8 million; Adjusted EBITDA (as defined below) of $74.0 million. Increases quarterly distribution for... More