Overview

• Black Stone Q3 adjusted EBITDA beats estimates, reflecting operational efficiency

• Oil and gas revenue for Q3 decreased 2% from the previous quarter

• Company announces leadership succession plan effective January 2026, appoints Fowler Carter and Taylor DeWalch as co-CEOs

Outlook

• Company did not provide specific financial guidance for the current quarter or full year in the statement

Result Drivers

• PRODUCTION INCREASE - Mineral and royalty production rose 5% in Q3 compared to the prior quarter

• DEVELOPMENT ACTIVITY - Aethon Energy's development program on track with wells turned to sales and more expected in 2025

• ACQUISITION STRATEGY - Acquired $20.3 mln of mineral and royalty interests in Q3, focusing on Shelby Trough area

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

• Wall Street's median 12-month price target for Black Stone Minerals LP is $15.00, about 12.7% above its November 3 closing price of $13.10

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nBwbhFWNRa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)