Black Stone Minerals, L.P.
blackstoneminerals.comHow Do They Make Money?
Sources
-
10-K for FY2025, filed Feb 24, 2026
FY2025 revenue by product or service (Revenue from contracts with customers) ↗
Revenue, FY2025
$469.9M
Sources
-
10-K for FY2025, filed Feb 24, 2026
$469.9M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Oil and condensate sales
|
50%
FY2022: 43%
|
Oil and condensate sales, FY2025
$209.4M Sources
|
|
Natural gas and natural gas liquids sales
|
45%
FY2022: 55%
|
Natural gas and natural gas liquids sales, FY2025
$191.6M Sources
|
|
Lease bonus and other income
|
5.1%
FY2022: 1.7%
|
Lease bonus and other income, FY2025
$21.4M Sources
|
Do Revenues Turn Into Profits?
Yes. It kept 64 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 24, 2026
Sources
How Are They Changing?
Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Oil and condensate sales share of revenue from contracts with customers
vs 52.3% in Q2 FY2025
Sources
10-Q for Q2 FY2026, filed Aug 4, 2026
Open tableView ↗
Growing. Revenue grew 31% in 4 years, from $359.3M in FY2021 to $469.9M in FY2025, about 7% a year.
Revenue over time
Oil and condensate sales
Natural gas and natural gas liquids sales
Lease bonus and other income
$1B$500M$0
$235.8M
$255.7M
$336.3M
$434.9M
$288.3M
$200.3M
$269.1M
$157.9M
$209.4M
$191.6M
100%50%0%
47%
51%
43%
55%
58%
40%
61%
36%
50%
45%
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