Black Stone Minerals Surpasses Q3 Earnings Expectations with Strong Revenue

Black Stone Minerals reported its third-quarter earnings per share (EPS) of 41 cents, surpassing the consensus estimate of 35 cents. The company also announced quarterly revenue of $134.86 million, exceeding the expected $117.67 million. Chairman, CEO, and President Thomas L. Carter, Jr. expressed satisfaction with the quarter's performance, highlighting the company's consistent distribution of 37.5 cents per share despite challenges from a volatile commodity market.

During the quarter, Black Stone Minerals advanced its mineral acquisition program and secured a lease on new acreage, which is anticipated to support long-term development. The company also revised its joint exploration agreements with Aethon, ensuring a steady pace of future drilling and reclaiming acreage for other opportunities. Black Stone Minerals remains committed to its organic growth strategy and continues to seek partnerships with operators to enhance development on its properties.