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Black Stone Minerals Q2 results post YOY gains

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Black Stone Minerals Q2 results post YOY gains

Texas-based Black Stone Minerals LP on Aug. 5 reported a second-quarter GAAP net income of $95.1 million, increasing from the $28.7 million noted for the second quarter of 2018.

Total revenue came in at $163.6 million compared to the $109.3 million reported a year ago. Total operating expense was pegged at $63 million, compared to the $75.8 million posted during the second quarter of 2018.

Average production came in at 52,200 barrels of oil equivalents per day in the second quarter, increasing from the 44,700 boe/d reported a year ago.

Realized prices, without derivatives, came in at $26.90/boe during the second quarter, compared to the $32.22/boe posted during the same period in 2018.

The partnership also increased its production guidance for the year. Black Stone expects total production to range from 47,500 boe/d to 50,500 boe/d, up from the previous guidance spanning 45,000 boe/d to 48,000 boe/d.