Black Stone Minerals stock raises payout as Q3 cash flow climbs

Published on 11/05/2026 at 02:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Black Stone Minerals stock drew attention after a stronger quarterly cash flow performance. The partnership also expanded its Shelby Trough development program.

Cash Flow Supports Distribution Growth

Black Stone Minerals increased its quarterly distribution after third-quarter distributable cash flow reached 93.0 million US dollars.
Mineral and royalty production rose 6 percent sequentially to 34.5 MBoe per day in the third quarter.
The expanded Caturus agreement increases the development footprint in the Shelby Trough, while new production is expected from 2027.

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Black Stone Minerals reported third-quarter results on Monday, November 2, 2026, with higher cash generation supporting a second consecutive quarterly distribution increase. In its investor relations release, the partnership said distributable cash flow reached 93.0 million US dollars for the three months ended September 30.

Distribution Increase Follows Cash Flow Growth

Black Stone approved a distribution of 0.35 US dollars per common unit for the quarter, up 9 percent from the previous quarter and 17 percent from the first-quarter distribution. The payment is scheduled for November 13, 2026, to unitholders of record at the close of business on November 6. Distribution coverage was 1.25 times.

Adjusted EBITDA rose to 104.1 million US dollars from 91.3 million in the preceding quarter. Net income was 52.4 million US dollars, while a 30.2 million US dollar loss on commodity derivatives reduced total revenue to 99.7 million US dollars despite oil and gas revenue of 122.7 million.

Shelby Trough Enters Next Development Phase

Mineral and royalty production averaged 34.5 MBoe per day, 6 percent above the second quarter, while total production reached 35.6 MBoe per day. Natural gas represented 73 percent of total production. Management said the expanded Caturus agreement increases the contract area by 730,000 gross acres to 950,000 gross acres.

Adamas turned seven gross wells to sales during the quarter. Revenant had drilled two wells expected to begin production by year-end, while two additional wells were spudded in October. Caturus expects its first development wells under the original agreement to begin production in the first half of 2027.

Black Stone Minerals Business Profile

Black Stone Minerals owns and manages oil and natural gas mineral and royalty interests across the continental United States. Its portfolio spans 41 states and more than 60 productive basins, with a focus on long-lived, non-cost-bearing interests that generate royalty cash flow. The partnership combines a broad asset base with targeted acquisitions and structured development agreements, including programs in the Shelby Trough.