Black Stone Minerals, L.P. Overview
Pro stress-test →Black Stone Minerals is a publicly traded Delaware limited partnership that owns oil and natural gas mineral interests located in 41 states in the continental United States across all major onshore producing basins. The Partnership also owns nonparticipating royalty interests and overriding royalty interests. This positions the company as a diversified mineral and royalty-focused energy producer capturing upstream value across multiple geographies and asset classes.
Strategic Profile
Pro stress-test →The company delivered 35.9 MBoe/d of mineral and royalty production in Q1 2026, representing 16% growth quarter-over-quarter. With an 8.17% dividend yield and a market cap of approximately $3.1B, Black Stone targets income-focused investors seeking stable cash distribution from energy minerals. The company is making strategic investments in seismic data acquisition to unlock long-term value and support operator development activities.
Competitive Landscape
Pro stress-test →Black Stone Minerals operates in the mineral interests and royalty segment, holding mineral interests in approximately 16.9M gross acres, nonparticipating royalty interests in 1.8M acres, and overriding royalty interests in 1.6M acres across 41 states. Competitors in this space include other publicly traded mineral and royalty trusts such as Permian Basin Royalty Trust, Sabine Royalty Trust, and Linn Energy, which target similar distributions and upstream acreage exposure without operational responsibility.
Industry Context
Black Stone Minerals, L.P. operates in Oil and Gas Minerals & Royalties.
Key facts
Founded: 1876 · Headquarters: Houston, Texas · Revenue: $117.5M (Q1 2026) · Market cap: $3.1B