Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the securities laws. All statements, other than statements of historical fact, included in this presentation that address activities,…
Black Stone Minerals at a Glance Black Stone Minerals, L.P. is the largest publicly traded yield vehicle focused on oil and gas mineral and royalty interests in the United States Over 20 million mineral and royalty acres with…
The Black Stone Business Model Mineral Ownership Represents Meaningful % of Well Economics1 Aggregate Minerals Capitalize on Unlock Opportunities Value Preserve Actively Manage Liquidity Properties Drive Organic Cash…
Acquisitions Over Time 1980 1992 1998 - 2001 2002 - 2010 2010 - IPO IPO - Present BAKKEN / THREE FORKS NIOBRARA / CODELL MARCELLUS / UTICA SCOOP / STACK PERMIAN BASIN (Wolfcamp Spraberry Bone Spring) - BSM acreage…
Active Management 20 million acres of opportunity leads to organic growth with no incremental capital requirements Black Stones team of landmen, engineers and geologists actively promote its acreage to industry operators BSM…
Active Management Examples Black Stones high net mineral positions present a strategic advantage to promote and accelerate development Creative Structuring: In-House Development: Shelby Trough Development PepperJack Prospect…
Active Management Matters By actively managing the asset base, Black Stone was able to maintain royalty volumes through an industry downturn and then accelerate production during recovery Creative 1Structuring: Royalty Production…
Active Management: Opportunities Black Stone has leading positions in several of todays most active resource plays, as well as a perpetual call option across the lower 48 in dozens of prospective plays WILLISTON BASIN: BAKKEN/THREE…
Maintaining Balance Sheet Strength Strategy: Maximize financing flexibility for new acquisition opportunities Funding sources Public markets Approx. 42 million issued through ATM through 2Q18 Private capital 300 million convertible…
Generating Returns Long history of returning cash to equity holders 7% cash yield supported by growing free cash flows 3 billion returned to investors through distributions over the past 20 years 3x return on invested capital to…
Second Quarter Highlights 2Q17 2Q18 Total Production (MBoe/d) 20% 37.3 44.7 Royalty Production (MBoe/d) 47% 21.2 31.1 Equity Capital Raised Adjusted EBITDA (MM) 34% 75 100 Drilling Capital, net (MM) 72% 16 4 Common…
Growing Royalty Volumes Historical Production Volumes by Interest Type 35 In late 2016, Black Stone 30 decided to shift away 25 from the working interest MBoe/d 20 business 15 10 Significant working 5 interest farmouts in…
Near Term Growth Drivers Haynesville/Bossier Permian Minerals position concentrated in Shelby Trough, which is Black Stone has 62,000 net royalty acres in the core of delivering the best economics across the entire play the Midland and…
Key Messages Investors gain exposure to industry-leading minerals portfolio with significant exposure to two of the most active areas in the United States Upside exposure from increase in commodity prices, accelerated…
Loading...
