Black Stone Minerals, L.P. revenue by segment BSM

Black Stone Minerals, L.P. splits its revenue into 3 lines in its filings. The largest line in fiscal 2025, which ended Dec 31, 2025 was Oil Reserves at $209.4 million, 50% of the total.

USD in millions. The percent under a figure is the change from the year before.

Line
FY 2026
Sep 30, 2026
FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
FY 2023
Dec 31, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 31, 2021
FY 2020
Dec 31, 2020
FY 2019
Dec 31, 2019
FY 2018
Dec 31, 2018
FY 2017
Dec 31, 2017
FY 2016
Dec 31, 2016
Revenue
471
422
439
501
784
506
297
493
595
430
261
Oil Reserves
253
+13.6%
share 53.8%
209
-22.2%
share 49.6%
269
-6.7%
share 61.2%
288
-14.3%
share 57.5%
336
+42.6%
share 42.9%
236
share 46.6%
—
264
-15.0%
share 53.5%
310
+82.8%
share 52.2%
170
share 39.5%
—
Natural Gas Reserves
193
+1.6%
share 40.9%
192
+21.3%
share 45.4%
158
-21.2%
share 35.9%
200
-53.9%
share 40.0%
435
+70.1%
share 55.5%
256
+84.0%
share 50.6%
139
-30.3%
share 46.8%
199
-19.7%
share 40.4%
248
+30.0%
share 41.7%
191
share 44.4%
—
Real Estate
25
+34.0%
share 5.3%
21
+71.3%
share 5.1%
12
-0.4%
share 2.8%
13
-4.2%
share 2.5%
13
-8.7%
share 1.7%
14
+57.3%
share 2.8%
9
-69.6%
share 3.1%
30
-17.6%
share 6.1%
36
-13.9%
share 6.1%
42
share 9.8%
—
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.

Company profile

Industry
Crude Petroleum & Natural Gas (SIC 1311)
Listed as
BSM (NYSE)
Fiscal year ends
December 31
Incorporated in
DE
Headquarters
Houston, TX
SEC filer status
Large accelerated filer
SEC CIK
1621434

Other Crude Petroleum & Natural Gas companies

Source: SEC EDGAR filings. This is company-reported data, not investment advice.