BSM - Black Stone Minerals: Reduced Production Guidance Due To Low Natural Gas Prices
2024-05-10 08:06:08 ET
Summary
- Black Stone Minerals reduced its 2024 production guidance by around 4%.
- The Company's oil cut may end up slightly higher than previously expected.
- BSM is projected to have 1.17x distribution coverage with its reduced distribution.
- It is spending on acquisitions that will benefit its longer-term cash flow.
- I expect Black Stone's distributable cash flow to rebound to $2+ per unit in 2026.
Black Stone Minerals ( BSM ) lowered its 2024 production guidance by approximately 4% due to weak natural gas prices causing production curtailments as well as delays in bringing new wells online....
Black Stone Minerals: Reduced Production Guidance Due To Low Natural Gas Prices