Black Stone Minerals Shares Fall After Q1 Revenue Misses Estimates

Black Stone Minerals (BSM) fell after its first-quarter revenue missed Wall Street expectations, despite steady production growth. The stock traded at $13.23 as of May 14, 2026, down from $14.24 before the earnings release. Management said increased natural gas activity in Louisiana’s Haynesville and Shelby Trough, along with strong oil output from the Permian Basin, helped keep sales flat from a year earlier. CFO Chris Bonner said the company is managing its hedge position as part of broader risk controls while monitoring pricing and operator activity. Investors are watching new development agreements, infrastructure upgrades tied to production and takeaway capacity, and the resolution of a well control incident that could affect future output. Commodity price volatility remains a key risk, with natural gas affected by winter weather and oil prices influenced by geopolitical factors.