Black Stone Minerals, L.P.

Black Stone struck a standstill deal with its large Series B Preferred holder, AP Basileia SPV: the Partnership agreed not to redeem the Preferred Units through November 2027, while the holder agreed to vote with the board's recommendations and not transfer its units freely until then - settling governance terms around the sizable preferred stake originally sold in the 2017 Noble Energy deal financing.

security holder rights change

Black Stone made its largest acquisition to date: buying Noble Energy's fee mineral and royalty interests - roughly 1.1 million gross (140,000 net) mineral acres plus 380,000 gross acres of non-participating royalty interests and 600,000 gross acres of overriding royalty interests across 20 states (concentrated in Texas, Oklahoma and North Dakota) - for about $335 million cash. It funded the deal with $300 million from a new private placement of Series B Preferred Units to a Carlyle Group affiliate and a $35 million draw on its revolving credit facility.

asset acquisition disposition

Black Stone closed a batch of mineral-interest acquisitions across four deals in June 2017, funding part of the price with 2,798,729 common units worth about $44 million.

capital raising announcement

Black Stone signed merger agreements to acquire additional mineral interests, planning to fund part of the consideration with up to 2,494,562 common units (worth about $41.9 million) alongside cash, expected to close by the third quarter of 2017 - part of its ongoing unit-funded mineral-acquisition strategy.

capital raising announcement

Black Stone Minerals announced plans to tender for up to 100% of its own 117,963 outstanding Series A Preferred Units at par value ($1,000/unit) plus accrued yield - a buyback to retire its preferred equity, not a merger.

business combination

the New York Stock Exchange certified Black Stone Minerals, L.P.'s securities for listing, clearing them to begin trading.

listing compliance notice