Black Stone Minerals LP (BSM) Q4 2019 Earnings Call Transcript

Black Stone Minerals LP (BSM) Q4 2019 Earnings Call Transcript

Black Stone Minerals LP ( NYSE:BSM ) Q4 2019 Earnings Call Feb 25, 2020 , 10:00 a.m. ET. Ladies and gentlemen, thank you for standing by and welcome to the Q4 2019 Black Stone Minerals, L.P.. Good morning to everyone and thank you for joining us either by phone or online for Black Stone Minerals' fourth quarter and full year 2019 earnings conference call.. We saw 3.5 net wells added in the Shelby Trough-dominated Haynesville program, which was weighted to the first half of the year, for sure, and is higher than the 2.8 we added in '18.. We continued to see well adds in the Bakken/Three Forks and Eagle Ford with 2.3 and 1.3 net wells added in '19 respectively.. In terms of permitting activity, Black Stone saw roughly 1,875 permits added on its acreage in '19.. On the acquisition front, we did $44 million of acquisitions in '19, most of which was done in the first half of the year.. It's a difficult time to be negotiating transactions in natural gas deals right now.. Rig count has dropped by 27% since the end of 2018, as most operators are now trying to live within cash flow and have