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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 157,153 $ 20,188 $ (101,305)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 114,534 102,487 104,298
Impairment of oil and natural gas properties 0 6,775 249,569
Accretion of asset retirement obligations 1,026 892 1,075
Amortization of deferred charges 877 871 935
(Gain) loss on commodity derivative instruments (26,902) 36,464 (90,288)
Net cash received (paid) on settlement of commodity derivative instruments 15,211 44,789 63,225
Equity-based compensation 33,044 43,138 18,000
(Gain) loss on sale of assets, net (931) (4,793) (4,873)
Changes in operating assets and liabilities:      
Accounts receivable (6,084) (29,759) 33,586
Prepaid expenses and other current assets (177) (180) 95
Accounts payable and accrued liabilities (3,585) (23,029) 11,221
Deferred revenue (2,086) (870) (660)
Settlement of asset retirement obligations (228) (317) (143)
NET CASH PROVIDED BY OPERATING ACTIVITIES 281,852 196,656 284,735
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisitions of oil and natural gas properties (425,667) (141,136) (62,278)
Additions to oil and natural gas properties (58,648) (80,179) (54,244)
Purchases of other property and equipment (207) (425) (181)
Proceeds from the sale of oil and natural gas properties 11,102 198 25,705
Proceeds from farmouts of oil and natural gas properties 19,171 0 0
NET CASH USED IN INVESTING ACTIVITIES (454,249) (221,542) (90,998)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of common units of Black Stone Minerals, L.P., net of offering costs 32,458 0 399,087
Proceeds from issuance of Series B cumulative convertible preferred units of Black Stone Minerals, L.P., net of offering costs 293,469 0 0
Distributions to noncontrolling interests (120) (111) (208)
Redemption of Series A redeemable preferred units (19,704) (18,461) (40,747)
Borrowings under credit facility 292,500 349,000 245,600
Repayments under credit facility (220,500) (99,000) (573,600)
Debt issuance costs (3,075) (239) (1,376)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 168,267 21,425 (195,307)
NET CHANGE IN CASH AND CASH EQUIVALENTS (4,130) (3,461) (1,570)
Cash and cash equivalents — beginning of the year 9,772 13,233 14,803
Cash and cash equivalents — end of the year 5,642 9,772 13,233
SUPPLEMENTAL DISCLOSURE      
Interest paid 14,761 6,535 5,478
NON-CASH ACTIVITIES      
Conversion of Series A redeemable preferred units 6,624 6,064 39,240
Accrued distributions payable to Series A redeemable preferred unitholders (660) (1,324) (2,016)
Accrued distributions payable to Series B cumulative convertible preferred unitholders (1,925) 0 0
Additions to oil and natural gas properties financed through accounts payable and accrued liabilities 34,247 26,553 21,496
Public offering costs capitalized and offset against proceeds from initial public offering 0 0 7,587
Asset retirement obligations incurred and revisions in estimated costs 391 2,009 272
Accrued distribution equivalent rights 2,694 847 159
Predecessor      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 0 0 (450)
CASH FLOWS FROM FINANCING ACTIVITIES      
Distributions to unitholders 0 0 (126,383)
Repurchases of common and subordinated units 0 0 (3,015)
NON-CASH ACTIVITIES      
Accrued distributions payable to Predecessor unitholders 0 0 (53,248)
Common and Subordinated Units      
CASH FLOWS FROM FINANCING ACTIVITIES      
Distributions to unitholders (194,799) (175,943) (81,087)
Repurchases of common and subordinated units (8,185) (27,436) 0
Preferred Units      
CASH FLOWS FROM FINANCING ACTIVITIES      
Distributions to unitholders $ (3,777) $ (6,385) $ (13,578)