Black Stone Minerals, L.P. Closes ACLCO Acquisition, Sets Second Quarter Earnings Call Date, and Announces Upcoming Investor Events

July 5, 2017

HOUSTON–(BUSINESS WIRE)–Black Stone Minerals, L.P. (NYSE:BSM) (“Black Stone Minerals,” “Black
Stone,” or “the Partnership”) today announces that it has closed on the
previously announced acquisition of certain mineral and royalty
interests in East Texas previously owned by Angelina County Lumber
Company (“ACLCO”). Black Stone acquired approximately 138,000 gross
(74,000 net) acres, including approximately 18,000 net acres in the
Shelby Trough, in exchange for approximately 2.9 million common units
and $4.8 million in cash.

The Partnership is scheduled to release details regarding its results
for the second quarter of 2017 after the close of trading on August 7,
2017. A conference call to discuss these results is scheduled for August
8, 2017 at 9:00 a.m. Central time (10:00 a.m. Eastern time). Dial-in
information is provided below. A telephonic replay of the conference
call will be available approximately two hours after the call through
August 31, 2017.

Call Type   Phone Number   Conference ID
Domestic participant 1-877-447-4732 47678656
Domestic replay 1-855-859-2056 47678656
International participant 1-615-247-0077 47678656
International replay 1-404-537-3406 47678656

The conference call will be webcast live and can be accessed through the
Investor Relations section of Black Stone’s website at www.blackstoneminerals.com.
A recording of the conference call will be available at that site
through August 31, 2017.

Members of management from Black Stone Minerals will also be
participating in the following investor events:

  • EnerCom’s The Oil & Gas Conference 22 – August 15, 2017 in Denver,
    Colorado. Management will participate in 1×1 meetings at this event
    and is also scheduled to give a presentation at 10:55 a.m. Mountain
    time that will be available via webcast in the Investor Relations
    section of the Partnership’s website.
  • Citi 2017 One-on-One MLP/Midstream Infrastructure Conference – August
    16, 2017 in Las Vegas, Nevada. Management will participate in 1×1
    meetings at this event.

Any updated presentation materials for these events will be made
available in the Investor Relations section of the Black Stone website
prior to the respective event.

About Black Stone Minerals, L.P.

Black Stone Minerals is one of the largest owners of oil and natural gas
mineral interests in the United States. The Partnership owns mineral
interests and royalty interests in over 40 states and 60 onshore basins
in the continental United States. The Partnership also owns and
selectively participates as a non-operating working interest partner in
established development programs, primarily on its mineral and royalty
holdings. The Partnership expects that its large, diversified asset base
and long-lived, non-cost-bearing mineral and royalty interests will
result in production and reserve growth, as well as increasing quarterly
distributions to its unitholders.

Contacts

Black Stone Minerals, L.P. Contact
Brent Collins,
713-445-3200
Vice President, Investor Relations
[email protected]