MLP Black Stone goes public with vast mineral holdings

摘要

In a depressed oil price environment, newly public MLP Black Stone Minerals LP (NYSE: BSM) could provide a new source of stable income distributions to yield-hungry investors, analysts say. Stability may be a watchword for the Houston firm; its roots date back to a family-owned timber company in East Texas that was started in 1867 by the current CEO's great-grandfather. In 1968 the Carter family sold its surface and timber rights but retained the minerals. In the 1980s it began acquiring additional fee acreage and became more proactive about encouraging drilling activity, driven by current chairman, president and CEO Thomas L. Carter Jr.