OUR HISTORY
W.T. CARTER & BRO ESTABLISHED1876
W.T. Carter & Bro., a predecessor of Black Stone Minerals, was established as a lumber company.
W.T. CARTER & BRO EXITS TIMBER AND LUMBER BUSINESS1968
W.T. Carter & Bro. sells its timber and lumber operations and retains approximately 200,000 gross mineral and royalty acres, shifting its focus to oil and gas.
DEVELOPMENT BEGINS1980s
Black Stone begins developing prospective acreage and in 1985 discovered the Double A Wells Field, an approximately 600 Bcfe discovery in East Texas.
KIRBY LUMBER COMPANY ACQUIRED1992
Black Stone acquires the mineral estate of the Kirby Lumber Company, its first third-party acquisition which expands its existing core area in East Texas.
SHIFTING AWAY FROM EXPLORATION1996
Black Stone sells its working interest in the Double A Wells Field, foreshadowing a shift away from the exploration business.
BLACK STONE SHIFTS BUSINESS MODEL1998
Black Stone shifts business model to focus on the mineral and royalty business and begins acquisition campaign that resulted in approximately $100 million of transactions over several years.
INVESTMENT FUNDS2002
Black Stone begins managing institutionally-backed private investment funds; from 2002 through 2010, the Partnership and its fund affiliates invested approximately $1.2 billion in over 20 transactions.
FUNDS DISCONTINUED 2010
Black Stone discontinues private investment fund business and decides to purchase all future acquisitions directly.
BLACK STONE CONSOLIDATION 2012
Black Stone consolidates the private investment fund interests through an exchange offering cash or equity in Black Stone; over 90% of limited partners elect to exchange for equity.
BLACK STONE GOES PUBLIC 2015
Black Stone completes its initial public offering and becomes largest publicly traded mineral and royalty company in the United States.
NOBLE ENERGY 2017
Black Stone makes largest acquisition in the Partnership’s history with purchase of mineral and royalty assets from affiliates of Noble Energy for $335 million.