W.T. Carter & Bro., a predecessor of Black Stone Minerals, was established as a lumber company.
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.
Black Stone begins developing prospective acreage and in 1985 discovered the Double A Wells Field, an approximately 600 Bcfe discovery in East Texas.
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.
Black Stone sells its working interest in the Double A Wells Field, foreshadowing a shift away from the exploration business.
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.
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.
Black Stone discontinues private investment fund business and decides to purchase all future acquisitions directly.
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 completes its initial public offering and becomes largest publicly traded mineral and royalty company in the United States.
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.