Houston-based Blackstone Minerals, a company with oil and gas mineral interests all over Oklahoma and dozens of other states has made changes in its common units.
The company announced that the Partnership’s subordinated units automatically converted into common units on a one-for-one basis with the expiration of the Subordination Period.
As a result, the company issued instructions Tuesday to American Stock Transfer and Trust Company to cancel outstanding subordinated units and to issue an equal number of common units into common unit accounts at AST.
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 41 states in the continental United States. 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.