Business Context and Reporting Period
This Form 8-K Current Report was filed by Black Stone Minerals, L.P. on June 14, 2018, with the earliest event reported on that same date. The filing focuses on corporate governance changes within the General Partner, Black Stone Minerals GP, L.L.C.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current event disclosure regarding personnel changes and does not contain financial performance data.
Material Changes
- Executive Appointment: Jeff Wood was appointed President of the General Partner, effective June 14, 2018.
- Role Transition: Mr. Wood retains his current role as Chief Financial Officer.
- Resignation: Thomas L. Carter, Jr. resigned as President but will continue serving as Chief Executive Officer and Chairman of the General Partner.
Management Commentary and Background
Management highlighted Mr. Wood's extensive background, noting over 20 years of senior financial leadership and capital markets experience. His recent roles include Executive Vice President and CFO of Siluria Technologies, Inc., and Senior Vice President and CFO of Eagle Rock Energy Partners. Prior to these positions, he spent 11 years at Lehman Brothers Holdings, Inc., focusing on the MLP sector. He holds an MBA from the University of Chicago and a BA from Baylor University.
A press release announcing the promotion was issued on June 18, 2018, and is attached as Exhibit 99.1. The filing notes that this information is furnished under Regulation FD and is not deemed "filed" for liability purposes under Section 18 of the Exchange Act.
Investor Verification Checklist
- Confirm the effective date of Jeff Wood's appointment as President.
- Verify Thomas L. Carter, Jr.'s continued tenure as CEO and Chairman.
- Review the attached press release (Exhibit 99.1) for additional details on the leadership transition.
- Check subsequent filings for any impact on the company's strategic direction or financial outlook resulting from this leadership change.