Black Stone Minerals, L.P. is an owner and manager of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management. The Company owns mineral and royalty interests in 41 states in the continental United States, including the onshore producing basins. These non-cost-bearing interests include ownership in approximately 71,000 producing wells. It also owns non-operated working interests, a significant portion of which are in positions where it also has a mineral and royalty interest. Many of these interests are in active resource plays, including the Haynesville/Bossier shales in East Texas/Western Louisiana, the Wolfcamp/Spraberry/Bone Springs in the Permian Basin, the Bakken/Three Forks in the Williston Basin, and the Eagle Ford shale in South Texas.