NYSE     BSM     $18.36     -0.04

Investor Relations

Get up-to-the-minute investor information, including stock updates, financial reports, and shareholder services.

SEC Filings

Form 8-K
BLACK STONE MINERALS, L.P. filed this Form 8-K on 11/29/2017
Document Outline
Entire Document (1676.3 KB)
Subdocument 1 - 8-K - FORM 8-K
Page 1 - UNITED STATES
Page 2 - Item 1.01 Entry into a Material Definitive Agreement.
Page 3 - Item 2.01 Completion of Acquisition or Disposition of Assets.
Page 4 - Item 3.03 Material Modification to Rights of Securities Holders.
Page 5 - Item 9.01 Financial Statements and Exhibits.
Page 6 - N/A
Page 7 - Index to Exhibits
Page 8 - SIGNATURES
Subdocument 2 - EX-2.1 - EX-2.1
Page 1 - Exhibit 2.1
Page 2 - TABLE OF CONTENTS
Page 3 - TABLE OF CONTENTS
Page 4 - TABLE OF CONTENTS
Page 5 - TABLE OF CONTENTS
Page 6 - PURCHASE AND SALE AGREEMENT
Page 7 - Affiliate means, with respect to any Person, a Person that directly or indirectly controls, is contr
Page 8 - Asset Sellers is defined in the recitals.
Page 9 - Consent means any consent, approval, authorizations, or permit of, or filing with or notification to
Page 10 - N/A
Page 11 - Defensible Title means that aggregate record or beneficial title of the Asset Sellers and/or the Sam
Page 12 - Deposit is defined in Section 2.3(a).
Page 13 - Environmental Liabilities means any and all Damages, remediation obligations, liabilities, environme
Page 14 - Excluded Records means any and all:
Page 15 - Execution Date is defined in the introductory paragraph hereof.
Page 16 - Hydrocarbons means oil and gas and other hydrocarbons produced or processed in association therewith
Page 17 - Knowledge means, with respect to Sellers, the actual conscious knowledge, without any duty or obliga
Page 18 - Mineral Interests is defined in subsection (b) of the definition of Asset Seller Assets.
Page 19 - Net Revenue Interest means, with respect to any Mineral Interest, the percentage interest in and to
Page 20 - N/A
Page 21 - N/A
Page 22 - Person means any individual, corporation, partnership, limited liability company, trust, estate, Gov
Page 23 - Purchaser is defined in the introductory paragraph hereof.
Page 24 - Samedan Group means Samedan and the Samedan Subsidiaries.
Page 25 - Surface Interests is defined in subsection (c) of the definition of Asset Seller Assets .
Page 26 - Transfer Taxes means any sales, use, transfer, stamp, documentary, registration, or similar Taxes in
Page 27 - ARTICLE 2
Page 28 - Adjustments to Unadjusted Purchase Price. The Unadjusted Purchase Price shall be adjusted, without d
Page 29 - Closing Payment and Post-Closing Adjustments.
Page 30 - Accounting Referee ), for review and final determination by arbitration. The Accounting Referee shal
Page 31 - Adjustment Procedures.
Page 32 - Allocation ). If Sellers and Purchaser reach an agreement with respect to the Allocation, (i) Purcha
Page 33 - No Conflicts or Breach.
Page 34 - N/A
Page 35 - Bankruptcy. There are no bankruptcy, reorganization, or receivership proceedings pending against, be
Page 36 - Books and Records. The minute books of the Samedan Group contain materially accurate and complete re
Page 37 - Contracts.
Page 38 - Compliance with Law. Neither any Seller nor any member of the Samedan Group has received a written n
Page 39 - Authorization and Enforceability. The execution, delivery, and performance of this Agreement and the
Page 40 - Investment Intent. Purchaser is acquiring the Assets and Subject Securities for its own account and
Page 41 - KNOWN OR UNKNOWN, ATTRIBUTABLE TO ANY PERIODS OF TIME WHICH ANY MEMBER OF THE PURCHASER GROUP MIGHT
Page 42 - MAINTENANCE, REPAIR, CONDITION, QUALITY, SUITABILITY, DESIGN, OR MARKETABILITY OF THE ASSETS, (viii)
Page 43 - SECTION 3.16, SECTION 3.19, SELLERS DO NOT MAKE, SELLERS EXPRESSLY DISCLAIM, AND PURCHASER WAIVES AN
Page 44 - THE EFFECTIVE TIME AND (II) THE DETERMINATION AND REPORTING OF ASSET TAXES THAT WERE UTILIZED FOR AN
Page 45 - ARTICLE 6
Page 46 - Operation of Business.
Page 47 - Closing Efforts and Further Assurances. Each Party agrees that from and after the Execution Date it
Page 48 - Liability for Brokers Fees. Each Party hereby agrees to indemnify, defend, and hold harmless the oth
Page 49 - Expenses; Filings, Certain Governmental Approvals; and Removal of Names.
Page 50 - Non-Solicitation. For the period commencing on the Closing Date and ending on the date that is two (
Page 51 - Required Consents. If Purchaser discovers any unobtained Required Consent burdening any Asset Seller
Page 52 - EVEN IF SUCH CLAIMS, DAMAGES, LIABILITIES, OBLIGATIONS, LOSSES, COSTS, AND EXPENSES ARE CAUSED IN WH
Page 53 - Conditions of Purchaser to Closing. The obligations of Purchaser to consummate the transactions cont
Page 54 - ARTICLE 8
Page 55 - Obligations of Purchaser at Closing. At the Closing, upon the terms and subject to the conditions of
Page 56 - Oil and Gas Property Taxes ). Notwithstanding the forgoing, however, Oil and Gas Property Taxes shal
Page 57 - Transfer Taxes and Recording Fees. To the extent that any Transfer Taxes are incurred, imposed or pa
Page 58 - ARTICLE 10
Page 59 - ARTICLE 11
Page 60 - EVEN IF ANY SUCH DAMAGES ARE CAUSED IN WHOLE OR IN PART BY THE NEGLIGENCE (WHETHER GROSS, SOLE, JOIN
Page 61 - N/A
Page 62 - Exclusive Remedy and Certain Limitations.
Page 63 - INCLUDING RIGHTS TO CONTRIBUTION UNDER CERCLA OR ANY OTHER ENVIRONMENTAL LAW, BREACHES OF STATUTORY
Page 64 - N/A
Page 65 - Indemnification Actions. All claims for indemnification under Article 11 shall be asserted and resol
Page 66 - N/A
Page 67 - Direct Claim ), such Direct Claim shall be asserted by giving the Indemnifying Party a reasonably pr
Page 68 - STATE IN A CONSPICUOUS MANNER TO AFFORD FAIR AND ADEQUATE NOTICE THAT THIS AGREEMENT HAS PROVISIONS
Page 69 - Governing Law. This Agreement and the documents delivered pursuant hereto and the legal relations be
Page 70 - Waivers. Any failure by any Party to comply with any of its obligations, agreements, or conditions h
Page 71 - Entire Agreement. This Agreement, the exhibits and schedules attached hereto and the other Transacti
Page 72 - Deceptive Trade Practices Act. Purchaser certifies that it is not a consumer within the meaning of t
Page 73 - N/A
Page 74 - N/A
Subdocument 3 - EX-3.1 - EX-3.1
Page 1 - Exhibit 3.1
Page 2 - AGREEMENT
Page 3 - ANNEX B
Page 4 - Unit means a Partnership Interest that is designated as a Unit and shall include Common Units, Subor
Page 5 - Series B Cash Change of Control means a Series B Change of Control that involves the payment of cons
Page 6 - Series B Conversion Notice has the meaning assigned to such term in Paragraph 10(c)(i) of this Suppl
Page 7 - Series B Mandatory Conversion Notice Date has the meaning assigned to such term in Paragraph 10(c)(i
Page 8 - Series B Senior Securities means any class or series of Partnership Interests that, with respect to
Page 9 - Series B Quarterly Distribution ). With respect to any Quarter (or portion thereof for which a Serie
Page 10 - Series B Unpaid Distributions ) unless and until paid will accrue and accumulate from and including
Page 11 - N/A
Page 12 - N/A
Page 13 - N/A
Page 14 - Series B Conversion Notice, and the date such notice is received, a Series B Conversion Notice Date
Page 15 - N/A
Page 16 - Series B Substantially Equivalent Unit ); provided, however, that, if the Partnership is unable to d
Page 17 - N/A
Page 18 - N/A
Page 19 - Series B Redemption Notice ), the Partnership may redeem the Series B Preferred Units, in whole or i
Page 20 - N/A
Page 21 - N/A
Page 22 - N/A
Page 23 - required provision ) by virtue of any provision of the Partnership Agreement, this Supplemental Term
Subdocument 4 - EX-4.1 - EX-4.1
Page 1 - Exhibit 4.1
Page 2 - TABLE OF CONTENTS
Page 3 - REGISTRATION RIGHTS AGREEMENT
Page 4 - Conversion Unit Registrable Securities means the Common Units issuable upon conversion of the Series
Page 5 - Partnership Agreement means the First Amended and Restated Agreement of Limited Partnership of the P
Page 6 - Selling Holder means a Holder who is selling Registrable Securities pursuant to a Registration State
Page 7 - WKSI means a well-known seasoned issuer (as defined in the rules and regulations of the Commission).
Page 8 - Preferred Unit Registration Statement and, each Preferred Unit Registration Statement or Conversion
Page 9 - Failure to Become Effective. If a Registration Statement required by Section 2.01(a) does not become
Page 10 - Section 2.02 Piggyback Registration.
Page 11 - Piggyback Opt-Out Notice ) to the Partnership requesting that such Holder not receive notice from th
Page 12 - General Procedures. In connection with any Underwritten Offering contemplated by Section 2.03(a), th
Page 13 - N/A
Page 14 - comfort letter addressed to the underwriters, dated the pricing date of such Underwritten Offering a
Page 15 - Holder Underwriter Registration Statement ), then the Partnership will reasonably cooperate with suc
Page 16 - Section 2.05 Cooperation by Holders. The Partnership shall have no obligation to include Registrable
Page 17 - Lock-Up Period ); provided, however, that (i) the duration of the foregoing restrictions shall be no
Page 18 - Selling Holder Indemnified Persons ), against any losses, claims, damages, expenses or liabilities (
Page 19 - Contribution. If the indemnification provided for in this Section 2.08 is held by a court or governm
Page 20 - Other Indemnification. The provisions of this Section 2.08 shall be in addition to any other rights
Page 21 - Section 2.12 Limitation on Obligations for Series B Preferred Unit Registrable Securities. Notwithst
Page 22 - Section 3.02 Binding Effect. This Agreement shall be binding upon the Partnership, the Purchaser and
Page 23 - Section 3.05 Aggregation of Registrable Securities. All Registrable Securities held or acquired by P
Page 24 - Section 3.10 Entire Agreement. This Agreement, the Purchase Agreement and the other agreements and d
Page 25 - Section 3.14 Interpretation. Article, Section and Schedule references in this Agreement are referenc
Page 26 - N/A
Page 27 - N/A
Subdocument 5 - EX-10.1 - EX-10.1
Page 1 - Exhibit 10.1
Page 2 - TABLE OF CONTENTS
Page 3 - N/A
Page 4 - EXHIBIT
Page 5 - SERIES B PREFERRED UNIT PURCHASE AGREEMENT
Page 6 - Closing Date means the date on which the Closing occurs.
Page 7 - General Partner means Black Stone Minerals GP, L.L.C., a Delaware limited liability company and the
Page 8 - Material Subsidiaries means the Subsidiaries of the Partnership listed on Schedule A.
Page 9 - Partnership Parties means, collectively, the General Partner and the Partnership.
Page 10 - Subordinated Units has the meaning specified in Section 3.02(a).
Page 11 - ARTICLE II.
Page 12 - Section 2.05 Conditions to the Partnership s Obligations. The obligation of the Partnership to consu
Page 13 - N/A
Page 14 - Section 2.07 Further Assurances. From time to time after the date hereof, without further considerat
Page 15 - Section 3.02 Capitalization and Valid Issuance of Units.
Page 16 - Section 3.03 Ownership of the Material Subsidiaries. All of the outstanding shares of capital stock
Page 17 - Section 3.05 Financial Statements.
Page 18 - Section 3.07 No Material Adverse Effect. Since December 31, 2016, except as described in the BSM SEC
Page 19 - Section 3.13 Authority; Enforceability. The Partnership has all requisite power and authority under
Page 20 - Section 3.15 Distribution Restrictions. No Partnership Entity is prohibited, or as a result of the t
Page 21 - Section 3.21 Internal Controls. The Partnership Entities, taken as a whole, maintain a system of int
Page 22 - Environmental Laws ) applicable to such entity, which compliance includes, without limitation, obtai
Page 23 - Section 3.27 Tax Returns; Taxes. Except as would not, individually or in the aggregate, constitute a
Page 24 - Section 3.31 Rights-of-Way. Each Partnership Entity, directly or indirectly, has such consents, ease
Page 25 - Section 3.36 Related Party Transactions. Except as described in the BSM SEC Documents, no Partnershi
Page 26 - ARTICLE IV.
Page 27 - N/A
Page 28 - Section 4.06 Sufficient Funds. The Purchaser will have available to it at the Closing sufficient fun
Page 29 - Section 5.02 Listing of Units. Prior to the Closing, the Partnership will use its commercially reaso
Page 30 - N/A
Page 31 - Section 5.05 Tax Estimates. As soon as reasonably practical following receipt of a written request f
Page 32 - Section 6.02 Indemnification by the Purchaser. The Purchaser agrees to indemnify each of the Partner
Page 33 - Section 6.03 Indemnification Procedure.
Page 34 - Section 6.04 Tax Matters. All indemnification payments under this Article VI shall be adjustments to
Page 35 - ARTICLE VIII.
Page 36 - Section 8.04 No Waiver: Modifications in Writing.
Page 37 - Section 8.07 Non-Disclosure.
Page 38 - Section 8.09 Removal of Legend. In connection with a sale of Purchased Units, PIK Units or Conversio
Page 39 - Section 8.10 Entire Agreement. This Agreement, the other Transaction Documents, the Confidentiality
Page 40 - Section 8.12 Waiver of Jury Trial. THE PARTIES TO THIS AGREEMENT EACH HEREBY WAIVES, AND AGREES TO C
Page 41 - Section 8.14 No Recourse Against Others.
Page 42 - N/A
Page 43 - N/A
Page 44 - Schedule A
Page 45 - EXHIBIT A
Page 46 - Purchase Agreement ). The Partnership shall furnish to the Purchaser at the Closing an opinion of Vi
Page 47 - N/A
Page 48 - Delaware LLC Act ) or the U.S. federal laws (it being understood that we do not express an opinion i
Page 49 - Schedule I
Page 50 - Exhibit B
Page 51 - Execution Version
Page 52 - AGREEMENT
Page 53 - ANNEX B
Page 54 - Unit means a Partnership Interest that is designated as a Unit and shall include Common Units, Subor
Page 55 - Series A Preferred Units has the meaning assigned to such term in the Supplemental Terms Annex A inc
Page 56 - Series B COC Conversion Rate means the number of Common Units issuable upon the conversion of each S
Page 57 - Series B Issuance Date means [ ], 2017.
Page 58 - Series B Purchaser means Mineral Royalties One, L.L.C.
Page 59 - Series B Quarterly Distribution ). With respect to any
Page 60 - Series B PIK Distribution Period ), such Series B Quarterly Distribution shall be paid, as determine
Page 61 - Series B PIK Payment Date ). On the Series B PIK Payment Date, the Partnership shall have the option
Page 62 - N/A
Page 63 - N/A
Page 64 - Series B Conversion Notice, and the date such notice is received, a Series B Conversion Notice Date
Page 65 - Series B Conversion Date ). On the Series B Conversion Date, the Partnership shall instruct, and sha
Page 66 - N/A
Page 67 - Series B Substantially Equivalent Unit ); provided, however, that, if the Partnership is unable to d
Page 68 - N/A
Page 69 - Series B Redemption Notice ), the Partnership may redeem the Series B Preferred Units, in whole or i
Page 70 - Series B Redemption Date ), provided that the Partnership has made available at the office of the Tr
Page 71 - N/A
Page 72 - N/A
Page 73 - N/A
Page 74 - required provision ) by virtue of any provision of the Partnership Agreement, this Supplemental Term
Page 75 - Exhibit C
Page 76 - Execution Version
Page 77 - TABLE OF CONTENTS
Page 78 - REGISTRATION RIGHTS AGREEMENT
Page 79 - Conversion Unit Registrable Securities means the Common Units issuable upon conversion of the Series
Page 80 - Partnership Agreement means the First Amended and Restated Agreement of Limited Partnership of the P
Page 81 - Selling Holder Indemnified Persons has the meaning specified in Section 2.08(a).
Page 82 - WKSI means a well-known seasoned issuer (as defined in the rules and regulations of the Commission).
Page 83 - Preferred Unit Registration Statement and, each Preferred Unit Registration Statement or Conversion
Page 84 - Liquidated Damages ), until such time as such Registration Statement is declared or becomes effectiv
Page 85 - Section 2.02 Piggyback Registration.
Page 86 - Piggyback Opt-Out Notice ) to the Partnership requesting that such Holder not receive notice from th
Page 87 - General Procedures. In connection with any Underwritten Offering contemplated by Section 2.03(a), th
Page 88 - N/A
Page 89 - comfort letter addressed to the underwriters, dated the pricing date of such Underwritten Offering a
Page 90 - Holder Underwriter Registration Statement ), then the Partnership will reasonably cooperate with suc
Page 91 - Section 2.05 Cooperation by Holders. The Partnership shall have no obligation to include Registrable
Page 92 - Section 2.07 Expenses.
Page 93 - By Each Selling Holder. Each Selling Holder agrees severally and not jointly to indemnify and hold h
Page 94 - Contribution. If the indemnification provided for in this Section 2.08 is held by a court or governm
Page 95 - Section 2.10 Transfer or Assignment of Registration Rights. The rights to cause the Partnership to r
Page 96 - ARTICLE III
Page 97 - Section 3.02 Binding Effect. This Agreement shall be binding upon the Partnership, the Purchaser and
Page 98 - Section 3.08 Governing Law, Submission to Jurisdiction. This Agreement, and all claims or causes of
Page 99 - Section 3.12 No Presumption. This Agreement has been reviewed and negotiated by sophisticated partie
Page 100 - N/A
Page 101 - N/A
Page 102 - N/A
Page 103 - Exhibit D
Page 104 - EXECUTION VERSION
Page 105 - TABLE OF CONTENTS
Page 106 - TABLE OF CONTENTS
Page 107 - TABLE OF CONTENTS
Page 108 - TABLE OF CONTENTS
Page 109 - PURCHASE AND SALE AGREEMENT
Page 110 - Affiliate means, with respect to any Person, a Person that directly or indirectly controls, is contr
Page 111 - Asset Sellers is defined in the recitals.
Page 112 - Consent means any consent, approval, authorizations, or permit of, or filing with or notification to
Page 113 - N/A
Page 114 - Defensible Title means that aggregate record or beneficial title of the Asset Sellers and/or the Sam
Page 115 - Deposit is defined in Section 2.3(a).
Page 116 - Environmental Liabilities means any and all Damages, remediation obligations, liabilities, environme
Page 117 - Excluded Records means any and all:
Page 118 - Execution Date is defined in the introductory paragraph hereof.
Page 119 - Hydrocarbons means oil and gas and other hydrocarbons produced or processed in association therewith
Page 120 - Knowledge means, with respect to Sellers, the actual conscious knowledge, without any duty or obliga
Page 121 - Mineral Interests is defined in subsection (b) of the definition of Asset Seller Assets.
Page 122 - Net Revenue Interest means, with respect to any Mineral Interest, the percentage interest in and to
Page 123 - N/A
Page 124 - N/A
Page 125 - Person means any individual, corporation, partnership, limited liability company, trust, estate, Gov
Page 126 - Purchaser is defined in the introductory paragraph hereof.
Page 127 - Samedan Group means Samedan and the Samedan Subsidiaries.
Page 128 - Surface Interests is defined in subsection (c) of the definition of Asset Seller Assets .
Page 129 - Transfer Taxes means any sales, use, transfer, stamp, documentary, registration, or similar Taxes in
Page 130 - ARTICLE 2
Page 131 - Adjustments to Unadjusted Purchase Price. The Unadjusted Purchase Price shall be adjusted, without d
Page 132 - Closing Payment and Post-Closing Adjustments.
Page 133 - Accounting Referee ), for review and final determination by arbitration. The Accounting Referee shal
Page 134 - Adjustment Procedures.
Page 135 - Allocation ). If Sellers and Purchaser reach an agreement with respect to the Allocation, (i) Purcha
Page 136 - No Conflicts or Breach.
Page 137 - N/A
Page 138 - Bankruptcy. There are no bankruptcy, reorganization, or receivership proceedings pending against, be
Page 139 - Books and Records. The minute books of the Samedan Group contain materially accurate and complete re
Page 140 - Contracts.
Page 141 - Compliance with Law. Neither any Seller nor any member of the Samedan Group has received a written n
Page 142 - Authorization and Enforceability. The execution, delivery, and performance of this Agreement and the
Page 143 - Investment Intent. Purchaser is acquiring the Assets and Subject Securities for its own account and
Page 144 - KNOWN OR UNKNOWN, ATTRIBUTABLE TO ANY PERIODS OF TIME WHICH ANY MEMBER OF THE PURCHASER GROUP MIGHT
Page 145 - MAINTENANCE, REPAIR, CONDITION, QUALITY, SUITABILITY, DESIGN, OR MARKETABILITY OF THE ASSETS, (viii)
Page 146 - SECTION 3.16, SECTION 3.19, SELLERS DO NOT MAKE, SELLERS EXPRESSLY DISCLAIM, AND PURCHASER WAIVES AN
Page 147 - THE EFFECTIVE TIME AND (II) THE DETERMINATION AND REPORTING OF ASSET TAXES THAT WERE UTILIZED FOR AN
Page 148 - ARTICLE 6
Page 149 - Operation of Business.
Page 150 - Closing Efforts and Further Assurances. Each Party agrees that from and after the Execution Date it
Page 151 - Liability for Brokers Fees. Each Party hereby agrees to indemnify, defend, and hold harmless the oth
Page 152 - Expenses; Filings, Certain Governmental Approvals; and Removal of Names.
Page 153 - Non-Solicitation. For the period commencing on the Closing Date and ending on the date that is two (
Page 154 - Required Consents. If Purchaser discovers any unobtained Required Consent burdening any Asset Seller
Page 155 - EVEN IF SUCH CLAIMS, DAMAGES, LIABILITIES, OBLIGATIONS, LOSSES, COSTS, AND EXPENSES ARE CAUSED IN WH
Page 156 - Conditions of Purchaser to Closing. The obligations of Purchaser to consummate the transactions cont
Page 157 - ARTICLE 8
Page 158 - Obligations of Purchaser at Closing. At the Closing, upon the terms and subject to the conditions of
Page 159 - Oil and Gas Property Taxes ). Notwithstanding the forgoing, however, Oil and Gas Property Taxes shal
Page 160 - Transfer Taxes and Recording Fees. To the extent that any Transfer Taxes are incurred, imposed or pa
Page 161 - ARTICLE 10
Page 162 - ARTICLE 11
Page 163 - EVEN IF ANY SUCH DAMAGES ARE CAUSED IN WHOLE OR IN PART BY THE NEGLIGENCE (WHETHER GROSS, SOLE, JOIN
Page 164 - N/A
Page 165 - Exclusive Remedy and Certain Limitations.
Page 166 - INCLUDING RIGHTS TO CONTRIBUTION UNDER CERCLA OR ANY OTHER ENVIRONMENTAL LAW, BREACHES OF STATUTORY
Page 167 - N/A
Page 168 - Indemnification Actions. All claims for indemnification under Article 11 shall be asserted and resol
Page 169 - N/A
Page 170 - Direct Claim ), such Direct Claim shall be asserted by giving the Indemnifying Party a reasonably pr
Page 171 - STATE IN A CONSPICUOUS MANNER TO AFFORD FAIR AND ADEQUATE NOTICE THAT THIS AGREEMENT HAS PROVISIONS
Page 172 - Governing Law. This Agreement and the documents delivered pursuant hereto and the legal relations be
Page 173 - Waivers. Any failure by any Party to comply with any of its obligations, agreements, or conditions h
Page 174 - Entire Agreement. This Agreement, the exhibits and schedules attached hereto and the other Transacti
Page 175 - Deceptive Trade Practices Act. Purchaser certifies that it is not a consumer within the meaning of t
Page 176 - N/A
Page 177 - N/A
Page 178 - Exhibit E
Page 179 - VCOC Management Rights Letter
Page 180 - N/A
Page 181 - N/A
Page 182 - N/A
Page 183 - N/A