Black Stone Minerals, L.P.

Black Stone Minerals, L.P. is a publicly traded master limited partnership and one of the largest owners of oil and natural gas mineral interests in the United States. Its business model is based on leasing these mineral rights to exploration and production companies, from which it derives royalty revenue. This structure inherently ties the company’s financial performance to the environmental impacts of oil and gas extraction, including groundwater contamination, soil degradation, habitat fragmentation, and methane emissions from the thousands of wells on its acreage.

In its 2024 annual report (Form 10-K), the company explicitly acknowledges liability for environmental damage caused by previous owners of its properties, as well as by its current lessees. This disclosure highlights the ongoing and legacy risks of contamination, spills, and other ecological damage associated with the active and inactive wells across its portfolio. While the provided evidence does not detail a specific, singular spill incident, the company’s own regulatory filings confirm its financial exposure and responsibility for the environmental consequences of fossil fuel extraction.