5 unchanged sentences
Common Unit Performance Graph
−Removed: The graph below compares our cumulative total unitholder return on our common units beginning on April 30, 2015, the date of pricing for our IPO, through December 31, 2019 with the S&P 500 index and the Alerian MLP index.
−Removed: The graph assumes that the value of the investment in our common units was $100.00 on April 30, 2015.
+Added: The graph below compares the cumulative five-year total return to unitholders on our common units as compared to the cumulative five-year total returns on the S&P 500 index and the Alerian MLP index.
+Added: The graph assumes that the value of the investment in our common units was $100.00 on December 31, 2015.
Cumulative return is computed assuming reinvestment of distributions.
2 unchanged sentences
As of December 31,
−Removed: As of April 30, 2015 2015 2016 2017 2018 2019
+Added: 2015 2016 2017 2018 2019 2020
Black Stone Minerals, L.P.
8 unchanged sentences
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: The following table sets forth our purchases of our common units for each month during the three months ended December 31, 2019:
−Removed: Purchases of Common Units
−Removed: Period Total Number of Common Units Purchased Average Price Paid Per Unit Total Number of Common Units Purchased as Part of Publicly Announced Plans or Programs 2
−Removed: Maximum Dollar Value of Common Units That May Yet Be Purchased Under the Plans or Programs 2
−Removed: October 1 – October 30, 2019 1
−Removed: 1,017 $ 13.19 — $ 70,819,075
−Removed: 1 Consists of units withheld to satisfy tax withholding obligations upon the vesting of certain restricted common units held by certain employees.
−Removed: 2 On November 5, 2018, the Board authorized the repurchase of up to $75.0 million in common units.
−Removed: The repurchase program authorizes us to make repurchases on a discretionary basis as determined by management, subject to market conditions, applicable legal requirements, available liquidity, and other appropriate factors.
−Removed: All or a portion of any repurchases may be made under a Rule 10b5-1 plan, which would permit common units to be repurchased when we might otherwise be precluded from doing so under insider trading laws.
−Removed: The repurchase program does not obligate us to acquire any particular amount of common units and may be modified or suspended at any time and could be terminated prior to completion.
Cash Distribution Policy
12 unchanged sentences
Our partnership agreement does not require us to pay any distributions at all on our common units.
−Removed: If we make distributions, our Series B
−Removed: cumulative convertible preferred unitholders have priority with respect to rights to share in those distributions over our common unitholders for so long as our Series B cumulative convertible preferred units are outstanding.” For a description of the relative rights and privileges of our Series B cumulative convertible preferred units to distributions, please read "Series B Cumulative Convertible Preferred Units" below.
+Added: If we make distributions, our Series B cumulative convertible preferred unitholders have priority with respect to rights to share in those distributions over our common unitholders for so long as our Series B cumulative convertible preferred units are outstanding.” For a description of the relative rights and privileges of our Series B cumulative convertible preferred units to distributions, please read "Series B Cumulative Convertible Preferred Units" below.
Replacement capital expenditures are expenditures necessary to replace our existing oil and natural gas reserves or otherwise maintain our asset base over the long term.
−Removed: The Board established a replacement capital expenditure estimate of $15.0 million for the period of April 1, 2016 to March 31, 2017, $13.0 million for the period of April 1, 2017 to March 31, 2018, and $11.0 million for the period of April 1, 2018 to March 31, 2019.
+Added: The Board established a replacement capital expenditure estimate of $11.0 million for the period of April 1, 2018 to March 31, 2019.
Due to the expiration of the subordination period, we do not intend to establish a replacement capital expenditure estimate for periods subsequent to March 31, 2019.
54 unchanged sentences
2 We recorded noncash impairments of oil and natural gas properties in the amounts of $51.0 million and $6.8 million for the years ended December 31, 2020 and 2016, respectively.
−Removed: We did not have impairments of oil and natural gas properties for the years ended December 31, 2019, 2018, and 2017.
+Added: We did not have impairments of oil and natural gas properties for the years ended 2019, 2018, and 2017.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.