Diligence memo · auto-generated · as of July 2, 2026
Black Stone Minerals, L.P.
Black Stone Minerals, L.P. looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Black Stone Minerals, L.P. operates in Other Energy, based in Houston.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Black Stone Minerals, L.P. has raised $55M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $55M on 2017-06-16.
Most recent recorded round closed around 2018-10-26.
Valuation (modeled)modeled
Provath models Black Stone Minerals, L.P. at approximately $1.6M (range $478K–$4.1M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.00× the median modeled value of Series C Other Energy companies in 2016–2018 (16 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 5 months.
Last raise 7.7 yr ago; this sector typically re-raises about every 12 months.
Silent for over 3× the sector's normal cadence.
The last round was 3.8× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 91% of Other Energy peers (2049 compared).
Modeled value ranks above 5% of those peers.
Closest niche peers: WRH Associates, LLC, Concessionaire CCNCM Transmission Line S.A.C., Clean Energy Fuels Corp., Stem, Inc., Mims Motors Corp.
Peoplefiled
17 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.