Good morning, ladies and gentlemen, and welcome to the Third Quarter 2019 Black Stone Minerals, L.P. Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time.
I would now like to turn the conference over to your host, Mr. Brent Collins, Vice President of Investor Relations. Please go ahead, sir.
Thank you, Bella. Good morning to everyone and thank you for joining us either by phone or online for Blackstone Minerals' Third Quarter 2019 Earnings Conference Call. Today's call is being recorded and will be available on our website along with the earnings release, which was issued yesterday afternoon.
Before we start, I'd like to advise you that we will be making forward-looking statements during this call about our plans, expectations and assumptions regarding our future performance. These statements involve risks that may cause our actual results to differ materially from the results expressed or implied in our forward-looking statements. For a discussion of these risks, you should refer to the cautionary information about forward-looking statements in our press release from yesterday and the Risk Factors section of our 10-Q, which will be filed later today.
We may refer to certain non-GAAP financial measures that we believe are useful in evaluating our performance. Reconciliation of those measures to the most directly comparable GAAP measure and other information about these non-GAAP metrics are described in our earnings press release from yesterday, which can be found on our website at blackstoneminerals.com.
Company officials on the call this morning are Tom Carter, Chairman and CEO; Jeff Wood, President, and CFO; Holbrook Dorn, Senior Vice President of Business Development; Brock Morris, Senior Vice President of Engineering and Geology; and Steve Putman, Senior Vice President and General Counsel.
With that, I will turn the call over to Tom.
Thomas L. Carter
Thank you, good morning to everyone and thanks for calling into the third quarter conference call.
We feel that Black Stone reported solid results for the third quarter. Total production for the quarter averaged 49,000 BOE per day. Royalty volumes increased 14% year-over-year, driven mostly by growth in our Permian and Shelby Trough production.
Our working interest volumes declined by 25% versus last year, and that was done on purpose. We participated as a working interest partner with two key operators during the last downturn in order to facilitate continued development of our mineral acreage. That program kick-started the current original round of Shelby Trough development and created a lot of value for our shareholders. We continue to benefit from that working interest investment, even after farming out all of our capital obligations through additional override volumes and back-end potential.
Overall, our production is trending in line with our revised expectations. You'll recall that we increased our full-year production guidance last quarter and we're tracking to be right in the middle of that range for the year. Weaker commodity prices impacted our financial results for the quarter, including wider differentials
Vice President of Investor Relations
Thomas L. Carter
Chairman and Chief Executive Officer
President and Chief Financial Officer
Senior Vice President of Engineering and Geology
Senior Vice President of Business Development
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