Dorchester Minerals, L.P. Announces 2021 Results

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ-DMLP) reported a net income of $70.2 million or $1.94 per unit for the year ended December 31, 2021, a significant increase from $21.9 million or $0.61 per unit in 2020. The Partnership's operating revenues reached $93.4 million, compared to $46.9 million the previous year. As of December 31, 2021, it holds 92.9 billion cubic feet of proved oil and natural gas reserves. A total of $69.2 million was distributed to common unitholders from May 2021 to February 2022.

Positive

• Net income rose to $70.2 million in 2021, up from $21.9 million in 2020.
• Operating revenues increased significantly to $93.4 million compared to $46.9 million in 2020.
• Proved reserves are estimated at 92.9 billion cubic feet of natural gas equivalents.
• A total of $69.2 million was distributed to common unitholders attributable to 2021 activities.

Negative

• None.

DALLAS, Texas, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the year ended December 31, 2021 of $70,174,000 or $1.94 per common unit.

A comparison of the Partnership’s consolidated results for the twelve month periods ended December 31, 2021 and 2020 are set forth below:

	Twelve Months Ended
	December 31,
	2021			2020
Operating Revenues	$	93,423,000		$	46,928,000
Net Income	$	70,174,000		$	21,867,000
Net Income Per Common Unit	$	1.94		$	0.61

The Partnership’s independent engineering consultant estimated its total proved oil and natural gas reserves to be 92.9 billion cubic feet of natural gas equivalents (bcfe) as of December 31, 2021. Approximately 17% of these reserves are attributable to the Partnership’s Net Profits Interests and 83% are attributable to its Royalty Properties. Natural gas accounted for 41% of proved reserves as of December 31, 2021, all of which were classified as proved developed producing.

The Partnership distributed a total of $69.2 million to its common unitholders from May 2021 through February 2022 attributable to 2021 activity.

Dorchester Minerals, L.P. is a Dallas based owner of producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests in 26 states. Its common units trade on the NASDAQ Global Select Market under the symbol DMLP.

FORWARD-LOOKING STATEMENTS

Portions of this document may constitute "forward-looking statements" as defined by federal law. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Examples of such uncertainties and risk factors include, but are not limited to, changes in the price or demand for oil and natural gas, changes in the operations on or development of the Partnership’s properties, changes in economic and industry conditions and changes in regulatory requirements (including changes in environmental requirements) and the Partnership’s financial position, business strategy and other plans and objectives for future operations. These and other factors are set forth in the Partnership's filings with the Securities and Exchange Commission.

FAQ

What was Dorchester Minerals' net income for 2021?

Dorchester Minerals reported a net income of $70.2 million for the year ended December 31, 2021.

How much did Dorchester Minerals distribute to unitholders in 2021?

The Partnership distributed a total of $69.2 million to its common unitholders from May 2021 through February 2022.

What are the total proved reserves of Dorchester Minerals?

As of December 31, 2021, Dorchester Minerals had total proved reserves estimated at 92.9 billion cubic feet of natural gas equivalents.

What were the operating revenues for Dorchester Minerals in 2021?

The operating revenues for Dorchester Minerals in 2021 were $93.4 million.

What was the net income per common unit for Dorchester Minerals in 2021?

The net income per common unit for Dorchester Minerals in 2021 was $1.94.