Dorchester Minerals, L.P. Announces First Quarter Results

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ-DMLP) reported a remarkable net income of $30.6 million ($0.80 per common unit) for Q1 2022, compared to $11.8 million in Q1 2021.

Operating revenues soared to $40.4 million from $17.8 million year-over-year. The Partnership announced a cash distribution of $0.753926 per common unit payable on May 12, 2022, to record holders as of May 2, 2022. Dorchester Minerals continues to hold diverse oil and natural gas interests across 28 states.

Positive

• Net income increased by $18.8 million year-over-year.
• Operating revenues rose by $22.6 million compared to the previous year.
• Cash distribution of $0.753926 per common unit reflects strong profitability.

Negative

• None.

DALLAS, May 05, 2022 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended March 31, 2022 of $30,624,000, or $0.80 per common unit.

A comparison of the Partnership’s consolidated results for the quarter ended March 31, 2022 and 2021 are set forth below:

	Three Months Ended
	March 31,
		2022			2021
Operating Revenues	$40,401,000			$17,789,000
Net Income	$30,624,000			$11,801,000
Net Income Per Common Unit	$0.80			$0.33

The Partnership previously declared its first quarter distribution in the amount of $0.753926 per common unit payable on May 12, 2022 to common unit holders of record as of May 2, 2022. The Partnership’s cash distributions are not comparable to its net earnings due to timing and other differences including depletion.

Dorchester Minerals, L.P. is a Dallas based owner of producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests located in 28 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.

Contact:

Martye Miller

(214) 559-0300

FAQ

What was Dorchester Minerals' net income for Q1 2022?

Dorchester Minerals reported a net income of $30.6 million or $0.80 per common unit for Q1 2022.

How much did Dorchester Minerals increase its operating revenues?

Operating revenues increased by $22.6 million, reaching $40.4 million for Q1 2022.

When is the cash distribution for DMLP due?

The cash distribution of $0.753926 per common unit is payable on May 12, 2022.

What were the previous year's earnings for DMLP?

In Q1 2021, Dorchester Minerals reported a net income of $11.8 million.