Dorchester Minerals, L.P. Announces Its First Quarter Distribution

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ:DMLP) has announced a cash distribution of $0.753926 per common unit for Q1 2022, payable on May 12, 2022, to unitholders of record on May 2, 2022. In Q1, cash receipts from Royalty Properties reached approximately $24.7 million, with 75% from oil and gas sales during late 2021 and early 2022. Net Profits Interests contributed about $6.9 million, with 65% also from oil and gas sales in the same period. The company has interests across 28 states and provides forward-looking statements subject to market fluctuations and regulatory changes.

Positive

• Q1 2022 cash distribution announced at $0.753926 per common unit.
• Total cash receipts of approximately $24.7 million from Royalty Properties.
• Net profits interests contributed approximately $6.9 million.

Negative

• Potential risks from fluctuating oil and gas prices affecting future income.
• Uncertainties related to regulatory changes impacting operations.

DALLAS, April 21, 2022 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership’s first quarter 2022 cash distribution. The distribution of $0.753926 per common unit represents activity for the three-month period ended March 31, 2022 and is payable on May 12, 2022 to common unitholders of record as of May 2, 2022.

Cash receipts attributable to the Partnership’s Royalty Properties during the first quarter totaled approximately $24.7 million. Approximately 75% of these receipts reflect oil sales during December 2021 through February 2022 and gas sales during November 2021 through January 2022, and approximately 25% from prior sales periods. Cash Receipts attributable to the Partnership’s Net Profits Interests during the first quarter totaled approximately $6.9 million. Approximately 65% of these receipts reflect oil sales and gas sales during November 2021 through January 2022, and approximately 35% from prior sales periods.

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.

This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Although a portion of Dorchester Minerals, L.P.’s income may not be effectively connected income and may be subject to alternative withholding procedures, brokers and nominees should treat 100% of Dorchester Minerals, L.P.’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Dorchester Minerals, L.P.’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate for individuals or corporations, as applicable. Nominees, and not Dorchester Minerals, L.P., are treated as withholding agents responsible for withholding on distributions received by them on behalf of non-U.S. investors.

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 is the cash distribution for DMLP in Q1 2022?

Dorchester Minerals, L.P. announced a cash distribution of $0.753926 per common unit for Q1 2022.

When will the cash distribution for DMLP be paid?

The cash distribution will be payable on May 12, 2022, to common unitholders of record as of May 2, 2022.

How much were the cash receipts from Royalty Properties for DMLP in Q1 2022?

The cash receipts attributable to Royalty Properties totaled approximately $24.7 million in Q1 2022.

What contributed to the net profits interests for DMLP in Q1 2022?

Net profits interests contributed approximately $6.9 million, mainly from oil and gas sales during late 2021 and early 2022.

What are the potential risks affecting DMLP's future earnings?

Future earnings may be impacted by fluctuating oil and gas prices and regulatory changes.