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

Rhea-AI Summary

On January 19, 2023, Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a fourth quarter 2022 cash distribution of $0.884339 per common unit, payable on February 9, 2023, to unitholders of record as of January 30, 2023. The Partnership reported cash receipts of approximately $29.0 million from Royalty Properties, with 79% attributed to oil and gas sales during September 2022 to November 2022. Additionally, receipts from Net Profits Interests totaled $9.5 million, with 52% from sales in the same period. Lease bonus and other income contributed $0.5 million.

Positive

• Cash distribution of $0.884339 per common unit.
• Royalty Properties generated approximately $29.0 million in cash receipts.
• Net Profits Interests contributed approximately $9.5 million in cash receipts.

Negative

• None.

DALLAS, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership’s fourth quarter 2022 cash distribution. The distribution of $0.884339 per common unit represents activity for the three-month period ended December 31, 2022 and is payable on February 9, 2023 to common unitholders of record as of January 30, 2023.

Cash receipts attributable to the Partnership’s Royalty Properties during the fourth quarter totaled approximately $29.0 million. Approximately 79% of these receipts reflect oil sales during September 2022 through November 2022 and gas sales during August 2022 through October 2022, and approximately 21% from prior sales periods. Cash Receipts attributable to the Partnership’s Net Profits Interests during the fourth quarter totaled approximately $9.5 million. Approximately 52% of these receipts reflect oil sales and gas sales during August 2022 through October 2022, and approximately 48% from prior sales periods.

Cash receipts attributable to lease bonus and other income during the fourth quarter totaled approximately $0.5 million.

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 amount announced by Dorchester Minerals (DMLP) for Q4 2022?

Dorchester Minerals announced a cash distribution of $0.884339 per common unit for the fourth quarter of 2022.

When is the cash distribution for DMLP payable?

The cash distribution is payable on February 9, 2023, to unitholders of record as of January 30, 2023.

How much did Dorchester Minerals earn from Royalty Properties in Q4 2022?

Dorchester Minerals earned approximately $29.0 million from Royalty Properties during the fourth quarter of 2022.

What are the cash receipts from Net Profits Interests for DMLP in Q4 2022?

The cash receipts from Net Profits Interests totaled approximately $9.5 million for the fourth quarter of 2022.