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

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a cash distribution of $0.969012 per common unit for Q2 2022, payable on August 11, 2022, to unitholders of record as of August 1, 2022. The Partnership reported cash receipts of approximately $33.9 million from royalty properties, with 74% from oil and gas sales in early 2022 and 26% from prior periods. Additionally, net profits interests generated about $5.1 million, while lease bonuses contributed approximately $1.2 million. Dorchester Minerals holds interests in 28 states across various oil and gas assets.

Positive

• Q2 2022 cash distribution of $0.969012 per common unit announced.
• Total cash receipts from royalty properties reached approximately $33.9 million.
• Strong performance with 74% of cash receipts from recent oil and gas sales.

Negative

• Potential risks related to oil and gas price volatility.
• Dependence on prevailing market conditions for cash flow.

DALLAS, TEXAS , July 21, 2022 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership’s second quarter 2022 cash distribution. The distribution of $0.969012 per common unit represents activity for the three-month period ended June 30, 2022 and is payable on August 11, 2022 to common unitholders of record as of August 1, 2022.

Cash receipts attributable to the Partnership’s Royalty Properties during the second quarter totaled approximately $33.9 million. Approximately 74% of these receipts reflect oil sales during March 2022 through May 2022 and gas sales during February 2022 through April 2022, and approximately 26% from prior sales periods. Cash receipts attributable to the Partnership’s Net Profits Interests during the second quarter totaled approximately $5.1 million. Approximately 68% of these receipts reflect oil sales and gas sales during February 2022 through April 2022, and approximately 32% from prior sales periods.

Cash receipts attributable to lease bonus and other income during the second quarter totaled approximately $1.2 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 for DMLP in Q2 2022?

Dorchester Minerals announced a cash distribution of $0.969012 per common unit for Q2 2022.

When is the cash distribution for DMLP payable?

The cash distribution is payable on August 11, 2022, to unitholders of record as of August 1, 2022.

What were the total cash receipts for DMLP in Q2 2022?

Total cash receipts from royalty properties in Q2 2022 were approximately $33.9 million.

What percentage of cash receipts for DMLP came from recent sales?

Approximately 74% of cash receipts were derived from oil and gas sales during early 2022.

What are the risks associated with Dorchester Minerals?

The company faces risks related to oil and gas price volatility and market conditions affecting cash flow.