Dorchester Minerals, L.P. Announces Second Quarter Results

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ-DMLP) reported a net income of $37.32 million, or $0.96 per common unit for Q2 2022, an increase from $16.51 million, or $0.46 per unit year-over-year. Operating revenues for the quarter were $47.46 million, compared to $21.36 million in Q2 2021. The partnership declared a distribution of $0.969012 per unit, payable on August 11, 2022. The strong earnings reflect growth in oil and gas interests across 28 states. However, future performance may be influenced by fluctuating oil and gas prices.

Positive

• Net income increased to $37.32 million in Q2 2022, up from $16.51 million in Q2 2021.
• Operating revenues rose to $47.46 million for Q2 2022, compared to $21.36 million year-over-year.
• Declared a distribution of $0.969012 per common unit, indicating strong cash flow.

Negative

• None.

DALLAS, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended June 30, 2022 of $37,324,000, or $0.96 per common unit.

A comparison of the Partnership’s consolidated results for the quarters ended June 30, 2022 and 2021 are set forth below:

	Three Months Ended							Six Months Ended
	June 30,							June 30,
	2022				2021			2022				2021
Operating Revenues	$	47,459,000			$	21,361,000		$	87,860,000			$	39,150,000
Net Income	$	37,324,000			$	16,509,000		$	67,948,000			$	28,310,000
Net Income Per Common Unit	$	0.96			$	0.46		$	1.76			$	0.79

The Partnership previously declared its second quarter distribution in the amount of $0.969012 per common unit payable on August 11, 2022 to common unit holders of record as of August 1, 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 were Dorchester Minerals' Q2 2022 earnings results?

Dorchester Minerals reported a net income of $37.32 million, or $0.96 per common unit, for Q2 2022.

How much revenue did Dorchester Minerals generate in Q2 2022?

The Partnership generated $47.46 million in operating revenues in Q2 2022.

What distribution did Dorchester Minerals declare for Q2 2022?

Dorchester Minerals declared a distribution of $0.969012 per common unit, payable on August 11, 2022.

What is the stock symbol for Dorchester Minerals?

Dorchester Minerals trades under the stock symbol DMLP on NASDAQ.

How does the net income compare between Q2 2021 and Q2 2022 for Dorchester Minerals?

Net income increased from $16.51 million in Q2 2021 to $37.32 million in Q2 2022.