Dorchester Minerals, L.P. Announces Third Quarter Results

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ-DMLP) reported net income of $34.2 million, or $0.88 per common unit, for Q3 2022, significantly up from $18 million, or $0.49 per unit in Q3 2021. Operating revenues also rose to $44 million compared to $24 million a year earlier. The Partnership declared a third quarter distribution of $1.135019 per common unit payable on November 10, 2022. Dorchester owns oil and gas interests across 28 states, with cash distributions impacted by various accounting factors.

Positive

• Net income increased by 90% year-over-year, reflecting strong financial performance.
• Operating revenues rose by 83% compared to the previous year.
• Declared a robust distribution of $1.135019 per common unit, demonstrating commitment to shareholder returns.

Negative

• None.

DALLAS, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended September 30, 2022 of $34,201,000, or $0.88 per common unit.

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

	Three Months Ended							Nine Months Ended
	September 30,							September 30,
	2022				2021			2022				2021
Operating Revenues	$	44,057,000			$	23,969,000		$	131,917,000			$	63,119,000
Net Income	$	34,201,000			$	18,031,000		$	102,149,000			$	46,341,000
Net Income Per Common Unit	$	0.88			$	0.49		$	2.64			$	1.28

The Partnership previously declared its third quarter distribution in the amount of $1.135019 per common unit payable on November 10, 2022 to common unit holders of record as of October 31, 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 Q3 2022?

Dorchester Minerals reported a net income of $34.2 million for Q3 2022.

What is the distribution amount declared for Q3 2022 by DMLP?

The Partnership declared a distribution of $1.135019 per common unit for Q3 2022.

How did DMLP's Q3 2022 operating revenues compare to Q3 2021?

Operating revenues for Q3 2022 were $44 million, compared to $24 million in Q3 2021.

What is the earnings per common unit for Dorchester Minerals in Q3 2022?

Earnings per common unit for Q3 2022 were $0.88.