Dorchester Minerals, L.P. Announces Third Quarter Results

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ-DMLP) reported a net income of $18,031,000 or $0.49 per common unit for Q3 2021, a significant increase from $5,619,000 in Q3 2020. Total operating revenues reached $23,969,000, up from $12,545,000 in the same quarter last year. For the nine months ending September 30, 2021, net income was $46,341,000, compared to $15,572,000 in 2020. A distribution of $0.507608 per common unit is payable on November 10, 2021, to record holders as of November 1, 2021.

Positive

• Net income increased to $18,031,000 for Q3 2021 from $5,619,000 in Q3 2020.
• Operating revenues rose to $23,969,000 for Q3 2021, compared to $12,545,000 in Q3 2020.
• Net income for nine months ended September 30, 2021, was $46,341,000, up from $15,572,000 in 2020.
• Declared distribution of $0.507608 per common unit payable on November 10, 2021.

Negative

• None.

DALLAS, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP), announced today the Partnership’s net income for the quarter ended September 30, 2021 of $18,031,000, or $0.49 per common unit.

A comparison of the Partnership’s consolidated results for the quarters ended September 30, 2021 and 2020 are set forth below:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
		2021		2020				2021		2020
Operating Revenues	$	23,969,000		$	12,545,000		$	63,119,000		$	34,816,000
Net Income	$	18,031,000		$	5,619,000		$	46,341,000		$	15,572,000
Net Income Per Common Unit	$	0.49		$	0.16		$	1.28		$	0.43

The Partnership previously declared its third quarter distribution in the amount of $0.507608 per common unit payable on November 10, 2021 to common unit holders of record as of November 1, 2021. 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 26 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 2021?

Dorchester Minerals reported a net income of $18,031,000 for Q3 2021.

How much did Dorchester Minerals earn per common unit in Q3 2021?

The net income per common unit for Q3 2021 was $0.49.

What are the operating revenues for Dorchester Minerals in Q3 2021?

The operating revenues for Q3 2021 were $23,969,000, up from $12,545,000 in Q3 2020.

When is the distribution payment for Dorchester Minerals' common units?

The distribution of $0.507608 per common unit is payable on November 10, 2021.

What were the nine-month results for Dorchester Minerals in 2021?

For the nine months ended September 30, 2021, Dorchester Minerals reported a net income of $46,341,000.