Dorchester Minerals, L.P. Announces Third Quarter Results

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ-DMLP) reported a net income of $29.5 million for Q3 2023, compared to $34.2 million in Q3 2022. Operating revenues were $42.6 million in Q3 2023, down from $44.1 million in Q3 2022. The Partnership declared a third-quarter distribution of $0.845120 per common unit.

      DALLAS, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended September 30, 2023 of $29,463,000, or $0.73 per common unit.

      A comparison of the Partnership’s consolidated results for the quarters ended September 30, 2023 and 2022 are set forth below:

	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2023				2022				2023				2022
Operating Revenues	$	42,594,000			$	44,057,000			$	113,380,000			$	131,917,000
Net Income	$	29,463,000			$	34,201,000			$	77,337,000			$	102,149,000
Net Income Per Common Unit	$	0.73			$	0.88			$	1.94			$	2.64

      The Partnership previously declared its third quarter distribution in the amount of $0.845120 per common unit payable on November 9, 2023 to common unitholders of record as of October 30, 2023. 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
3838 Oak Lawn Ave., Suite 300
Dallas, Texas 75219-4541
(214) 559-0300

FAQ

What is the stock symbol for Dorchester Minerals, L.P.?

The stock symbol for Dorchester Minerals, L.P. is DMLP.

What was the net income for Q3 2023?

The net income for Q3 2023 was $29.5 million.

What was the net income per common unit for Q3 2023?

The net income per common unit for Q3 2023 was $0.73.

What was the operating revenues for Q3 2023?

The operating revenues for Q3 2023 were $42.6 million.

What was the third-quarter distribution per common unit?

The third-quarter distribution per common unit was $0.845120.