Dorchester Minerals, L.P. Announces Third Quarter Results
Dorchester Minerals, L.P. (NASDAQ-DMLP) reported a net income of $5,619,000 or $0.16 per common unit for Q3 2020. Operating revenues for the quarter were $12,545,000, down from $19,569,000 in the same period in 2019. For the nine months ended September 30, 2020, net income totaled $15,572,000, with earnings per common unit of $0.43, a decrease compared to $40,442,000 or $1.15 in 2019. The Partnership declared a distribution of $0.325612 per unit, payable on November 12, 2020.
- Third quarter distribution of $0.325612 per common unit announced.
- Operating revenues for nine months ended September 30, 2020 totaled $34,816,000.
- Q3 2020 net income decreased to $5,619,000 from $12,867,000 in 2019.
- Operating revenue for Q3 2020 fell to $12,545,000 compared to $19,569,000 in 2019.
- Net income for nine months ended September 30, 2020 decreased to $15,572,000 from $40,442,000 in 2019.
DALLAS, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended September 30, 2020 of
A comparison of the Partnership’s consolidated results for the quarter ended September 30, 2020 and 2019 are set forth below:
| Three Months Ended | Nine Months Ended | ||||||||||||
| September 30, | September 30, | ||||||||||||
| 2020 | 2019 | 2020 | 2019 | ||||||||||
| Operating Revenues | $ | 12,545,000 | $ | 19,569,000 | $ | 34,816,000 | $ | 59,200,000 | |||||
| Net Income | $ | 5,619,000 | $ | 12,867,000 | $ | 15,572,000 | $ | 40,442,000 | |||||
| Net Income Per Common Unit | $ | 0.16 | $ | 0.35 | $ | 0.43 | $ | 1.15 | |||||
The Partnership previously declared its third quarter distribution in the amount of
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 27 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 |
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