Dorchester Minerals, L.P. Announces Two Acquisitions of Mineral, Royalty and Overriding Royalty Interests

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ: DMLP) has successfully completed two acquisitions of mineral, royalty, and overriding royalty interests. Both transactions were structured as non-taxable contribution and exchanges. In one deal, the Partnership issued 6,721,144 common units to the contributing entities. In a separate transaction, 530,000 common units were issued to another contributing entity. Dorchester Minerals is a Dallas-based owner of producing and non-producing oil and natural gas interests across 28 states. The company's common units are traded on the NASDAQ Global Select Market under the symbol DMLP.

Positive

• Acquisition of additional mineral, royalty, and overriding royalty interests
• Non-taxable structure of the transactions
• Expansion of asset portfolio across 28 states

Negative

• Potential dilution of existing unitholders due to issuance of new common units

DALLAS, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today it has completed two previously announced acquisitions of mineral, royalty and overriding royalty interests.

The transactions were both structured as non-taxable contribution and exchanges.

In one transaction, the contributing entities conveyed their interests to the Partnership in exchange for 6,721,144 common units representing limited partnership interests in Dorchester Minerals, L.P.

In a separate transaction, the contributing entity conveyed its interests to the Partnership in exchange for 530,000 common units representing limited partnership interests in Dorchester Minerals, L.P.

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.

FAQ

How many common units did Dorchester Minerals (DMLP) issue in its recent acquisitions?

Dorchester Minerals (DMLP) issued a total of 7,251,144 common units in its two recent acquisitions. This includes 6,721,144 units in one transaction and 530,000 units in a separate transaction.

What type of assets did Dorchester Minerals (DMLP) acquire in its recent transactions?

Dorchester Minerals (DMLP) acquired mineral, royalty, and overriding royalty interests in its recent transactions.

How were the recent acquisitions by Dorchester Minerals (DMLP) structured?

The recent acquisitions by Dorchester Minerals (DMLP) were structured as non-taxable contribution and exchanges, where contributing entities received common units of the Partnership in exchange for their interests.

In how many states does Dorchester Minerals (DMLP) own oil and natural gas interests?

Dorchester Minerals (DMLP) owns producing and non-producing oil and natural gas interests located in 28 states.