Welcome to our dedicated page for Dorchester Minerals LP news (Ticker: DMLP), a resource for investors and traders seeking the latest updates and insights on Dorchester Minerals LP stock.
Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded Delaware limited partnership that commenced operations on January 31, 2003. The company resulted from the combination of Dorchester Hugoton, Ltd., Republic Royalty Company, L.P., and Spinnaker Royalty Company, L.P. Based in Dallas, Texas, Dorchester Minerals specializes in the acquisition, ownership, and administration of royalty properties and net profits interests (NPIs).
Operating as the owner of both producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests, Dorchester Minerals has a widespread presence with leasehold interests in approximately 592 counties and parishes across 28 states. The company generates revenue primarily from royalties, net profits interests, and lease bonuses, offering a distinctive investment opportunity in the energy sector.
Dorchester's common units are listed on the NASDAQ Global Select Market under the symbol DMLP. The company’s executive offices are located at 3838 Oak Lawn Avenue, Suite 300, Dallas, Texas, 75219-4541. You can reach them at (214) 559-0300. For more information, Dorchester maintains an extensive online presence at www.dmlp.net, where investors can access the latest annual meeting presentations, current filings, and other pertinent details.
In the most recent quarterly report, Dorchester Minerals announced a net income of $19,804,000, or $0.50 per common unit, for the quarter ended June 30, 2023. This reflects the company's robust financial health and proactive management in navigating the volatile energy market.
With a strong history and a strategic focus on maximizing the value of its diversified mineral and royalty interests, Dorchester Minerals remains a significant player in the oil and gas industry, committed to delivering consistent returns to its stakeholders.
Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a cash distribution of $0.989656 per common unit for Q1 2023, set for payment on May 11, 2023, to unitholders of record by May 1, 2023. The total cash receipts from the Partnership's Royalty Properties for the quarter reached approximately $24.6 million, with oil sales accounting for 76% of this amount. Cash receipts from Net Profits Interest amounted to about $17.5 million, with a mix of oil and gas sales from various periods. Additionally, lease bonuses and other income contributed around $0.5 million to the receipts. The Partnership’s Annual Meeting has been rescheduled for a later date, and an Annual Investor Presentation is scheduled for June 21, 2023, in Dallas, TX. Forward-looking statements included in the release note various risks, including oil price changes and regulatory impacts.
Dorchester Minerals, L.P. (NASDAQ-DMLP) reported a net income of $130.6 million or $3.35 per common unit for the year ending December 31, 2022. This marks a significant increase in income compared to $70.2 million in 2021. Operating revenues rose to $170.8 million from $93.4 million in the prior year. The Partnership's total proved oil and natural gas reserves were estimated at 92.7 billion cubic feet of natural gas equivalents, with natural gas comprising 42% of these reserves. Additionally, $142.2 million was distributed to unitholders from May 2022 to February 2023.
On January 19, 2023, Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a fourth quarter 2022 cash distribution of $0.884339 per common unit, payable on February 9, 2023, to unitholders of record as of January 30, 2023. The Partnership reported cash receipts of approximately $29.0 million from Royalty Properties, with 79% attributed to oil and gas sales during September 2022 to November 2022. Additionally, receipts from Net Profits Interests totaled $9.5 million, with 52% from sales in the same period. Lease bonus and other income contributed $0.5 million.
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.
Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a third-quarter 2022 cash distribution of $1.135019 per common unit, payable on November 10, 2022, to unitholders of record as of October 31, 2022. The total cash receipts from Royalty Properties for the quarter were approximately $35.0 million, with 79% stemming from oil and gas sales in the summer months. Net Profits Interests contributed around $6.4 million, while lease bonuses and other income added $7.5 million. Dorchester owns a diverse portfolio of interests across 28 states.
Dorchester Minerals, L.P. (NASDAQ-DMLP) announced a significant lease transaction on October 3, 2022. The Partnership leased 243 net acres in Reagan County, Texas, for $30,000 per acre with a 25% royalty. This lease agreement generates a lease bonus payment of approximately $7.3 million, which will be distributed to unitholders in the third quarter. Dorchester Minerals is engaged in owning various oil and natural gas interests across 28 states.
On September 30, 2022, Dorchester Minerals, L.P. (NASDAQ-DMLP) announced the completion of its acquisition of approximately 2,100 net royalty acres in 12 counties across New Mexico and Texas. The transaction, structured as a non-taxable contribution and exchange, involved the issuance of 816,719 common limited partnership units to the contributing entity. Dorchester Minerals is a significant player in the oil and natural gas industry, with interests spanning across 28 states, positioning itself for potential growth in royalty revenue.
William Casey McManemin will step down as CEO of Dorchester Minerals, L.P. on October 1, 2022, after leading the company since its formation in 2001. His successor, Bradley J. Ehrman, previously served as the Engineering Manager and COO. McManemin will continue to support key initiatives and serve as Chairman of the Board. Under McManemin’s leadership, the company experienced significant growth, despite economic volatility, positioning it for long-term value creation for unitholders.
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