DMLP News & Events

Dorchester Minerals announced that it has entered into an agreement to acquire mineral and royalty interests. On July 3, the partnership entered into a non-taxable contribution and exchange agreement with unrelated third parties to acquire mineral and royalty interests totaling approximately 3,100 net royalty acres located in five counties across the Williston Basin in North Dakota. Cash received by the contributing entities on or after April 1 will be contributed to the partnership at closing. The contributing entities will convey their interests to the partnership in exchange for 850,000 common units representing limited partnership interests in Dorchester Minerals as adjusted pursuant to the terms of the contribution and exchange agreement. The acquisition is expected to close on July 31, subject to customary closing conditions.

Dorchester Minerals and Dorchester Minerals Operating have entered into a settlement and mutual release agreement with unrelated third parties. The settlement agreement resolves ordinary course litigation affecting certain leasehold in Midland County, Texas, which is owned by the Operating Partnership and subject to the net profits interest. The Operating Partnership received proceeds of $15.5M, which will be included in the calculation of the April net profits interest payment to Dorchester Minerals.

Reports Q2 revenue $32.4M vs. $37.36M last year.

Reports Q3 revenue $53.47M vs. $42.59M last year.