Dorchester Minerals, L.P. Announces 2019 Results
February 27 2020 - 3:00PM
Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP)
announced today the Partnership’s net income for the year ended
December 31, 2019 of $52,765,000, or $1.50 per common unit.
A comparison of the Partnership’s consolidated
results for the twelve month periods ended December 31, 2019
and 2018 are set forth below:
|
Twelve Months Ended |
|
December 31, |
|
|
2019 |
|
|
2018 |
Operating Revenues |
$ |
78,799,000 |
|
$ |
73,278,000 |
Net Income |
$ |
52,765,000 |
|
$ |
53,907,000 |
Net Income Per Common Unit |
$ |
1.50 |
|
$ |
1.61 |
The Partnership’s independent engineering
consultants estimated its total proved oil and natural gas reserves
to be 103.7 billion cubic feet of natural gas equivalents (bcfe) as
of December 31, 2019. Approximately 25% of these
reserves are attributable to the Partnership’s Net Profits
Interests and 75% are attributable to its Royalty Properties.
Natural gas accounted for 44% of proved reserves as of
December 31, 2019, all of which were classified as proved
developed producing.
The Partnership distributed a total of $64.4
million to its common unitholders from May 2019 through
February 2020 attributable to 2019 activity.
Dorchester Minerals, L.P. is a Dallas based
owner of producing and non-producing crude oil and natural gas
mineral, royalty, overriding royalty, net profits, and leasehold
interests 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
3838 Oak Lawn Ave., Suite 300
Dallas, Texas 75219-4541
(214) 559-0300
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