Dorchester Minerals, L.P. Announces 2018 Results
February 28 2019 - 2:06PM
Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP)
announced today the Partnership’s net income for the year ended
December 31, 2018 of $53,907,000, or $1.61 per common unit.
A comparison of the Partnership’s consolidated
results for the twelve month periods ended December 31, 2018
and 2017 are set forth below:
|
|
|
Twelve Months Ended |
|
December 31, |
|
2018 |
|
2017 |
Operating Revenues |
$ |
73,278,000 |
|
$ |
57,291,000 |
Net
Income |
$ |
53,907,000 |
|
$ |
38,424,000 |
|
|
|
|
|
|
Net
Income Per Common Unit |
$ |
1.61 |
|
$ |
1.18 |
|
|
|
|
|
|
The Partnership’s independent engineering
consultants estimated its total proved oil and gas reserves to be
98.5 billion cubic feet of natural gas equivalents (bcfe) as of
December 31, 2018. Approximately 33% of these reserves
are attributable to the Partnership’s Net Profits Interests and 67%
are attributable to its Royalty Properties. Natural gas
accounted for 45% of proved reserves as of December 31, 2018,
all of which were classified as proved developed producing.
The Partnership distributed a total of $60.3
million to its common unitholders from May 2018 through
February 2019 attributable to 2018 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 and 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 Miller3838 Oak Lawn Ave., Suite 300Dallas, Texas
75219-4541(214) 559-0300
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