Dorchester Minerals, L.P. Announces the Acquisition of Producing and Nonproducing Mineral and Royalty Properties in 14 States...
April 02 2019 - 2:45PM
On March 29, 2019, Dorchester Minerals, L.P. (“DMLP”) and
affiliates of its General Partner closed the acquisition of
producing and nonproducing mineral, royalty and net profits
interests from multiple parties. The mineral and royalty
properties consist of varying undivided interests totaling
approximately 76,000 net acres located in 172 counties in 14
states, including positions in the Bakken Trend of North Dakota and
interests in multiple enhanced oil recovery units in the Permian
Basin. Oil and gas sales volumes attributable to the mineral and
royalty properties during 2018 were approximately 88,000 bbls
(including liquids) and 160,000 mcf and contributed approximately
88% of the acquired interests’ net operating income in 2018.
The transaction is structured as a non-taxable contribution and
exchange. The contributing entities conveyed their interests to
DMLP and affiliates of its General Partner in exchange for
2,400,000 common limited partnership units.
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 Miller(214) 559-0300
3838 Oak Lawn Ave., Suite 300
Dallas, Texas 75219-4541
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