Dorchester Minerals, L.P. Announces 2020 Results
February 25 2021 - 12:25PM
Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP)
announced today the Partnership’s net income for the year ended
December 31, 2020 of $21,867,000, or $0.61 per common unit.
A comparison of the Partnership’s consolidated
results for the twelve month periods ended December 31, 2020
and 2019 are set forth below:
|
Twelve Months
Ended |
|
December 31, |
|
2020 |
|
2019 |
Operating
Revenues |
$ |
46,928,000 |
|
$ |
78,799,000 |
Net
Income |
$ |
21,867,000 |
|
$ |
52,765,000 |
Net
Income Per Common Unit |
$ |
0.61 |
|
$ |
1.50 |
The Partnership’s independent engineering
consultant estimated its total proved oil and natural gas reserves
to be 89.8 billion cubic feet of natural gas equivalents (bcfe) as
of December 31, 2020. Approximately 15% of these reserves are
attributable to the Partnership’s Net Profits Interests and 85% are
attributable to its Royalty Properties. Natural gas accounted for
38% of proved reserves as of December 31, 2020, all of which
were classified as proved developed producing.
The Partnership distributed a total of $44.1
million to its common unitholders from May 2020 through
February 2021 attributable to 2020 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 |
(214)
559-0300 |
Dorchester Minerals (NASDAQ:DMLP)
Historical Stock Chart
From Aug 2024 to Sep 2024
Dorchester Minerals (NASDAQ:DMLP)
Historical Stock Chart
From Sep 2023 to Sep 2024