Dorchester Minerals, L.P. Announces Third Quarter Results
06 November 2020 - 4:10AM
Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP)
announced today the Partnership’s net income for the quarter ended
September 30, 2020 of $5,619,000, or $0.16 per common unit.
A comparison of the Partnership’s consolidated
results for the quarter ended September 30, 2020 and 2019 are set
forth below:
|
Three Months
Ended |
|
Nine Months
Ended |
|
September 30, |
|
September 30, |
|
|
2020 |
|
2019 |
|
|
2020 |
|
2019 |
Operating Revenues |
$ |
12,545,000 |
|
|
$ |
19,569,000 |
|
$ |
34,816,000 |
|
|
$ |
59,200,000 |
Net
Income |
$ |
5,619,000 |
|
|
$ |
12,867,000 |
|
$ |
15,572,000 |
|
|
$ |
40,442,000 |
Net Income
Per Common Unit |
$ |
0.16 |
|
|
$ |
0.35 |
|
$ |
0.43 |
|
|
$ |
1.15 |
The Partnership previously declared its third
quarter distribution in the amount of $0.325612 per common unit
payable on November 12, 2020 to common unit holders of record as of
November 2, 2020. The Partnership’s cash distributions are not
comparable to its net earnings due to timing and other differences
including depletion.
Dorchester Minerals, L.P. is a Dallas based
owner of producing and non-producing oil and natural gas mineral,
royalty, overriding royalty, net profits, and leasehold interests
located 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 |
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