Dorchester Minerals, L.P. Announces First Quarter Results
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Rhea-AI Summary
Dorchester Minerals, L.P. announced their first quarter results with a net income of $18,167,000 and earnings of $0.44 per common unit. The operating revenues for the quarter ended March 31, 2024, were $30,979,000. The Partnership declared a distribution of $0.781837 per common unit. Dorchester Minerals, L.P. is a Dallas-based owner of oil and gas mineral interests trading under the symbol DMLP on NASDAQ.
Positive
Stable revenue generation with operating revenues of $30,979,000 for the first quarter of 2024.
Declared distribution of $0.781837 per common unit showcasing commitment to shareholders.
Presence in 28 states providing diversification and growth opportunities.
Negative
Decrease in net income from $28,070,000 in Q1 2023 to $18,167,000 in Q1 2024.
Lower net income per common unit at $0.44 compared to $0.71 in Q1 2023.
Challenges in the oil and gas industry may impact future earnings and distributions.
Details
News Market Reaction – DMLP
The recorded move for DMLP in the trading session of this news was -6.93%.
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DALLAS, May 02, 2024 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended March 31, 2024 of
A comparison of the Partnership’s consolidated results for the quarter ended March 31, 2024 and 2023 are set forth below:
| Three Months Ended | |||||||
| March 31, | |||||||
| 2024 | 2023 | ||||||
| Operating Revenues | $ | 30,979,000 | $ | 40,167,000 | |||
| Net Income | $ | 18,167,000 | $ | 28,070,000 | |||
| Net Income Per Common Unit | $ | 0.44 | $ | 0.71 | |||
The Partnership previously declared its first quarter distribution in the amount of
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 28 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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