Dorchester Minerals, L.P. Announces First Quarter Results

Rhea-AI Summary

Dorchester Minerals, L.P. (DMLP) reported a net income of $8,761,000, or $0.25 per common unit, for Q1 2020. This represents a decline from $13,979,000, or $0.42 per unit, in Q1 2019. Operating revenues also fell to $15,476,000 from $19,031,000 year-over-year. The Partnership has declared a distribution of $0.477891 per common unit, payable on May 14, 2020. The company operates oil and natural gas interests across 27 states. Forward-looking statements indicate risks including fluctuating oil prices and regulatory changes.

Positive

• Declared a Q1 2020 distribution of $0.477891 per common unit.
• Diverse operations in oil and natural gas across 27 states.

Negative

• Net income decreased by 37% from Q1 2019 to Q1 2020.
• Operating revenues dropped by over 18% year-over-year.

DALLAS, May 07, 2020 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended March 31, 2020 of $8,761,000, or $0.25 per common unit.

A comparison of the Partnership’s consolidated results for the quarter ended March 31, 2020 and 2019 are set forth below:

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		Three Months Ended
		March 31,
15%; width:15%; min-width:15%;">	37%; width:37%; min-width:37%;">	15%; width:15%; min-width:15%;">2020	2%; width:2%; min-width:2%;">	15%; width:15%; min-width:15%;"> 2019	15%; width:15%; min-width:15%;">
	Operating Revenues	$15,476,000		$19,031,000
	Net Income	$8,761,000		$13,979,000
	Net Income Per Common Unit	$0.25		$0.42

The Partnership previously declared its first quarter distribution in the amount of $0.477891 per common unit payable on May 14, 2020 to common unit holders of record as of May 4, 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

FAQ

What was Dorchester Minerals' net income for Q1 2020?

Dorchester Minerals reported a net income of $8,761,000, or $0.25 per common unit for Q1 2020.

How much did Dorchester Minerals earn in Q1 2019?

In Q1 2019, Dorchester Minerals earned $13,979,000, or $0.42 per common unit.

What is the distribution amount for Dorchester Minerals in May 2020?

The distribution amount declared is $0.477891 per common unit, payable on May 14, 2020.

What was the operating revenue for Dorchester Minerals in Q1 2020?

Operating revenues for Q1 2020 were $15,476,000, down from $19,031,000 in Q1 2019.

What risks does Dorchester Minerals face according to the press release?

Risks include changes in oil and natural gas prices, economic conditions, and regulatory changes.