Dorchester Minerals, L.P. Announces Second Quarter Results
Dorchester Minerals, L.P.
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Rhea-AI Summary
Dorchester Minerals, L.P. (NASDAQ-DMLP) reported a substantial net income of $16.51 million or $0.46 per common unit for Q2 2021. This marks a significant increase compared to $1.19 million or $0.03 per common unit in Q2 2020. Operating revenues rose to $21.36 million, enhancing the financial position of the Partnership. Additionally, a second-quarter distribution of $0.480528 per unit was declared, payable on August 12, 2021. Risks include fluctuations in oil and gas prices and regulatory changes that may impact future performance.
Positive
- Net income increased significantly to $16.51 million in Q2 2021 from $1.19 million in Q2 2020.
- Operating revenues rose to $21.36 million, compared to $6.80 million in the same quarter last year.
- A strong distribution of $0.480528 per common unit was declared, showcasing healthy cash flow.
Negative
- Potential risks include volatility in oil and gas prices affecting revenue.
- Changes in regulatory requirements could impact operations and financial performance.
Details
News Market Reaction – DMLP
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DALLAS, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended June 30, 2021 of
A comparison of the Partnership’s consolidated results for the quarters ended June 30, 2021 and 2020 are set forth below:
| Three Months Ended | Six Months Ended | ||||||||||
| June 30, | June 30, | ||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||
| Operating Revenues | $ | 21,361,000 | $ | 6,795,000 | $ | 39,150,000 | $ | 22,271,000 | |||
| Net Income | $ | 16,509,000 | $ | 1,192,000 | $ | 28,310,000 | $ | 9,953,000 | |||
| Net Income Per Common Unit | $ | 0.46 | $ | 0.03 | $ | 0.79 | $ | 0.28 | |||
The Partnership previously declared its second 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 26 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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