Dorchester Minerals, L.P. Announces Second Quarter Results
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Rhea-AI Summary
Dorchester Minerals, L.P. (NASDAQ: DMLP) has reported its financial results for the second quarter of 2024. The Partnership's net income reached $23,628,000, or $0.57 per common unit, showing an increase from the same period in 2023. Operating revenues for Q2 2024 were $37,360,000, up from $30,619,000 in Q2 2023.
The Partnership declared a second quarter distribution of $0.702058 per common unit, payable on August 8, 2024. For the six months ended June 30, 2024, net income was $41,795,000, slightly lower than the $47,874,000 reported for the same period in 2023. Dorchester Minerals owns producing and non-producing oil and natural gas interests across 28 states.
Positive
- Net income increased to $23,628,000 in Q2 2024, up from $19,804,000 in Q2 2023
- Earnings per unit rose to $0.57 in Q2 2024, compared to $0.50 in Q2 2023
- Operating revenues grew to $37,360,000 in Q2 2024, an increase from $30,619,000 in Q2 2023
- Declared a quarterly distribution of $0.702058 per common unit
Negative
- Six-month net income decreased to $41,795,000 in 2024, down from $47,874,000 in 2023
- Six-month operating revenues declined to $68,339,000 in 2024, compared to $70,786,000 in 2023
Details
News Market Reaction – DMLP
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DALLAS, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended June 30, 2024 of
A comparison of the Partnership’s consolidated results for the quarters ended June 30, 2024 and 2023 are set forth below:
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 30, | June 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Operating Revenues | $ | 37,360,000 | $ | 30,619,000 | $ | 68,339,000 | $ | 70,786,000 | |||||||
| Net Income | $ | 23,628,000 | $ | 19,804,000 | $ | 41,795,000 | $ | 47,874,000 | |||||||
| Net Income Per Common Unit | $ | 0.57 | $ | 0.50 | $ | 1.01 | $ | 1.21 | |||||||
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 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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