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 net income of $1,192,000, or $0.03 per common unit, for the quarter ending June 30, 2020. This marks a significant decrease from the previous year, where net income was $13,596,000. Operating revenues also fell to $6,795,000 compared to $20,600,000 in 2019. A distribution of $0.226318 per common unit is payable on August 13, 2020, to shareholders on record as of August 3, 2020. The company holds interests in oil and natural gas across 27 states.
Positive
- Distribution of $0.226318 per common unit declared, payable August 13, 2020.
Negative
- Net income dropped to $1,192,000 from $13,596,000 YoY.
- Operating revenues decreased significantly from $20,600,000 in 2019 to $6,795,000 in 2020.
- Net income per common unit fell to $0.03 from $0.38 YoY.
Details
News Market Reaction – DMLP
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DALLAS, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended June 30, 2020 of
A comparison of the Partnership’s consolidated results for the quarter ended June 30, 2020 and 2019 are set forth below:
| Three Months Ended | Six Months Ended | ||||||||||||
| June 30, | June 30, | ||||||||||||
| 2020 | 2019 | 2020 | 2019 | ||||||||||
| Operating Revenues | $ | 6,795,000 | $ | 20,600,000 | $ | 22,271,000 | $ | 39,631,000 | |||||
| Net Income | $ | 1,192,000 | $ | 13,596,000 | $ | 9,953,000 | $ | 27,575,000 | |||||
| Net Income Per Common Unit | $ | 0.03 | $ | 0.38 | $ | 0.28 | $ | 0.80 | |||||
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 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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