Welcome to our dedicated page for Dorchester Minerals Lp SEC filings (Ticker: DMLP), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Dorchester Minerals, L.P. filings document a publicly traded limited partnership whose common units represent ownership in a business holding crude oil and natural gas mineral, royalty, overriding royalty, net profits and leasehold interests. Form 8-K reports furnish quarterly and annual results, common-unit distribution announcements, Regulation FD releases, financial exhibits and other events tied to Royalty Properties and Net Profits Interests.
The filing record also covers partnership governance through definitive proxy materials and board-related Form 8-K disclosures. These records describe the general partner’s board and advisory committee structure, audit committee listing-rule compliance, indemnity arrangements, compensation disclosures and material events such as settlements involving leasehold interests held by Dorchester Minerals Operating LP.
Dorchester Minerals, L.P. entered into a settlement and mutual release agreement with unrelated third parties to resolve ordinary course litigation involving certain leasehold in Midland County, Texas. The affected leasehold is owned by Dorchester Minerals Operating LP and is subject to the Partnership’s Net Profits Interest.
In connection with this settlement, the Operating Partnership received $15.5 million of proceeds. This amount will be included in the calculation of the April 2026 Net Profits Interest payment to Dorchester Minerals, L.P., providing an incremental cash inflow tied to that distribution period.
Dorchester Minerals, L.P. reports that it has regained compliance with Nasdaq audit committee requirements after filling a board and committee vacancy created by a director’s death.
Independent manager C.W. “Bill” Russell, who served on the Board and Advisory Committee of the general partner, passed away on October 30, 2025, leaving the Advisory Committee with two members instead of the three independent members required by Nasdaq Listing Rules 5615(a)(4)(C) and 5605(c)(2)(A). The Partnership notified Nasdaq on November 3, 2025, and Nasdaq formally acknowledged the non-compliance and granted a cure period on November 10, 2025.
On February 11, 2026, A. Troy Sturrock was appointed to the Board and the Advisory Committee, restoring the committee to three members. On February 27, 2026, Nasdaq sent a letter acknowledging Mr. Sturrock’s appointment, confirming that Dorchester Minerals is now compliant with the applicable listing rules and that the matter is closed.
Dorchester Minerals, L.P. files its annual report describing a royalty-focused oil and natural gas partnership that owns mineral, royalty and net profits interests in 28 states, with 48,255,450 common units outstanding as of February 24, 2026.
The partnership grows primarily by acquiring additional mineral and royalty acreage in exchange for common units, including recent non-taxable S-4 equity deals in Colorado, New Mexico and Texas totaling tens of thousands of net acres. It has no credit facility and generally avoids debt, instead relying on equity issuances already registered for future acquisitions.
Dorchester distributes 100% of available cash each quarter, subject to modest reserves, but cash flow is highly sensitive to volatile oil and gas prices and to operators’ capital decisions, since it does not operate wells or hedge commodity prices. Significant regulatory, environmental, cybersecurity and climate-related developments, plus concentrated exposure to large customers and regions like the Bakken and Permian, are highlighted as key risks.
Dorchester Minerals, L.P. reported full-year 2025 net income of $57.4 million, or $1.16 per common unit, down from $92.4 million, or $2.13 per unit, in 2024. Operating revenues declined to $152.8 million from $161.5 million, reflecting weaker overall results.
As of December 31, 2025, the Partnership’s independent engineering consultant estimated total proved oil and natural gas reserves at 15.6 million barrels of oil equivalent, 61% of which are oil and natural gas liquids and all classified as proved developed producing. About 86% of reserves are tied to Royalty Properties and 14% to Net Profits Interests.
From May 2025 through February 2026, Dorchester Minerals distributed $133.5 million to common unitholders attributable to 2025 activity, highlighting substantial cash distributions despite lower earnings.
DORCHESTER MINERALS, L.P. director Troy Sturrock filed an initial ownership report showing he holds 900 Common Units. These units are reported as held directly and are owned jointly with his spouse. The filing does not report any recent purchases or sales, only the existing ownership position.
Dorchester Minerals, L.P. has appointed A. Troy Sturrock, age 55, as an independent manager on the board of managers of the general partner of its general partner, effective February 11, 2026. His appointment fills the vacancy created by the October 2025 death of C.W. “Bill” Russell.
Mr. Sturrock brings over 25 years of accounting and financial reporting experience, including 20 years focused on the midstream energy sector. He currently serves as Group Senior Vice President, Controller and Principal Accounting Officer of Energy Transfer LP. He will receive the same compensation as other independent managers, serve on the advisory committee that functions as the audit committee, and has entered into the Partnership’s standard indemnity agreement.
Dorchester Minerals Operating LP, described as an entity under common control with Dorchester Minerals, L.P., reported a series of open-market purchases of Common Units. On February 11, 2026, it bought 10,000 Common Units at $25.29 each, bringing its direct holdings to 45,017 units.
It then purchased 5,000 Common Units on February 12, 2026 at $25.08, increasing its position to 50,017 units. A further 5,000-unit purchase on February 13, 2026 at $25.29 raised its directly held stake to 55,017 Common Units. The filing notes these trades were made under a referenced Rule 10b5-1 trading plan adopted on November 12, 2025.
Dorchester Minerals, L.P. filed a current report to furnish a press release announcing its cash distribution for the quarter ended December 31, 2025. The press release, dated January 22, 2026, is provided as Exhibit 99.1 and is incorporated by reference into this report for informational purposes. The company notes that the information under Item 7.01, including Exhibit 99.1, is being furnished rather than filed under the Securities Exchange Act of 1934.
Dorchester Minerals, L.P. director Albert G. Nance III filed an initial statement of beneficial ownership effective 01/01/2026. The filing reports that he beneficially owns 15,419 Common Units of Dorchester Minerals, L.P., held directly. The form shows no derivative securities positions.
Dorchester Minerals, L.P. Chief Financial Officer Leslie A. Moriyama reported equity transactions involving the partnership’s common units. On December 15, 2025, she acquired 4,351 common units at an exercise price of $0 through the vesting and settlement of previously granted notional units under an equity incentive plan. On the same date, 1,756 common units were withheld at $0 to cover tax liabilities associated with this equity award. Following these transactions, she directly beneficially owns 98,208 common units of Dorchester Minerals, L.P., held in her name, jointly with her spouse, or in her Individual Retirement Account.