false 0001172358 0001172358 2024-02-22 2024-02-22
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): February 22, 2024
 
DORCHESTER MINERALS, L.P.
(Exact name of registrant as specified in its charter)
 
Delaware
  
000-50175
  
81-0551518
(State or other jurisdiction of
  
(Commission
  
(IRS Employer
incorporation)
  
File Number)
  
Identification No.)
 
 
3838 Oak Lawn, Suite 300, Dallas, Texas 75219
(Address of principal executive offices) (Zip Code)
 
Registrant’s telephone number, including area code:  (214) 559-0300
 
N/A
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
  
Trading Symbol(s)
  
Name of each exchange on which registered
Common Units Representing Limited Partnership Interest
  
DMLP
  
NASDAQ Global Select Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
 
Emerging growth company         ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐
 
1
 
 
Item 2.02
Results of Operations and Financial Condition
 
The Registrant is furnishing its press release dated February 22, 2024, which announces the Registrant's results for the year ended December 31, 2023.  The press release is attached hereto as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.
 
Item 7.01
 And 9.01
Regulation FD Disclosure and Financial Statements and Exhibits
 
 
(c)
Exhibits
 
 
99.1
 
See Item 2.02. Results of Operations and Financial Condition.
 
 
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
Limitation on Incorporation by Reference
 
In accordance with general instructions B.2 and B.6 of Form 8-K, the information disclosed in this report under Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended.
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
DORCHESTER MINERALS, L.P.
  Registrant
   
  by  Dorchester Minerals Management LP
  its General Partner,
  by  Dorchester Minerals Management GP LLC
  its General Partner
   
   
Date: February 22, 2024
By:
/s/ Leslie A. Moriyama
Leslie A. Moriyama
Chief Financial Officer
 
 

Exhibit 99.1

NEWS RELEASE

Dorchester Minerals, L.P.

 

Release Date:

February 22, 2024

3838 Oak Lawn Ave., Suite 300
   

Dallas, Texas 75219-4541

Contact:

Martye Miller

(214) 559-0300

 

 

Dorchester Minerals, L.P. Announces 2023 Results

 

DALLAS, TEXAS -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the year ended December 31, 2023 of $114,117,000 or $2.85 per common unit.

 

A comparison of the Partnership’s consolidated results for the twelve month periods ended December 31, 2023 and 2022 are set forth below:

 

   

Twelve Months Ended

  
   

December 31,

  
   

2023

    

2022

  

Operating Revenues

   $ 163,799,000     $ 170,800,000  

Net Income

   $ 114,117,000     $ 130,607,000  
                 

Net Income Per Common Unit

   $ 2.85     $ 3.35  

 

The Partnership’s independent engineering consultant estimated its total proved oil and natural gas reserves to be 83.3 billion cubic feet of natural gas equivalents (bcfe) as of December 31, 2023. Approximately 82% of these reserves are attributable to the Partnership’s Royalty Properties and 18% are attributable to its Net Profits Interest. Natural gas accounted for 40% of proved reserves as of December 31, 2023, all of which were classified as proved developed producing.

 

The Partnership distributed a total of $137.5 million to its common unitholders from May 2023 through February 2024 attributable to 2023 activity.

 

Dorchester Minerals, L.P. is a Dallas based owner of producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests 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.

 

 
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Document And Entity Information
Feb. 22, 2024
Document Information [Line Items]  
Entity, Registrant Name DORCHESTER MINERALS, L.P.
Document, Type 8-K
Document, Period End Date Feb. 22, 2024
Entity, Incorporation, State or Country Code DE
Entity, File Number 000-50175
Entity, Tax Identification Number 81-0551518
Entity, Address, Address Line One 3838 Oak Lawn, Suite 300
Entity, Address, City or Town Dallas
Entity, Address, State or Province TX
Entity, Address, Postal Zip Code 75219
City Area Code 214
Local Phone Number 559-0300
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Units Representing Limited Partnership Interest
Trading Symbol DMLP
Security Exchange Name NASDAQ
Entity, Emerging Growth Company false
Amendment Flag false
Entity, Central Index Key 0001172358
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