SOURCE: Dorchester Minerals, L.P.

November 07, 2014 11:51 ET

Dorchester Minerals, L.P. Announces Third Quarter Results

DALLAS, TX--(Marketwired - Nov 7, 2014) - Dorchester Minerals, L.P. (the "Partnership") (NASDAQ: DMLP) announced today the Partnership's net income for the quarter ended September 30, 2014 of $10,969,000, or $0.35 per common unit.

A comparison of the Partnership's consolidated results for the periods ended September 30, 2014 and 2013 are set forth below:

         
    Three Months Ended   Nine Months Ended
    September 30,   September 30,
    2014   2013   2014   2013
Operating Revenues   $ 15,716,000   $ 16,440,000   $ 51,028,000   $ 46,953,000
Net Income     10,969,000     10,749,000     36,535,000     30,422,000
Net Income Per Common Unit   $ 0.35   $ 0.34   $ 1.15   $ 0.96
                         

The Partnership previously declared its third quarter distribution in the amount of $0.447805 per common unit paid on October 30, 2014 to common unit holders of record as of October 20, 2014. The Partnership's cash distributions are not comparable to its net earnings due to timing and other differences including depletion.

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 and 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 Information

  • Contact:
    Casey McManemin
    (214) 559-0300