Financial Performance - Dorchester Minerals, L.P. reported a net income of $92,449,000 for the year ended December 31, 2024, translating to $2.13 per common unit, a decrease from $114,117,000 or $2.85 per common unit in 2023 [1] - Operating revenues for 2024 were $161,523,000, slightly down from $163,799,000 in 2023 [1] Reserves and Production - As of December 31, 2024, the total proved oil and natural gas reserves were estimated at 17.0 million barrels of oil equivalent (mmboe), with 86% attributed to Royalty Properties and 14% to Net Profits Interest [1] - Oil and natural gas liquids comprised 65% of the proved reserves, all of which were classified as proved developed producing [1] Distributions to Unitholders - The Partnership distributed a total of $141.6 million to its common unitholders from May 2024 through February 2025, reflecting the activity attributable to 2024 [2] Company Overview - Dorchester Minerals, L.P. is based in Dallas and owns producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests across 28 states [2]

Cash Distribution - Dorchester Minerals, L.P. announced a cash distribution for the quarter ended December 31, 2024[4] - The press release detailing the cash distribution was issued on January 23, 2025[5] Financial Results - The financial results and operational conditions are referenced in the attached press release as Exhibit 99.1[6]

Core Points - Dorchester Minerals, L.P. announced a cash distribution of $0.739412 per common unit for the fourth quarter of 2024, payable on February 13, 2025, to unitholders of record as of February 3, 2025 [1] Financial Performance - Cash receipts from Royalty Properties in Q4 2024 totaled approximately $34.9 million, with 68% from oil sales (September to November 2024) and natural gas sales (August to October 2024), and 32% from prior sales periods [2] - Cash receipts from Net Profits Interest during the same period amounted to approximately $5.4 million, with 61% from oil and natural gas sales (August to October 2024) and 39% from prior sales periods [2] - Cash receipts from lease bonus and other income in Q4 2024 totaled approximately $0.7 million [3] Company Overview - Dorchester Minerals, L.P. is based in Dallas and owns producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests across 28 states [3]

Financial Performance - For the three months ended September 30, 2024, natural gas sales volumes from Royalty Properties increased by 17% to 1,569 mmcf compared to 1,344 mmcf in the same period of 2023[54]. - Oil sales volumes from Royalty Properties increased by 35% to 642 mbbls for the three months ended September 30, 2024, compared to 477 mbbls in the same period of 2023[54]. - The company experienced a decrease in NPI natural gas sales volumes by 7% for the nine months ended September 30, 2024, compared to the same period in 2023[54]. - Cash receipts from Royalty Properties in Q3 2024 totaled $40.2 million, with average indicated prices for oil and natural gas sales at $69.91/bbl and $1.08/mcf, respectively[61]. - Cash receipts from NPI in Q3 2024 totaled $6.0 million, with average indicated prices for oil and natural gas sales at $65.51/bbl and $1.27/mcf, respectively[62]. - Net cash provided by operating activities remained consistent from the first nine months of 2023 to the same period of 2024, driven by higher royalties revenue receipts, net of production taxes and operating expenses[59]. Acquisitions and Investments - The company acquired mineral, royalty, and overriding royalty interests in approximately 14,225 net mineral acres for $202.6 million on September 30, 2024[45]. - The company also acquired mineral interests totaling approximately 1,204 net royalty acres in Colorado for $16.0 million on September 30, 2024[46]. - Cash receipts attributable to contributed cash from two acquisitions closed on September 30, 2024, totaled approximately $6.8 million, reflecting receipts from the two months ended August 31, 2024[61]. Costs and Expenses - Operating costs increased by 11% from the third quarter of 2023 to the same period of 2024, primarily due to higher oil and natural gas sales volumes[56]. - Depreciation, depletion, and amortization increased by 52% from the third quarter of 2023 to the same period of 2024[57]. - General and administrative expenses increased by 3% from Q3 2023 to Q3 2024 and by 5% from the first nine months of 2023 to the same period of 2024, primarily due to higher compensation expenses and increased professional service fees[58]. Liquidity and Financial Position - Cash and cash equivalents increased to $56.5 million as of September 30, 2024, up from $47.0 million at December 31, 2023[70]. - The partnership expects to maintain sufficient liquidity to fund distributions to unitholders and operations despite potential uncertainties from global military conflicts and economic conditions[67]. - Total lease obligations as of September 30, 2024, amount to $1.107 million, with future lease payments summarized in a detailed table[69]. Market Influences - The company’s profitability is significantly affected by fluctuating oil and natural gas market prices, influenced by global events and supply chain disruptions[43]. Accounting Policies - The company has not incurred any significant changes to its critical accounting policies and related estimates since the last annual report[69].

Membership and Governance - The membership interests have not been registered under the Securities Act of 1933, indicating potential limitations on their sale or transfer[1] - The company has established provisions for initial and subsequent capital contributions, ensuring financial stability and member commitment[4] - The agreement outlines the powers, duties, and obligations of members, emphasizing the importance of governance and accountability[5] - The company has a structured approach to meetings, including annual and special meetings, to facilitate member engagement and decision-making[6] - The agreement includes detailed sections on indemnification, ensuring protection for members and officers against liabilities incurred in their roles[24] - The company has established a clear process for the transfer of interests, which includes restrictions to maintain control over membership[27] - Members cannot resign or withdraw from the Company without prior written consent, ensuring stability in membership[69] - The Members have the right to make decisions on specific matters, requiring a two-thirds majority for significant actions such as equity issuance and mergers[70] - The Board of Managers consists of five appointed Managers and three independent Managers, ensuring diverse governance[82] - Annual meetings of Members are held on March 1 each year, allowing for the election of Independent Managers and other business transactions[74] - Special meetings can be called by the Chairman or any two Members, ensuring flexibility in decision-making[76] - A quorum for meetings requires a majority of Members present, either in person or by proxy, to conduct business[78] - Members can take actions without a meeting if a written consent is signed by the required number of Members, streamlining decision processes[79] - The Company must establish a succession plan to ensure continuity in management as Membership changes[73] - The Company cannot take significant actions, such as asset sales or bankruptcy filings, without Member Consent, protecting Member interests[72] - The Board of Managers has the authority to manage the Company's affairs, but individual Managers cannot bind the Company without Board approval[81] - Appointment Rights allow specific Members to nominate Independent Managers, ensuring representation in governance[83] - Each Appointed Manager serves until death, resignation, or removal, with vacancies filled by the Appointing Member[84] - Independent Managers on the Advisory Committee serve until the next annual meeting of limited partners, with vacancies filled by written notice[86] - A Change in Control of any Member results in the loss of appointment and removal rights unless unanimously consented by other Members[88] - Managers are not required to be residents of Delaware or Members of the Company[87] - Compensation for Managers includes reimbursement for expenses, but Appointed Managers do not receive compensation for their service[91] - The Board of Managers may designate a Chairman, who presides over meetings and serves until death, resignation, or removal[92] - A quorum for the Board of Managers consists of five Managers, with at least four being Member Appointed Managers[94] - Significant actions, such as mergers or asset sales, require a two-thirds consent of the Appointed Managers[95] - Managers may participate in meetings via conference telephone, which counts as presence at the meeting[100] Financial Performance and Projections - The company reported a revenue increase of 15% year-over-year, reaching $1.2 billion in Q3 2023[1] - User data showed a growth of 25% in active users, totaling 5 million by the end of the quarter[2] - The company provided guidance for Q4 2023, expecting revenue between $1.3 billion and $1.4 billion, representing a growth of 10% to 16%[3] - New product launches included a premium subscription service, projected to generate an additional $50 million in annual revenue[4] - The company is investing $200 million in R&D for new technologies aimed at enhancing user experience[5] - Market expansion efforts are underway in Europe, with a target to increase market share by 5% within the next year[6] - The company completed a strategic acquisition of a smaller competitor for $300 million, expected to enhance its product offerings[7] - A new marketing strategy was introduced, focusing on digital channels, aiming to increase customer engagement by 30%[8] - The company reported a net profit margin of 20%, up from 18% in the previous quarter[9] - Cash flow from operations improved by 12%, totaling $250 million for the quarter[10] Tax and Financial Reporting - The Company reported a net profit for the fiscal year, with taxable income adjustments as per Code Section 703(a) [45] - Ownership percentages among members are as follows: Vaughn 20.5%, SAM 20.5%, SAOG 20.0%, Peak LP 19.5%, and Raley GP 19.5% [47] - The Company is classified as a partnership for federal and state income tax purposes, ensuring no treatment as a corporation [57] - The Company intends to maintain Capital Accounts in accordance with Treasury Regulations Section 1.704-1(b) to ensure compliance with tax allocation requirements[145] - Each Member consents to the allocation of Company income, gain, loss, deduction, and credit for federal income tax purposes as per their Ownership Percentages[126] - Net Profit and Net Loss will be allocated among Members pro rata according to their Ownership Percentages[128] - Adjustments to Capital Accounts will reflect the manner in which unrealized Net Profit or Net Loss inherent in property would be allocated upon disposition at fair market value[142] - The Company will maintain a separate Capital Account for each Member, credited with cash contributions and share of Gross Income and Net Profit[140] - Any adjustments to the tax basis of Company property will be reflected as adjustments to the Capital Accounts of the Members[141] - A deficit in a Member's Capital Account is not considered an asset of the Company, and Members are not obligated to restore negative balances[147] - "Net Cash Flow" is defined as all Company cash revenues minus expenses, reserves, and obligations, plus proceeds from sales and refinancing[148] - Net Cash Flow, if any, will be distributed to Members pro rata according to their Ownership Percentages as determined by the Board of Managers[149] - The Company will keep full and accurate books of account for all transactions and provide monthly unaudited profit and loss statements to Members[156] - The fiscal year of the Company ends on December 31, and the accounting method used is cash basis[156] - The Company will prepare and file income tax returns in compliance with the Agreement and provide necessary documentation to Members[158] - SAM is designated as the "Tax Matters Partner" to manage administrative proceedings with the IRS regarding Company income and tax items[161] - Funds of the Company will be deposited in interest-bearing accounts or invested in approved financial instruments as selected by the Board of Managers[162] Indemnification and Liability - The Company may indemnify its Members, Managers, and officers against legal proceedings to the fullest extent permitted by law[117] - The right to indemnification includes the advance of reasonable expenses incurred by covered persons in legal proceedings[118] - The Company may indemnify employees and agents to the same extent as Members and Managers, ensuring broad protection[120] - The right to indemnification is non-exclusive, allowing for additional rights under other laws or agreements[121] - The Company may purchase and maintain insurance to protect itself and its partners against any expense, liability, or loss as deemed reasonable by the Board of Managers[122] - Any indemnification or advance of expenses to a person must be reported in writing to the Members within a 30-day period following the indemnification or advance[123] - Covered Persons are not subject to personal liability due to indemnification under this Agreement[124] - The provisions of Article XII are for the benefit of Covered Persons and their heirs, successors, and assigns, and cannot be amended to diminish their rights without consent[125] - If any portion of Article XII is invalidated, the Company will still indemnify any Person to the fullest extent permitted by applicable law[124] Dissolution and Liquidation - Events of Dissolution include Member consent for dissolution, lack of Members, or judicial decree for dissolution[164] - The Board of Managers is responsible for expeditiously dissolving and liquidating the Company upon dissolution, ensuring liabilities to creditors are paid first[165] - A final certified statement of the Company's assets and liabilities will be prepared and provided to Members within 90 days after dissolution[166] - If liquidation is impractical, assets may be distributed in-kind to Members, with adjustments to Capital Accounts reflecting unrealized taxable income[167] - In the event of deemed liquidation without an Event of Dissolution, the Company's assets will be contributed in-kind to a new limited liability company[169] Dispute Resolution - Disputes will first be attempted to be resolved through good faith negotiation among executives, followed by mediation if unresolved[178] - Arbitration will be conducted in Dallas, Texas, under the American Arbitration Association rules if disputes are not resolved within specified timeframes[179] - The arbitrators will not award damages exceeding compensatory damages, and their decisions will be final and binding[182] - The Agreement is governed by the internal laws of the State of Delaware, excluding any conflict of law rules[177] - Each party shall pay its own arbitration expenses, with arbitrators' expenses shared equally, unless claims are deemed unreasonable[185] - Members waive the right to commence any court action regarding disputes under the agreement, with actions to be brought in Dallas, Texas[186] - Any monetary references in the agreement are in U.S. dollars[186]

Financial Performance - The Partnership announced a cash distribution of $0.702058 per common unit for Q2 2024, payable on August 8, 2024[27]. - Oil sales volumes from Royalty Properties increased by 11% to 1,275 mbbls in June 2024 compared to 1,153 mbbls in June 2023[33]. - Natural gas sales volumes from Royalty Properties increased by 2% to 2,543 mmcf in June 2024 compared to 2,483 mmcf in June 2023[33]. - Cash receipts from Royalty Properties totaled $26.1 million in Q2 2024, with average indicated prices of $70.48/bbl for oil and $1.53/mcf for natural gas[41]. - Net cash provided by operating activities decreased by 16% from the first six months of 2023 to the same period in 2024, attributed to lower NPI payment receipts[39]. Operating Costs and Expenses - Operating costs increased by 28% from Q2 2023 to Q2 2024, primarily due to higher oil and natural gas sales volumes[37]. - General and administrative expenses decreased by 6% from Q2 2023 to Q2 2024, mainly due to one-time expenses related to an unsuccessful acquisition[38]. Liquidity and Cash Flow - The Partnership's liquidity is primarily supported by cash flows from Royalty Properties and NPI, with distributions determined after all expenses are paid[43]. - Cash and cash equivalents totaled $35.2 million at June 30, 2024, down from $47.0 million at December 31, 2023, indicating a decrease of approximately 25.5%[49]. - The company expects sufficient liquidity to fund distributions to unitholders despite uncertainties from global military conflicts and inflation, which may impact cash flows[46]. Market and Economic Conditions - Future distributions to unitholders may be affected by economic conditions in the oil and natural gas market, including potential declines in oil prices[46]. - The current economic environment is described as volatile, with unpredictable long-term impacts on cash flows[46]. - The company is monitoring the impact of ongoing global military conflicts and COVID-19 variants on its operations and liquidity[46]. - There have been no significant changes in exposure to market risk during the three months ended June 30, 2024[51]. Lease Obligations - Total lease payments amount to $1.725 million, with total lease obligations standing at $1.175 million after accounting for interest[48]. - The total lease payments are scheduled to increase gradually from $178,000 in 2024 to $380,000 in 2028[48]. Partnership Agreements and Policies - The company has a partnership agreement that prohibits incurring indebtedness exceeding $50,000, excluding trade payables[45]. - The company has not reported significant changes to critical accounting policies and estimates since the last annual report[48]. Acquisitions - The Partnership acquired mineral interests totaling approximately 1,485 net royalty acres in Colorado for $17.0 million in common units on March 28, 2024[31].

Company Overview - Dorchester Minerals reported its results for the quarter ended June 30, 2024, in a press release dated August 1, 2024[4]. - The company is listed on the NASDAQ Global Select Market under the trading symbol DMLP[3]. - The company is not classified as an emerging growth company, indicating it has opted for full compliance with financial accounting standards[3]. Financial Reporting - The financial results include key metrics that will be detailed in the attached press release, which is incorporated by reference[4]. - The report is filed under the Securities Exchange Act of 1934, ensuring compliance with regulatory requirements[5]. - The filing does not include any new or revised financial accounting standards as per the extended transition period[3]. - The report includes a signature from the Chief Financial Officer, Leslie A. Moriyama, affirming the accuracy of the disclosed information[6]. Operational Insights - The press release is expected to provide insights into operational performance and financial condition for the quarter[4]. - The results will likely highlight user data and market trends relevant to Dorchester Minerals' operations[4]. - Future outlook and performance guidance may be discussed in the detailed press release[4].

Core Insights - Dorchester Minerals, L.P. reported second quarter cash receipts of approximately $26.1 million from Royalty Properties, with 74% from oil sales and natural gas sales during March to May 2024, and 26% from prior sales periods [1] - The Partnership's Net Profits Interest generated cash receipts of approximately $6.4 million, with 69% from oil and natural gas sales during February to April 2024, and 31% from prior sales periods [1] - The cash receipts from lease bonus and other income totaled approximately $0.5 million during the second quarter [3] - The Partnership announced a cash distribution of $0.702058 per common unit for the second quarter, payable on August 8, 2024, to unitholders of record as of July 29, 2024 [7] Company Overview - Dorchester Minerals, L.P. is based in Dallas and owns producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests across 28 states [2] - The common units of Dorchester Minerals, L.P. are traded on the Nasdaq Global Select Market under the symbol DMLP [2] Tax and Regulatory Information - A limited number of unitholders may require detailed information disclosed on Schedule K-3 for specific reporting requirements [4] - Distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate, with brokers and nominees acting as withholding agents [5] - The Partnership's 2023 Schedule K-3 reflecting items of international tax relevance is available online for unitholders [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC. 20549 FORM 10-Q (Mark One) Table of Contents ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 000-50175 DORCHESTER MINERALS, L.P. (Exact name of registrant as specified in its charter) ( ...

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 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 obligatio ...