Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2023 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) Delaware 81-0551518 (I.R.S. Employer I ...

ArtistGNDphotography Dorchester Minerals, L.P. (NASDAQ:DMLP) is a Master Limited Partnership [MLP] based in Dallas, Texas, and owns oil and natural gas properties that yield royalty and NPIs. The partnership earns a steady income without incurring risks and costs of operative activities such as drilling and production because third parties manage these activities. Furthermore, DMLP has constantly expanded its assets base, and in 2023, the partnership acquired new properties in Louisiana, New Mexico, and Tex ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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 charte ...

Table of Contents ☐ 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, DC. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or De ...

Financial Performance - For the three months ended March 31, 2023, net cash provided by operating activities increased by 36% compared to the same period in 2022, primarily due to higher NPI payment receipts[60]. - Cash receipts from Royalty Properties in Q1 2023 totaled $24.6 million, with approximately 76% reflecting sales from December 2022 through February 2023[62]. - Cash receipts from NPI during Q1 2023 amounted to $17.5 million, with approximately 31% reflecting sales from November 2022 through January 2023[63]. - As of March 31, 2023, cash and cash equivalents totaled $45.0 million, an increase from $40.8 million at December 31, 2022, indicating improved liquidity[69]. Sales Volumes and Prices - Royalty Properties natural gas sales volumes increased by 16% from 1,147 mmcf in Q1 2022 to 1,330 mmcf in Q1 2023, while oil sales volumes decreased by 18% from 369 mbbls to 302 mbbls[54]. - NPI natural gas sales volumes surged by 170%, from 320 mmcf in Q1 2022 to 864 mmcf in Q1 2023, and NPI oil sales volumes increased by 186%, from 94 mbbls to 269 mbbls[54]. - Average sales prices for Royalty Properties natural gas decreased by 33% to $3.01/mcf, and oil prices decreased by 15% to $68.48/bbl compared to Q1 2022[54]. - Average indicated prices for cash receipts attributable to Royalty Properties during Q1 2023 were $68.92/bbl for oil and $4.77/mcf for natural gas[62]. Operating Costs and Expenses - Operating costs decreased by 17% from Q1 2022 to Q1 2023, primarily due to lower production taxes linked to decreased oil sales volumes[58]. - Depreciation, depletion, and amortization expenses increased by 49% from Q1 2022 to Q1 2023, reflecting adjustments in oil and natural gas reserve estimates[59]. - General and administrative expenses rose by 34% from Q1 2022 to Q1 2023, mainly due to higher compensation and professional service fees[59]. Market Conditions and Risks - Demand and market prices for oil and natural gas remain strong, driven by increased energy use and a global shortage of oil due to sanctions on Russia[68]. - The company cannot predict future price volatility in the oil and natural gas market, which may impact its ability to fund distributions[68]. - The current economic environment remains volatile, and the ultimate impact of COVID-19 and the military conflict in Ukraine on liquidity and cash flows is uncertain[68]. - The company remains cautious about future cash flows due to potential declines in oil prices and increased operating costs[68]. - There have been no significant changes in exposure to market risk during the three months ended March 31, 2023[72]. Internal Controls and Governance - The principal executive officer and principal financial officer evaluated the effectiveness of disclosure controls and procedures, concluding they were effective[72]. - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2023, that materially affected internal controls[73]. - The company has not disclosed any significant changes to critical accounting policies and estimates since the 2022 Annual Report[71]. Liquidity and Future Outlook - The company expects to maintain sufficient liquidity for distributions to unitholders despite uncertainties from COVID-19, market volatility due to the Russian invasion of Ukraine, and rising inflation and interest rates[68].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2022 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) Delaware 81-0551518 (I.R.S. Employer I ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 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 charte ...

Financial Performance - As of June 30, 2022, the company had cash on hand of $4.1 million from its Net Profits Interest (NPI) in various properties[48] - The company acquired mineral and royalty interests representing approximately 3,600 net royalty acres for $14.8 million on March 31, 2022[57] - Oil sales volumes from Royalty Properties increased by 41% year-over-year for the second quarter of 2022, reaching 318 mbbls[62] - Natural gas sales volumes from Royalty Properties increased by 9% year-over-year for the second quarter of 2022, totaling 1,105 mmcf[62] - Average sales price for oil from Royalty Properties increased by 61% year-over-year to $94.52 per bbl for the second quarter of 2022[62] - Lease bonus revenue increased by 182% from the first six months of 2021 to the same period in 2022, primarily due to a lease bonus from the Permian Basin[66] - Net cash provided by operating activities increased by 139% from the first six months of 2021 to the same period in 2022[69] - Cash receipts from Royalty Properties in Q2 2022 totaled $33.9 million, with 74% from oil sales and 26% from prior sales periods[71] - Average indicated prices for oil and natural gas sales from Royalty Properties were $89.14/bbl and $4.59/mcf, respectively[71] - Cash receipts from Net Profits Interest in Q2 2022 amounted to $5.1 million, with 68% from recent sales[72] - Average indicated prices for oil and natural gas sales from NPI properties were $81.42/bbl and $5.31/mcf, respectively[72] - Cash and cash equivalents increased to $43.0 million as of June 30, 2022, up from $28.3 million at the end of 2021[78] Operating Costs and Expenses - Operating costs, including production taxes, increased by 132% year-over-year for the second quarter of 2022[67] - General and administrative expenses rose by 115% year-over-year for the second quarter of 2022, mainly due to higher compensation expenses[68] Market Conditions and Risks - The company’s profitability is significantly affected by fluctuations in oil and natural gas market prices, which have shown sharp increases recently[54] - The economic environment remains volatile, impacting cash flows and liquidity due to potential declines in oil prices[77] Liquidity and Financial Obligations - The partnership expects sufficient liquidity to fund distributions despite uncertainties from COVID-19 and market volatility due to geopolitical tensions[77] - Total lease payments for office space amount to $2.426 million, with a total lease obligation of $1.738 million after interest[75] - The partnership cannot incur indebtedness exceeding $50,000 at any given time, excluding trade payables[76] - The partnership's distributions to unitholders are determined after all expenses, ensuring liquidity for operational costs[74]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 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) D ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2021 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) Delaware (State or other jurisdiction ...