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 ...

Revenue and Sales Performance - Operating revenues increased 92% from $12.5 million during Q3 2020 to $24.0 million during Q3 2021, driven by higher Royalty Properties oil sales volumes and prices [65]. - Oil sales volumes attributable to Royalty Properties remained consistent from Q3 2020 to Q3 2021, with oil sales volumes of 271 mbbls in Q3 2021, a 4% increase from 260 mbbls in Q3 2020 [61]. - Natural gas sales volumes attributable to Royalty Properties were 971 mmcf in Q3 2021, consistent with 973 mmcf in Q3 2020 [61]. - Average sales price for Royalty Properties oil increased 67% from $36.34 per bbl in Q3 2020 to $60.65 per bbl in Q3 2021 [61]. - Cash receipts from Royalty Properties in Q3 2021 totaled $17.3 million, with 77% from oil and natural gas sales during May to August 2021 [71]. - Average prices for oil and natural gas sales from Royalty Properties were $59.96/bbl and $3.03/mcf, respectively [71]. - Cash receipts from Net Profits Interests (NPI) in Q3 2021 amounted to $3.3 million, with average prices of $59.42/bbl for oil and $3.26/mcf for natural gas [72]. Expenses and Costs - General and administrative expenses decreased 59% from $2.2 million in Q3 2020 to $0.9 million in Q3 2021, primarily due to non-recurring costs related to the Hugoton NPI divestiture [68]. - Operating costs, including production taxes, increased 40% from $1.5 million in Q3 2020 to $2.1 million in Q3 2021, mainly due to higher production taxes [66]. - NPI natural gas sales decreased 42% from 528 mmcf in Q3 2020 to 304 mmcf in Q3 2021, reflecting lower production levels [61]. Cash Flow and Liquidity - Net cash provided by operating activities increased 48% from $32.0 million during the first nine months of 2020 to $47.5 million during the same period in 2021 [69]. - Cash and cash equivalents increased to $22.3 million as of September 30, 2021, up from $11.2 million at December 31, 2020 [79]. - The company expects sufficient liquidity to fund distributions to unitholders despite uncertainties from COVID-19 and market volatility [77]. - Approximately 23% of cash receipts were from prior sales periods, indicating ongoing revenue streams [71]. - The current economic environment remains volatile, impacting future cash flows and liquidity [77]. - The company anticipates that expenses will vary with oil and natural gas sales prices, affecting liquidity management [74]. Capital Commitments and Financial Stability - The company had outstanding capital commitments of $1.7 million as of September 30, 2021, primarily in the Bakken region [52]. - The partnership agreement restricts incurring indebtedness beyond $50,000, ensuring financial stability [76]. - The company does not have liabilities for exploration or production costs, minimizing financial risk [75].

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 June 30, 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) De ...

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, 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) D ...