DALLAS, Feb. 22, 2024 (GLOBE NEWSWIRE) -- 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 ...

Date of Report (Date of earliest event reported): February 22, 2024 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 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 pr ...

Acquisitions - The partnership acquired approximately 3,600 net royalty acres across 13 counties for 570,000 common units on March 31, 2022[14]. - On September 30, 2022, the partnership acquired approximately 2,100 net royalty acres in Texas and New Mexico for 816,719 common units[15]. - The partnership acquired approximately 900 net royalty acres across Louisiana, New Mexico, and Texas for 343,750 common units on July 12, 2023[16]. - On August 31, 2023, the partnership acquired approximately 568 net royalty acres in Texas for 374,000 common units[17]. - The partnership acquired approximately 716 net royalty acres in Texas for 494,000 common units on September 29, 2023[18]. Revenue and Financial Performance - The partnership receives monthly payments equaling 96.97% of the net profits realized by the Operating Partnership from its properties[20]. - Royalty revenues from properties operated by Pioneer Natural Resources Company represented approximately 11% of total operating revenues for the year ended December 31, 2023[32]. - Cash distributions are highly dependent on oil and natural gas prices, which have historically been volatile, affecting revenues and operating income[48][49]. - The company’s net income may differ significantly from cash flow available for distributions due to timing differences in revenue recognition[122]. - The company anticipates receiving additional first payments for new wells attributable to acquisitions closed during 2023 in the first half of 2024[206]. Capital Structure and Governance - The partnership maintains a conservative capital structure and prohibits leverage, aiding in operations during challenging market conditions[20]. - The partnership has effective registration statements for 20,000,000 common units, with 15,096,531 units remaining available for issuance[24]. - The partnership's primary business objective is to provide an attractive yield to unitholders by strategically managing assets and protecting the balance sheet[19]. - Unitholders have limited voting rights and cannot easily remove the General Partner, which may affect governance and control[123]. - The company may issue additional securities, which could dilute unitholders' interests and affect market prices[129]. Operational Risks - The company does not control operations of the Royalty Properties, which could impact cash distributions[50]. - The occurrence of operational risks could materially impact the financial condition and results of operations[42][43]. - The company bears 96.97% of the costs associated with working interest properties, which could lead to no payments under the NPIs if costs exceed revenues[84]. - Future drilling activities may not yield commercially productive oil or natural gas reservoirs, and unsuccessful drilling could reduce future operational results and financial condition[73]. - The ability to increase reserves through future acquisitions is limited by restrictions on the use of operating cash and partnership interests[61]. Market and Economic Conditions - Price volatility in oil and natural gas markets has historically impacted cash distributions, with significant declines in prices observed during events like the COVID-19 pandemic[89]. - Inflationary pressures since 2021 have increased costs for goods, services, and labor, potentially delaying exploration and development activities[92]. - International economic instability caused by global conflicts may disrupt the oil and gas industry and lead to significant volatility in commodity prices[172]. - The ongoing COVID-19 pandemic and its variants may continue to adversely affect the demand for hydrocarbons and the company's revenues[171]. Regulatory and Environmental Risks - Environmental regulations and liabilities pose risks that could affect cash flow, with potential increases in production costs due to compliance requirements[93]. - The company may be subject to strict, joint and several liabilities under CERCLA for costs related to hazardous substance releases, despite not being an operator[95]. - The Clean Water Act imposes strict controls on pollutant discharges, and recent legal changes may increase costs and delays in obtaining necessary permits for development activities[99]. - States like Texas and Oklahoma are considering more stringent regulations on hydraulic fracturing, which could significantly increase compliance costs and delay exploration activities[108]. - The EPA's new emission reduction requirements for the oil and natural gas industry, announced on December 2, 2023, will require increased monitoring and impose new requirements for pneumatic controllers and tank batteries[97]. Workforce and Human Resources - The Operating Partnership had 27 full-time employees as of February 22, 2024, emphasizing the importance of workforce as a key asset[44]. - The workforce compensation and benefit programs include cash and equity bonuses, a SEP IRA pension plan, and insurance plans[44]. - The company is committed to diversity and inclusion in hiring practices, promoting a culture that values varied backgrounds[47]. - The company is dependent on key personnel, and the loss of any key personnel could adversely affect operations[135]. - The company has not obtained insurance or employment agreements with key personnel, which may pose risks to its operations[135]. Tax and Financial Liabilities - The company has not requested rulings from the IRS regarding tax matters, which may lead to potential tax liabilities for unitholders[139]. - If classified as a corporation for federal income tax purposes, the company would face a maximum corporate tax rate of 21%, significantly reducing cash available for distribution[142]. - Changes in federal income tax laws could negatively impact the value of investments in the company's common units[145]. - The IRS could challenge the company's method of allocating tax items, potentially leading to increased taxable income for unitholders[149]. - The ratio of taxable income allocated to unitholders versus cash distributed is uncertain, which may affect unitholders' tax liabilities[162]. Cybersecurity and Risk Management - The company has implemented a comprehensive cybersecurity risk management process to protect its information systems[179]. - The Advisory Committee of the Board of Managers oversees risks related to cybersecurity threats and compliance with disclosure requirements[183]. - The company recognizes the importance of managing material risks associated with cybersecurity threats as part of its broader risk management process[178]. Property and Reserves - The company owns Royalty Properties representing interests in 593 counties and parishes across 28 states[188]. - As of December 31, 2023, the company has a significant number of net mineral acres that are unleased[189]. - The company operates in 12 states with mineral interests, 5 states with royalty interests, and 5 states with leasehold interests[199]. - The company reported proved developed producing reserves of 8,318 mbbls of oil and 33,351 mmcf of natural gas as of December 31, 2023[210]. - The productive well summary indicates a total of 1,283 gross wells, with 38 net wells as of December 31, 2023[203].

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]