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DALLAS, June 30, 2017 -- Dorchester Minerals, L.P. (“DMLP” or the “Partnership”) (NASDAQ:DMLP) today consummated the acquisition of producing and nonproducing mineral, royalty and overriding royalty interests located in six counties in Texas from multiple parties. The properties consist of 1,850 net royalty acres across 22,400 gross surface acres in Glasscock, Howard, Martin, Midland, Reagan and Upton Counties, Texas. Approximately 75% of the total net royalty acres are located in the northwestern quarter of Reagan County and substantially overlap with the Partnership’s existing position.
The transaction is structured as a non-taxable contribution and exchange. The contributing entities conveyed their interests to DMLP in exchange for 1,604,343 common limited partnership units.
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 press release may constitute "forward-looking statements" as defined by federal securities 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: Casey McManemin 3838 Oak Lawn Ave., Suite 300 Dallas, Texas 75219-4541 (214) 559-0300
