Dorchester Minerals Reports Q2 2024 Assets

TL;DR

DMLP assets grew slightly to $40.1B by Q2 2024.

AI Summary

Dorchester Minerals, L.P. reported total assets of $40,088 million as of June 30, 2024, a slight increase from $39,583 million at the end of 2023. The company's financial statements for the second quarter of 2024 are detailed in this 10-Q filing. Key financial metrics and operational data are presented for the periods ending June 30, 2024, and December 31, 2023.

Why It Matters

This filing provides investors with the latest financial snapshot of Dorchester Minerals, L.P., crucial for understanding the company's asset base and financial health as of mid-2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments indicated.

Key Numbers

• $40.088B — Total Assets (As of June 30, 2024)
• $39.583B — Total Assets (As of December 31, 2023)

Key Players & Entities

• DORCHESTER MINERALS, L.P. (company) — Filer
• 20240630 (date) — Reporting period end date
• 20240801 (date) — Filing date
• $40,088 million (dollar_amount) — Total assets as of June 30, 2024
• $39,583 million (dollar_amount) — Total assets as of December 31, 2023

FAQ

Key Financial Figures

• $3.8 million — Bakken region, equaling cash on hand of $3.8 million. Commodity Price Risks The pricing o
• $17.0 million — interests in the Partnership valued at $17.0 million and issued pursuant to the Partnership'
• $4.4 million — capitalized transaction costs paid, of $4.4 million is included in net cash contributed in
• $20.4 million — interests in the Partnership valued at $20.4 million and issued pursuant to the Partnership'
• $0.5 million — capitalized transaction costs paid, of $0.5 million is included in net cash contributed in

Filing Documents

• dmlp20240630_10q.htm (10-Q) — 466KB
• ex_680611.htm (EX-31.1) — 12KB
• ex_680612.htm (EX-31.2) — 12KB
• ex_680613.htm (EX-32.1) — 6KB
• 0001437749-24-024292.txt ( ) — 1687KB
• dmlp-20240630.xsd (EX-101.SCH) — 17KB
• dmlp-20240630_cal.xml (EX-101.CAL) — 14KB
• dmlp-20240630_def.xml (EX-101.DEF) — 100KB
• dmlp-20240630_lab.xml (EX-101.LAB) — 106KB
• dmlp-20240630_pre.xml (EX-101.PRE) — 112KB
• dmlp20240630_10q_htm.xml (XML) — 117KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 ITEM 1.

FINANCIAL STATEMENTS (UNAUDITED)

FINANCIAL STATEMENTS (UNAUDITED) 1 CONDENSED CONSOLIDATED BALANCE SHEETS 2 CONDENSED CONSOLIDATED INCOME STATEMENTS 3 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERSHIP CAPITAL 4 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 5 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 6 ITEM 2. MANAGEMENT ' S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 8 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 12 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 12

– OTHER INFORMATION

PART II – OTHER INFORMATION 12 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 12 ITEM 1A.

RISK FACTORS

RISK FACTORS 12 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 12 ITEM 5. OTHER INFORMATION 12 ITEM 6. EXHIBITS 13

SIGNATURES

SIGNATURES 15 Table of Contents DORCHESTER MINERALS, L.P. (A Delaware Limited Partnership) DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS These forward-looking statements are made based upon management's current plans, expectations, estimates, assumptions and beliefs concerning future events impacting us and, therefore, involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements for a number of important reasons, including those discussed under "Item 1A – Risk Factors" in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Annual Report") and in this report, in the Partnership's other filings with the SEC and elsewhere in this report. Examples of such reasons include, but are not limited to, changes in the price or demand for oil and natural gas, public health crises including the worldwide coronavirus (COVID-19) outbreak beginning in early 2020 and its ongoing variants, the conflict in Ukraine, the conflict between Israel and Hamas, changes in the operations on or development of our properties, changes in economic and industry conditions and chan

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS See attached financial statements on the following pages. 1 Table of Contents DORCHESTER MINERALS, L.P. (A Delaware Limited Partnership) CONDENSED CONSOLIDATED BALANCE SHEETS (In Thousands) (Unaudited) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 35,161 $ 47,025 Trade and other receivables 16,325 14,407 Net profits interest receivable - related party 5,911 8,275 Total current assets 57,397 69,707 Oil and natural gas properties (full cost method) 519,010 507,057 Accumulated full cost depletion ( 401,479 ) ( 386,939 ) Total 117,531 120,118 Leasehold improvements 989 989 Accumulated amortization ( 560 ) ( 514 ) Total 429 475 Operating lease right-of-use asset 674 765 Total assets $ 176,031 $ 191,065 LIABILITIES AND PARTNERSHIP CAPITAL Current liabilities: Accounts payable and other current liabilities $ 4,310 $ 4,195 Operating lease liability 268 272 Total current liabilities 4,578 4,467 Operating lease liability 907 1,041 Total liabilities 5,485 5,508 Commitments and contingencies (Note 4) Partnership capital: General Partner ( 1,065 ) 113 Unitholders ( 40,088 and 39,583 common units issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) 171,611 185,444 Total partnership capital 170,546 185,557 Total liabilities and partnership capital $ 176,031 $ 191,065 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 Table of Contents DORCHESTER MINERALS, L.P. (A Delaware Limited Partnership) CONDENSED CONSOLIDATED INCOME STATEMENTS (In Thousands, except per unit amounts) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Operating revenues Royalties $ 31,636 $ 23,613 $ 56,513 $ 48,297 Net profits interest 5,244 5,830 10,842 20,777 Lease bonus and other 480 1,176 984 1,712 Total operati

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View this 10-Q filing on SEC EDGAR