Dorchester Minerals, L.P. has announced two significant agreements to acquire mineral, royalty, and overriding royalty interests. The first agreement, entered into on September 12, 2024, involves the acquisition of approximately 14,529 net royalty acres located in 14 counties across New Mexico and Texas. Notably, 65% of the acreage is situated in the Delaware Basin, with the remaining 35% in the Midland Basin. In exchange for these interests, the contributing entities will receive 6,721,144 common units representing limited partnership interests in Dorchester Minerals, L.P.
The second agreement, finalized on September 4, 2024, pertains to the acquisition of overriding royalty interests encompassing roughly 1,204 net royalty acres located in Weld County, Colorado. In return, the contributing entity will receive 530,000 common units representing limited partnership interests in Dorchester Minerals, L.P.
These acquisitions are expected to close on September 30, 2024, subject to customary closing conditions.
Dorchester Minerals, L.P. is a Dallas-based owner of producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests located in 28 states. Its common units trade on the NASDAQ Global Select Market under the symbol DMLP. Today the company's shares have moved 0.2% to a price of $29.92. For the full picture, make sure to review Dorchester Minerals, L.P.'s 8-K report.
