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dmlp20201105_8k.htm
false 0001172358 0001172358 2020-11-05 2020-11-05
 
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
 
Date of Report (Date of earliest event reported): November 5, 2020
 
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 principal executive offices) (Zip Code)
 
Registrant’s telephone number, including area code:  (214) 559-0300
 
N/A
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Common Units Representing Limited Partnership Interest
 
DMLP
 
NASDAQ Global Select Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
 
                                                  Emerging growth company     ☐                        
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
1
 
 
Item 2.02                 Results of Operations and Financial Condition
 
The Registrant is furnishing its press release dated November 5, 2020 which announces the Registrant's results for the quarter ended September 30, 2020.  The press release is attached hereto as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.
 
Item 7.01
And 9.01                 Regulation FD Disclosure and Financial Statements and Exhibits
 
 
(c)
Exhibits
   
 
 
99.1
   
 
   
See Item 2.02. Results of Operations and Financial Condition.
     
  104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
Limitation on Incorporation by Reference
 
In accordance with general instructions B.2 and B.6 of Form 8-K, the information disclosed in this report under Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended.
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
DORCHESTER MINERALS, L.P.
Registrant
 
by  Dorchester Minerals Management LP
its General Partner,
by  Dorchester Minerals Management GP LLC
its General Partner
 
 
 
Date: November 5, 2020
 
By: /s/  William Casey McManemin
             William Casey McManemin
             Chief Executive Officer
 
2
ex_212189.htm

Exhibit 99.1

NEWS RELEASE

Dorchester Minerals, L.P.

 

Release Date:

November 5, 2020

3838 Oak Lawn Ave., Suite 300
   

Dallas, Texas 75219-4541

Contact:

Martye Miller

(214) 559-0300

 

 

Dorchester Minerals, L.P. Announces Third Quarter Results

 

DALLAS, TEXAS -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended September 30, 2020 of $5,619,000, or $0.16 per common unit.

 

A comparison of the Partnership’s consolidated results for the quarter ended September 30, 2020 and 2019 are set forth below:

 

   

Three Months Ended

    

Nine Months Ended

  
   

September 30,

    

September 30,

  
   

2020

    

2019

    

2020

    

2019

  

Operating Revenues

   $ 12,545,000     $ 19,569,000     $ 34,816,000     $ 59,200,000  

Net Income

   $ 5,619,000     $ 12,867,000     $ 15,572,000     $ 40,442,000  

Net Income Per Common Unit

   $ 0.16     $ 0.35     $ 0.43     $ 1.15  

 

 

The Partnership previously declared its third quarter distribution in the amount of $0.325612 per common unit payable on November 12, 2020 to common unit holders of record as of November 2, 2020. The Partnership’s cash distributions are not comparable to its net earnings due to timing and other differences including depletion.

 

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 27 states. Its common units trade on the NASDAQ Global Select Market under the symbol DMLP.

 

FORWARD-LOOKING STATEMENTS

 

Portions of this document may constitute "forward-looking statements" as defined by federal 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.