View:
Download DOC
Download PDF
Download XLS
Download XBRL
dmlp20210723_8k.htm
false 0001172358 0001172358 2021-07-23 2021-07-23
 
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): July 23, 2021
 
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 July 23, 2021 which announces the Registrant's cash distribution for the quarter ended June 30, 2021.  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: July 23, 2021  
  By: /s/  William Casey McManemin
  William Casey McManemin
  Chief Executive Officer
 
 
ex_266974.htm

 

Exhibit 99.1

NEWS RELEASE

Dorchester Minerals, L.P.

 

Release Date:

July 23, 2021

3838 Oak Lawn Ave., Suite 300
   

Dallas, Texas 75219-4541

Contact:

Martye Miller

(214) 559-0300

 

 

 

Dorchester Minerals, L.P. Announces Its Second Quarter Distribution

 

DALLAS, TEXAS — Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership’s second quarter 2021 cash distribution. The distribution of $0.480528 per common unit represents activity for the three-month period ended June 30, 2021 and is payable on August 12, 2021 to common unitholders of record as of August 2, 2021.

 

Cash receipts attributable to the Partnership’s Royalty Properties during the second quarter totaled approximately $15.0 million. Approximately 82% of these receipts reflect oil sales during March 2021 through May 2021 and gas sales during February 2021 through April 2021, and approximately 18% from prior sales periods. Cash receipts attributable to the Partnership’s Net Profits Interests during the second quarter totaled approximately $3.4 million. Approximately 69% of these receipts reflect oil sales and gas sales during February 2021 through April 2021, and approximately 31% from prior sales periods.

 

Small, Quiet and Boring Outfit Distributes a Billion Dollars to Its Partners

 

Dorchester Minerals, L.P., the first publicly traded minerals and royalty partnership, will have distributed more than a billion dollars to its partners as of the August 12th distribution date. The Partnership achieved this milestone with no debt, no dilutive equity compensation, and no UBTI.

 

The Partnership is the result of the merger of Republic Royalty Company, Spinnaker Royalty Company and Dorchester Hugoton, Ltd. in January 2003. The founders of Republic, its predecessor SASI Minerals, and Spinnaker started acquiring minerals and royalties in 1986, and Vaughn Petroleum, Inc and its predecessors since the 1920’s. All of those assets were ultimately rolled up into Dorchester Minerals; several of the original founders continue to be engaged in the Partnership’s activities including General Partners and Board Members Pete Allen and Robie Vaughn, and CEO, Board Chairman and General Partner, Casey McManemin.

 

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 26 states. Its common units trade on the Nasdaq Global Select Market under the symbol DMLP.

 

This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Although a portion of Dorchester Minerals, L.P.’s income may not be effectively connected income and may be subject to alternative withholding procedures, brokers and nominees should treat 100% of Dorchester Minerals, L.P.’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Dorchester Minerals, L.P.’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate for individuals or corporations, as applicable. Nominees, and not Dorchester Minerals, L.P., are treated as withholding agents responsible for withholding on distributions received by them on behalf of non-U.S. investors.

 

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.