Dorchester Minerals, L.P. Announces Its Second Quarter Distribution
Dorchester Minerals, L.P. (NASDAQ: DMLP)
announced today the Partnership's second quarter 2008 cash distribution.
The distribution of $0.769206 per common unit represents activity for the
three month period ended June 30, 2008 and is payable on August 1, 2008 to
common unitholders of record as of July 21, 2008.
Cash receipts attributable to the Partnership's Net Profits Interests
during the second quarter totaled $8,619,000. These receipts reflect oil
and gas sales from the properties underlying the Net Profits Interests
generally during February 2008 through April 2008. The second quarter 2008
also includes a cash receipt of $2,209,000 attributable to calendar year
2007 natural gas liquids. Approximately $1,093,000 of gross capital
expenditures, primarily attributable to drilling and completion activity,
was paid by the owner of the working interests in the properties underlying
the Net Profits Interests during March 2008 through May 2008. Cash receipts
attributable to the Partnership's Royalty Properties during the second
quarter totaled $14,842,000. These receipts generally reflect oil sales
during March 2008 through May 2008 and gas sales during February 2008
through April 2008.
The Partnership received approximately $268,000 of other cash receipts
during the second quarter and identified 122 new wells completed on the
Partnership's Net Profits Interests and Royalty Properties located in 49
counties and parishes in eight states.
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 25 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.
Contact:
Casey McManemin
(214) 559-0300