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): May 7, 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 May 7, 2020 which announces the Registrant's results for the quarter ended March 31, 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

Press Release dated May 7, 2020 announcing the Registrant's results for the quarter ended March 31, 2020. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

   
 

See Item 2.02. Results of Operations and Financial Condition.

 

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: May 7, 2020      

 

By:

/s/  William Casey McManemin

 

 

 

       William Casey McManemin

 

 

 

       Chief Executive Officer

 

 

 

Exhibit 99.1

NEWS RELEASE

Dorchester Minerals, L.P.

 

Release Date:

May 7, 2020

3838 Oak Lawn Ave., Suite 300

   

Dallas, Texas 75219-4541

Contact:

Martye Miller

(214) 559-0300

 


 

Dorchester Minerals, L.P. Announces First Quarter Results

 

DALLAS, TEXAS -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended March 31, 2020 of $8,761,000, or $0.25 per common unit.

 

A comparison of the Partnership’s consolidated results for the quarter ended March 31, 2020 and 2019 are set forth below:

 

   

Three Months Ended

 
   

March 31,

 
   

2020

   

2019

 

Operating Revenues

  $ 15,476,000     $ 19,031,000  

Net Income

  $ 8,761,000     $ 13,979,000  

Net Income Per Common Unit

  $ 0.25     $ 0.42  

 

The Partnership previously declared its first quarter distribution in the amount of $0.477891 per common unit payable on May 14, 2020 to common unit holders of record as of May 4, 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.