DORCHESTER MINERALS, L.P.
Business
Dorchester Minerals, L.P. is a publicly traded Delaware limited partnership that owns mineral, royalty, overriding royalty, net profits, and leasehold interests in oil and natural gas properties across 28 states. The partnership receives monthly distributions from net profits interests and quarterly cash distributions from royalty properties, with no operational drilling or production activities. The company acquires additional mineral and royalty interests primarily through equity issuance in non-taxable exchanges and maintains a conservative capital structure with no debt.
Summary from 10-K filed 2026-02-24
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Operating revenues | 153 | 162 | 164 | 171 | 93 | |
| Production taxes | 6 | 7 | 6 | 7 | 4 | |
| Operating expenses | 10 | 8 | 6 | 6 | 4 | |
| Depreciation, depletion and amortization | 66 | 43 | 26 | 19 | 10 | |
| Total costs and expenses | 95 | 69 | 50 | 40 | 23 | |
| Net income | 57 | 92 | 114 | 131 | 70 | |
| General Partner | 2 | 3 | 4 | 4 | 2 | |
| Unitholders | 55 | 89 | 110 | 126 | 68 | |
| Net income per common unit (basic and diluted) (in dollars per share) | 1.16 | 2.13 | 2.85 | 3.35 | 1.94 | |
| Weighted average basic and diluted common units outstanding (in shares) | 48 | 42 | 39 | 38 | 35 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 42 | 43 | 47 | 41 | 28 | |
| Prepaid expenses and other current assets | 526,000 | 539,000 | — | — | — | |
| Total current assets | 59 | 68 | 70 | 62 | 47 | |
| Oil and natural gas properties (full cost method) | 746 | 727 | 507 | 473 | 440 | |
| Accumulated full cost depletion | −496 | −429 | −387 | −361 | −342 | |
| Total | 250 | 298 | 120 | 112 | 98 | |
| Operating lease right-of-use asset | 423,000 | 586,000 | 765,000 | 959,000 | 1 | |
| Total assets | 310 | 367 | 191 | 176 | 147 | |
| Accounts payable and other current liabilities | 4 | 4 | 4 | 3 | 3 | |
| Operating lease liability | 256,000 | 263,000 | 272,000 | 281,000 | 291,000 | |
| Total current liabilities | 4 | 4 | 4 | 3 | 3 | |
| Operating lease liability | 521,000 | 777,000 | 1 | 1 | 2 | |
| Total liabilities | 4 | 5 | 6 | 5 | 4 | |
| Commitments and contingencies (Note 5) | — | — | — | — | — | |
| General Partner | −5 | −2 | 113,000 | 676,000 | 982,000 | |
| Unitholders (48,256 and 47,340 common units issued and outstanding as of December 31, 2025 and 2024, respectively) | 310 | 364 | 185 | 171 | 141 | |
| Total partnership capital | 305 | 362 | 186 | 172 | 142 | |
| Total liabilities and partnership capital | 310 | 367 | 191 | 176 | 147 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Amortization of operating lease right-of-use asset | 163,000 | 179,000 | 194,000 | 209,000 | 224,000 | |
| Accounts receivable | 6 | −5 | −467,000 | — | — | |
| Net profits interest receivable - related party | 3 | 3 | −1 | −348,000 | −5 | |
| Prepaid expenses and other current assets | −13,000 | −133,000 | −25,000 | — | — | |
| Accounts payable and other current liabilities | −135,000 | −522,000 | 1 | 930,000 | 623,000 | |
| Operating lease liability | −263,000 | −273,000 | −281,000 | −291,000 | −300,000 | |
| Net cash provided by operating activities | 132 | 133 | 140 | 147 | 70 | |
| Net cash contributed in acquisitions of oil and natural gas properties | 4 | 15 | 2 | 2 | — | |
| Distributions paid to General Partner and unitholders | −137 | −152 | −136 | −137 | −56 | |
| (Decrease) Increase in cash and cash equivalents | −571,000 | −5 | 6 | 12 | 17 | |
| Fair value of common units issued for acquisitions of oil and natural gas properties | 23 | 236 | 36 | 35 | 43 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is DORCHESTER MINERALS, L.P.'s CIK number?
DORCHESTER MINERALS, L.P.'s SEC CIK number is 0001172358 (1172358). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find DORCHESTER MINERALS, L.P.'s SEC filings?
All of DORCHESTER MINERALS, L.P.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did DORCHESTER MINERALS, L.P. last report earnings?
DORCHESTER MINERALS, L.P. (DMLP) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437749-26-015228). This is DORCHESTER MINERALS, L.P.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is DORCHESTER MINERALS, L.P.'s most recent earnings 8-K?
DORCHESTER MINERALS, L.P.'s latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001437749-26-015228. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View DORCHESTER MINERALS, L.P.'s latest earnings 8-K →
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