Dorchester Minerals, L.P. Announces Its Second Quarter Distribution
DALLAS, TX, Jul 14 (MARKET WIRE) --
Dorchester Minerals, L.P. (NASDAQ: DMLP) announced today the
Partnership's second quarter 2009 cash distribution. The distribution of
$0.271354 per common unit represents activity for the three-month period
ended June 30, 2009 and is payable on August 3, 2009 to common
unitholders of record as of July 24, 2009.
Cash receipts attributable to the Partnership's Net Profits Interests in
pay status during the second quarter totaled approximately $1.5 million.
These receipts reflect oil and gas sales from the properties underlying
the Net Profits Interests generally during February through April 2009.
Approximately $1.5 million of gross capital expenditures, primarily
attributable to drilling and completion activity, was re-invested by the
owner of the working interests in the properties underlying all the Net
Profits Interests during March through May 2009. Cash receipts
attributable to the Partnership's Royalty Properties during the second
quarter totaled approximately $7.0 million. These receipts generally
reflect oil sales during March through May 2009 and gas sales during
February through April 2009.
The Partnership received approximately $249,000 of other cash receipts
during the second quarter and identified 106 new wells on the
Partnership's Net Profits Interests and Royalty Properties located in 46
counties and parishes in 11 states. Today's announced distribution
includes second quarter cash receipts attributable to the recently
acquired Barnett Shale properties and reflects the units issued to the
sellers at closing, resulting in 29,840,471 total common units
outstanding at June 30, 2009.
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
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