(Source: Shutterstock.com)
Dorchester Minerals LP completed an acquisition of mineral and royalty interests totaling approximately 3,355 gross acres and 568 net royalty acres located in three Texas counties, the company said in an Aug. 31 press release.
The transaction is structured as a non-taxable contribution and exchange. The contributing entities involved in the transaction conveyed their interests to Dorchester in exchange for 374,000 common units representing limited partnership interests in Dorchester Minerals. The transaction, based on the company’s Aug. 30 share price, has a value of roughly $10 million.
Dorchester Minerals is a Dallas-based owner of producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits and leasehold interests in 28 states.
Recommended Reading
Occidental Petroleum Gears Up for Digital Transformation
2023-08-15 - The operator is working with Amazon Web Services to migrate to the cloud in order to reduce capex and gain access to software-defined technology.
Encino Announces Investment in SENSIA Solutions
2023-09-06 - Encino Environmental Holdings’ investment in SENSIA Solutions combines Encino’s energy knowledge with SENSIA’s AI solutions.
SLB Receives Petrobras Contract for Digital Platform Development
2023-07-06 - Petrobras has awarded SLB a contract to deploy its Delfi digital platform on an enterprise-level scale, which represents one of the largest investments the Brazilian E&P has made in cloud-based tech.
Trust Issues: Despite Potential, E&Ps Wary of Generative AI
2023-09-12 - The sooner companies start using generative AI, the sooner they’ll reap benefits, experts say. But some E&Ps worry proprietary data and methods will get passed to other customers.
SLB Signs Subsurface Technology Partnership Agreement with INEOS Energy
2023-09-06 - SLB’s Delfi digital platform will lower INEOS' carbon footprint.