(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.
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