(Source: Shutterstock.com)
Dorchester Minerals LP closed an acquisition of mineral and royalty interests located in 13 counties and parishes in Louisiana, New Mexico and Texas, the company said in a July 12 news release.
The Dallas company said it purchased approximately 900 net (17,000 gross) royalty acres. The transaction was structured as a non-taxable contribution and exchange. The contributing entities conveyed their interests to Dorchester Minerals in exchange for 343,750 common limited partnership units of Dorchester Minerals LP. Based Dorchester’s unit price, the acquisition has a value of roughly $10.3 million.
Dorchester Minerals holds producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits and leasehold interests in 28 states. Its common units trade on the NASDAQ Global Select Market under the symbol DMLP.
Recommended Reading
Halliburton Sees NAM Activity Rebound in ‘25 After M&A Dust Settles
2024-07-19 - Halliburton said a softer North American market was affected by E&Ps integrating assets from recent M&A as the company continues to see international markets boosting the company’s bottom line.
Offshore, Middle East Buoys SLB’s 2Q as US Land Revenue Falls
2024-07-19 - Driven by a strong offshore market and bolstered by strategic acquisitions and digital innovation, SLB saw a robust second quarter offset by lower drilling revenue in the U.S.
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.
Liberty Energy Warns of ‘Softer’ E&P Activity to Finish 2024
2024-07-18 - Service company Liberty Energy Inc. upped its EBITDA 12% quarter over quarter but sees signs of slowing drilling activity and completions in the second half of the year.
Bechtel Awarded $4.3B Contract for NextDecade’s Rio Grande Train 4
2024-08-06 - NextDecade’s Rio Grande LNG Train 4 agreed to pay Bechtel approximately $4.3 billion for the work under an engineering, procurement and construction contract.