(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.
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