Dorchester Minerals Adds to Position in $29 Million All-stock Deal

Dorchester Minerals LP recently added to its royalty acreage in a $29 million all-stock deal.

According to a release by the Dallas-based company on Nov. 23, Dorchester Minerals entered into a non-taxable contribution and exchange agreement with an unrelated third party to acquire mineral and royalty interests in exchange for roughly 1.6 million common limited partnership units. In a recent note, Enverus pegged the transaction value at about $29 million.

The acquisition is expected to close by year-end and represents approximately 4,600 net royalty acres located in 27 counties across New Mexico, Oklahoma, Texas and Wyoming.