Dallas-based Dorchester Minerals has completed its acquisition of approximately 1,485 net royalty acres in two Colorado counties, the company said on March 28. The locations of the interests were not disclosed.

The contributing entities conveyed interests to Dorchester in exchange for 505,369 of the company’s common units. Based on Dorchester’s unit price of roughly $34, the deal was valued at about $17 million.

Dorchester said the transaction was structured as a non-taxable contribution and exchange.