Dorchester Minerals acquires 14,225 net royalty acres for 6.7M units; historical revenue $26.4M

DORCHESTER MINERALS, L.P.

Acquired ~14,225 net royalty acres in 14 TX/NM counties; consideration 6,721,144 common units.
Acquired properties generated $26.4M royalty revenue and $23.8M net revenues in FY 2023.
For H1 2024: $13.9M revenue, $1.4M direct op ex, net $12.5M.
Proved reserves at year-end 2023: 3,053 Mbbl oil, 6,408 MMcf gas; PV-10 (pretax) $79.5M.
Pro forma financials filed; acquisition closed Sept 30, 2024.

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