Benzinga | Nov 23, 2021 04:09PM EST

Dorchester Minerals, L.P. Announces Acquisition Of Mineral And Royalty Interests; No Terms Disclosed

Dorchester Minerals, L.P. (the "Partnership") (NASDAQ-DMLP) announced today that it has entered into a non-taxable contribution and exchange agreement with an unrelated third party to acquire mineral and royalty interests representing approximately 4,600 net royalty acres located in 27 counties across New Mexico, Oklahoma, Texas and Wyoming. The contributing entity will convey its interests to the Partnership in exchange for 1,580,000 common limited partnership units of the Partnership. The acquisition is expected to close on December 31, 2021, subject to customary closing conditions, with a cash receipt reference date of October 1, 2021.

Dorchester Minerals, L.P. is a Dallas based owner of producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests located in 26 states. Its common units trade on the NASDAQ Global Select Market under the symbol DMLP.