Dorchester Minerals, L.P. Announces 2 Agreements To Acquire Mineral, Royalty And Overriding Royalty Interests; Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Dorchester Minerals, L.P. (NASDAQ-DMLP) announced agreements to acquire mineral, royalty, and overriding royalty interests in New Mexico and Texas, covering 14,529 net royalty acres. The acquisition involves a non-taxable contribution and exchange agreement, with closing expected on September 30, 2024.
September 16, 2024 | 12:42 pm
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Dorchester Minerals, L.P. is set to acquire significant mineral and royalty interests in New Mexico and Texas, enhancing its asset base. The acquisition involves a non-taxable exchange for common units, indicating potential growth in asset value.
The acquisition of 14,529 net royalty acres in key basins (Delaware and Midland) is likely to enhance DMLP's asset portfolio. The exchange for common units suggests a strategic move to increase value without immediate cash outflow, potentially boosting investor confidence and stock price.
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