Dorchester Minerals, L.P. reported significant financial growth in its latest quarterly filing, with total operating revenues reaching $56.1 million for the three months ended June 30, 2026, compared to $32.4 million for the same period in 2025, marking a 73% increase. For the first half of 2026, revenues totaled $115 million, up from $75.6 million in the prior year, reflecting a 52% increase. The partnership's net income also saw substantial growth, rising to $30.9 million in the second quarter of 2026 from $12.3 million in the same quarter of 2025, and $60 million for the first half of 2026, compared to $30 million in the previous year.
The financial performance was bolstered by increased oil and natural gas sales volumes, particularly from the partnership's Royalty Properties and Net Profits Interest (NPI) properties. Oil sales volumes from Royalty Properties increased by 44% in the second quarter year-over-year, while NPI oil sales volumes rose by 4%. However, average sales prices for natural gas saw a significant decline, with Royalty Properties natural gas prices dropping 86% in the second quarter compared to the previous year, which impacted overall revenue despite the increase in sales volumes.
Strategically, Dorchester Minerals made notable acquisitions, including mineral and royalty interests totaling approximately 3,100 net royalty acres in North Dakota for $23.1 million in July 2026. This acquisition was part of a non-taxable contribution and exchange agreement and is expected to enhance the partnership's asset base. The partnership also reported a legal settlement that contributed $15.5 million to its cash receipts, further supporting its financial position.
Operationally, Dorchester Minerals maintained a steady employee headcount of 48,256 common units issued and outstanding as of June 30, 2026. The partnership's total assets increased to $314 million, up from $309.6 million at the end of 2025, while total liabilities rose to $10.3 million from $4.3 million, reflecting increased operational activity and strategic investments. The partnership's cash and cash equivalents also improved significantly, reaching $72.5 million compared to $41.9 million at the end of 2025.
Looking ahead, Dorchester Minerals expressed cautious optimism regarding its future performance, acknowledging potential risks from fluctuating oil and natural gas prices, geopolitical tensions, and economic conditions. The partnership emphasized its commitment to monitoring market dynamics and adjusting its strategies accordingly to sustain growth and profitability. The next cash distribution to unitholders is scheduled for August 13, 2026, reflecting the partnership's ongoing commitment to returning value to its investors.
About DORCHESTER MINERALS, L.P.
Dorchester Minerals, L.P. is a publicly traded partnership that owns and manages oil and natural gas royalty and mineral interests across multiple U.S. states. It generates revenue primarily from royalty payments and net profits interests, focusing on acquiring, developing, and overseeing producing properties. The company emphasizes conservative capital management, asset protection, and strategic acquisitions to provide unitholders with attractive yields from its diversified energy assets.
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