Dorchester Minerals Finalises Acquisition of Texas, US Mineral/Royalty Producing Properties.
M2 EQUITYBITES-July 6, 2017-Dorchester Minerals Finalises Acquisition of Texas, US Mineral/Royalty Producing Properties
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6 July 2017 - Texas, US-based oil and gas company Dorchester Minerals, L.P. (DMLP) (NASDAQ: DMLP) has completed the acquisition of 1,850 net royalty acres located in six Texas, US counties, which contain producing and nonproducing mineral, royalty and overriding royalty interests, from multiple unnamed parties, the company said.
The transaction is structured as a non-taxable contribution and exchange. The contributing entities conveyed their interests to DMLP in exchange for 1,604,343 common limited partnership units.
Approximately 75% of the total net royalty acres are located in the northwestern quarter of Reagan County and substantially overlap with the Partnership's existing position.
Dorchester Minerals, L.P. is the owner of producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jul 6, 2017|
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