Dorchester Minerals Reports Decline in Q3 2025 Earnings

Dorchester Minerals ( (DMLP) ) has released its Q3 earnings. Here is a breakdown of the information Dorchester Minerals presented to its investors.

Dorchester Minerals, L.P. is a publicly traded Delaware limited partnership that focuses on the acquisition, ownership, and administration of royalty properties, including mineral, royalty, overriding royalty, net profits, and leasehold interests across the United States. The company operates primarily in the oil and natural gas sector.

In its latest earnings report for the quarter ended September 30, 2025, Dorchester Minerals reported a decrease in net income to $11.2 million from $36.4 million in the same period of 2024. The company’s operating revenues also fell to $35.4 million, down from $53.5 million in the previous year, primarily due to lower royalty revenues and net profits interest.

Key financial metrics showed a decline in both oil and natural gas sales volumes, with a notable drop in oil sales volumes from the Royalty Properties. The average sales price for natural gas saw a significant increase, while oil prices experienced a decline. Operating costs rose slightly, driven by higher production taxes and post-production costs, while depreciation, depletion, and amortization expenses saw a substantial increase due to changes in reserve estimates.

Despite the challenges, Dorchester Minerals continues to pursue strategic acquisitions, as evidenced by its recent acquisition of mineral interests in Adams County, Colorado, valued at $23 million. The company remains focused on managing its portfolio and optimizing its operations to navigate the volatile market conditions.

Looking ahead, Dorchester Minerals’ management remains cautiously optimistic, acknowledging the uncertainties in the oil and natural gas markets due to geopolitical tensions and economic factors. The company aims to maintain its distribution policy while monitoring market conditions to ensure sustainable growth and shareholder value.