Dorchester Minerals: Reviewing Its Potential Results At Low-$60s Oil

2025-05-20 01:30:00 ET

Summary

• Dorchester's Q1 2025 distribution ended up at around $0.726 per unit.
• At low-$60s oil, I'd expect its quarterly distribution to average around $0.60 to $0.65 per unit.
• Longer-term, I expect $70 WTI oil, which would support more of an average of $0.75 per unit in quarterly distributions (with periodic larger lease bonus payments included).
• Dorchester's organic production growth may be flat to slightly declining in the current environment.

Dorchester Minerals ( DMLP ) declared a Q1 2025 distribution of roughly $0.726 per unit. This was approximately 2% less than its Q4 2024 distribution. Going forward, I expect flat to slightly declining organic production in the current oil pricing environment. Operators have generally indicated expectations for lower development activity later in 2025 and into 2026, which should help oil prices rebound later on....

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