$DMLP
DORCHESTER MINERALS, L.P.

2017 Form 10-K Financial Statement

#000143774918004162 Filed on March 08, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016
Revenue $57.29M $10.74M $37.56M
YoY Change 52.54% 45.33% 17.84%
Cost Of Revenue $4.640M $910.0K $3.090M
YoY Change 50.16% -7.14% -13.69%
Gross Profit $52.66M $9.830M $34.46M
YoY Change 52.81% 53.12% 21.81%
Gross Profit Margin 91.92% 91.53% 91.75%
Selling, General & Admin $4.930M $1.020M $4.990M
YoY Change -1.2% -31.08% 0.4%
% of Gross Profit 9.36% 10.38% 14.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.302M $1.940M $8.507M
YoY Change 9.35% -80.73% -15.5%
% of Gross Profit 17.66% 19.74% 24.69%
Operating Expenses $2.460M $2.960M $1.733M
YoY Change 41.95% -19.78% -88.48%
Operating Profit $50.20M $6.870M $20.97M
YoY Change 139.42% 151.65% 58.27%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $38.42M $6.870M $20.97M
YoY Change 83.21% 151.65% 58.14%
Income Tax
% Of Pretax Income
Net Earnings $38.42M $6.870M $20.97M
YoY Change 83.26% 151.65% 58.18%
Net Earnings / Revenue 67.07% 63.97% 55.83%
Basic Earnings Per Share
Diluted Earnings Per Share $1.220M $223.9K $683.5K
COMMON SHARES
Basic Shares Outstanding 30.68M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.80M $8.200M $8.200M
YoY Change 68.29% 15.49% 15.49%
Cash & Equivalents $13.80M $8.212M $8.200M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $6.200M $6.600M $4.300M
Other Receivables $5.300M $0.00 $2.300M
Total Short-Term Assets $25.40M $14.79M $14.80M
YoY Change 71.62% 15.71% 15.63%
LONG-TERM ASSETS
Property, Plant & Equipment $66.70M $52.40M $52.40M
YoY Change 27.29% -13.96% -13.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.00K $0.00
YoY Change 0.0%
Total Long-Term Assets $66.60M $52.42M $52.40M
YoY Change 27.1% -13.99% -13.96%
TOTAL ASSETS
Total Short-Term Assets $25.40M $14.79M $14.80M
Total Long-Term Assets $66.60M $52.42M $52.40M
Total Assets $92.00M $67.21M $67.20M
YoY Change 36.9% -8.84% -8.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $600.0K $300.0K $300.0K
YoY Change 100.0% -40.0% -40.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $600.0K $275.0K $300.0K
YoY Change 100.0% -48.6% -40.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $700.0K $0.00 $0.00
YoY Change
Total Long-Term Liabilities $700.0K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $600.0K $275.0K $300.0K
Total Long-Term Liabilities $700.0K $0.00 $0.00
Total Liabilities $1.300M $275.0K $300.0K
YoY Change 333.33% -50.72% -50.0%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $90.70M $66.90M $66.90M
YoY Change
Total Liabilities & Shareholders Equity $92.00M $67.21M $67.20M
YoY Change 36.9% -8.84% -8.82%

Cashflow Statement

Concept 2017 2016 Q4 2016
OPERATING ACTIVITIES
Net Income $38.42M $6.870M $20.97M
YoY Change 83.26% 151.65% 58.18%
Depreciation, Depletion And Amortization $9.302M $1.940M $8.507M
YoY Change 9.35% -80.73% -15.5%
Cash From Operating Activities $44.03M $6.720M $28.28M
YoY Change 55.7% 28.98% 2.12%
INVESTING ACTIVITIES
Capital Expenditures -$1.060M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $440.0K $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$616.0K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -37.80M -8.000M -27.20M
YoY Change 38.97% 29.03% -25.7%
NET CHANGE
Cash From Operating Activities 44.03M 6.720M 28.28M
Cash From Investing Activities -616.0K 0.000
Cash From Financing Activities -37.80M -8.000M -27.20M
Net Change In Cash 43.41M -1.280M 28.28M
YoY Change 53.52% 29.29% 1.6%
FREE CASH FLOW
Cash From Operating Activities $44.03M $6.720M $28.28M
Capital Expenditures -$1.060M
Free Cash Flow $45.09M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017 dmlp Future Net Revenues To Proved Oil And Natural Gas Reserves Discount Percentage
FutureNetRevenuesToProvedOilAndNaturalGasReservesDiscountPercentage
0.1
CY2017 dmlp Gain Loss Recognition Upon Disposition Of Oil And Gas Minimum Percent Of Reserves
GainLossRecognitionUponDispositionOfOilAndGasMinimumPercentOfReserves
0.25
CY2017 dmlp General And Administrative Reimbursement Maximum Percentage
GeneralAndAdministrativeReimbursementMaximumPercentage
0.05
CY2016 dmlp General And Administrative Reimbursement Maximum Percentage
GeneralAndAdministrativeReimbursementMaximumPercentage
0.05
CY2015 dmlp General And Administrative Reimbursement Maximum Percentage
GeneralAndAdministrativeReimbursementMaximumPercentage
0.05
CY2017 dmlp Generaland Administrative Reimbursements
GeneralandAdministrativeReimbursements
2663000
CY2016 dmlp Generaland Administrative Reimbursements
GeneralandAdministrativeReimbursements
2673000
CY2015 dmlp Generaland Administrative Reimbursements
GeneralandAdministrativeReimbursements
3466000
CY2017 dmlp Lease Bonus
LeaseBonus
2399000
CY2016 dmlp Lease Bonus
LeaseBonus
2721000
CY2015 dmlp Lease Bonus
LeaseBonus
53000
CY2017 dmlp Proceeds From Sale Of Net Profit Interest Reserves
ProceedsFromSaleOfNetProfitInterestReserves
CY2016 dmlp Proceeds From Sale Of Net Profit Interest Reserves
ProceedsFromSaleOfNetProfitInterestReserves
CY2015 dmlp Proceeds From Sale Of Net Profit Interest Reserves
ProceedsFromSaleOfNetProfitInterestReserves
140000
CY2017 dmlp Recognition Of Deferred Rent Incentive
RecognitionOfDeferredRentIncentive
23000
CY2016 dmlp Recognition Of Deferred Rent Incentive
RecognitionOfDeferredRentIncentive
54000
CY2015 dmlp Recognition Of Deferred Rent Incentive
RecognitionOfDeferredRentIncentive
46000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8212000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7136000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15912000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13827000
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5615000
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1076000
CY2017Q2 dmlp Tenant Improvement Allowance
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702000
CY2017 dmlp Texas Franchise Tax Rate
TexasFranchiseTaxRate
0.0075
CY2017Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
599000
CY2016Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
252000
CY2017Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
6198000
CY2016Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
4351000
CY2017Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
5330000
CY2016Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
2225000
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2017Q4 us-gaap Assets
Assets
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CY2016Q4 us-gaap Assets
Assets
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CY2017Q4 us-gaap Assets Current
AssetsCurrent
25355000
CY2016Q4 us-gaap Assets Current
AssetsCurrent
14788000
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8776000
CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:3.6pt;margin-top:0pt;text-align:left;text-indent:18pt;"><div style="display: inline; font-style: italic;">Concentration of Credit Risks<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&#x2014;</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Our<div style="display: inline; font-style: italic;"> </div>Partnership, as a royalty and NPI owner, has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> control over the volumes or method of sale of oil and natural gas produced and sold from the Royalty Properties and NPIs. It is believed that the loss of any single customer would <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a material adverse effect on the consolidated results of our operations.</div></div></div></div></div></div></div></div></div></div></div></div></div></div>
CY2017 us-gaap Cost Of Goods Sold Oil And Gas
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2460000
CY2016 us-gaap Cost Of Goods Sold Oil And Gas
CostOfGoodsSoldOilAndGas
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CY2015 us-gaap Cost Of Goods Sold Oil And Gas
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CY2017 us-gaap Costs And Expenses
CostsAndExpenses
18867000
CY2016 us-gaap Costs And Expenses
CostsAndExpenses
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CY2017Q4 us-gaap Deferred Rent Credit Current
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38000
CY2016Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
23000
CY2017Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
664000
CY2016Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9302000
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8507000
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2017 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; min-width: 700px;" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="width: 18pt;">&nbsp;</td> <td style="width: 18pt; vertical-align: top;"> <div style=" text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.</div></div></div> </td> <td style="vertical-align: top;"> <div style=" text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">New Accounting Pronouncements</div></div> </td> </tr> </table> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt 14.4pt 0pt 0pt; text-align: left; text-indent: 18pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">In <div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"> May 2014, </div>the <div style="display: inline; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> Revenue from Contracts with Customers (ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div>), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP.</div><div style="display: inline; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </div><div style="display: inline; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The guidance requires entities to recognize revenue using the following <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-step model: identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue as the entity satisfies each performance obligation. Adoption of this standard could result in retrospective application, either in the form of recasting all prior periods presented or a cumulative adjustment to equity in the period of adoption. The guidance is effective for annual and interim reporting periods beginning after <div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"> December 15, 2017.</div></div></div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt; text-align: left; text-indent: 18pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2018 </div>we adopted using the full retrospective method. The Partnership completed its review of a representative sample of revenue contracts covering its material revenue streams and determined that there will be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact to its consolidated financial statements, results of operations or liquidity. When comparing the Partnership<div style="display: inline; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#x2019;s current revenue recognition to the new applied revenue recognition under Accounting Standards Codification (ASC) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606,</div> there will be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> changes to the amount or timing of revenue being recognized. Therefore <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> quantitative adjustment will be required to be made to the prior periods presented on the financial statements after the</div><div style="display: inline; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </div><div style="display: inline; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">adoption of ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606.</div> Upon adoption the Partnership has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> altered its existing information technology and internal controls outside of the contract review processes in order to identify impacts of future revenue contracts the Partnership <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>enter into. The Partnership does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> anticipate the disclosure requirements under the Accounting Standards Update to have a material change on presentation of revenue streams as compared to our existing U.S. GAAP.</div></div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt 14.4pt 0pt 0pt; text-align: left; text-indent: 18pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">In <div style="display: inline; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"> February 2016, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02,</div> which requires lessees to record most leases on the balance sheet. Under the new guidance, lease classification as either a finance lease or an operating lease will determine how lease-related revenue and expense are recognized. The guidance is effective for fiscal years beginning after <div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"> December 15, 2018, </div>including interim periods within those fiscal years. The Partnership currently has lease commitments of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3</div> million that we believe <div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"> may </div>be subject to capitalization under ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02.</div> The lease obligations that will be in place upon adaption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> <div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"> may </div>be significantly different than current obligations. We are still evaluating the impact of this on our consolidated financial statements.</div></div></div>
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DistributionMadeToLimitedPartnerCashDistributionsPaid
37797000
CY2016 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
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27202000
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CY2017Q3 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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CY2016Q3 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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CY2015Q3 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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CY2017Q4 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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0.386915
CY2016Q4 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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0.241475
CY2015Q4 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
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us-gaap Distribution Made To Limited Partner Unit Distribution
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CY2017Q2 us-gaap Distribution Made To Limited Partner Unit Distribution
DistributionMadeToLimitedPartnerUnitDistribution
32279774
CY2017 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.18
CY2016 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.66
CY2015 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.42
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4930000
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4990000
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4967000
CY2017Q4 us-gaap General Partners Capital Account
GeneralPartnersCapitalAccount
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CY2016Q4 us-gaap General Partners Capital Account
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CY2017 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2016 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2015 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2017 us-gaap Incentive Distribution Policy Managing Member Or General Partner Description
IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:3.6pt;margin-top:0pt;text-align:left;text-indent:18pt;"><div style="display: inline; font-style: italic;">General Partner<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&#x2014;</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Our<div style="display: inline; font-style: italic;"> </div>general partner is Dorchester Minerals Management LP, referred to in these Notes as &#x201c;our general partner.&#x201d; Our general partner owns all of the partnership interests in Dorchester Minerals Operating LP, the operating partnership. See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> <div style="display: inline; font-style: italic;">&#x2014;</div>Related Party Transactions. The general partner is allocated <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4%</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1%</div> of our Royalty Properties&#x2019; net revenues and Net Profits Interest (or &#x201c;NPI&#x201d;) net proceeds actually received by the operating partnership, respectively.</div></div></div></div></div></div></div></div></div></div></div></div></div></div>
CY2017Q4 us-gaap Incentive From Lessor
IncentiveFromLessor
702000
CY2017 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
1727000
CY2016 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
1693000
CY2015 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-2122000
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
455000
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-252000
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-571000
CY2017 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
702000
CY2016 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
23000
CY2015 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
77000
CY2017 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
3105000
CY2016 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-780000
CY2015 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-2787000
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
385000
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
272000
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
231000
CY2017Q4 us-gaap Liabilities
Liabilities
1301000
CY2016Q4 us-gaap Liabilities
Liabilities
275000
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
92047000
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
67211000
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
637000
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
275000
CY2017Q4 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
88964000
CY2016Q4 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
65127000
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-616000
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
140000
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
44028000
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
28278000
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
27692000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
38424000
CY2016 us-gaap Net Income Loss
NetIncomeLoss
20967000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
13255000
CY2017 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
1341000
CY2016 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
736000
CY2015 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
513000
CY2017 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
37083000
CY2016 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
20231000
CY2015 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
12742000
CY2017Q4 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
574
CY2017Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
25
CY2017Q4 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
297442000
CY2016Q4 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
288163000
CY2017Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
363186000
CY2016Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
340563000
CY2017Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
65744000
CY2016Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
52400000
CY2017 us-gaap Oil And Gas Revenue
OilAndGasRevenue
57291000
CY2016 us-gaap Oil And Gas Revenue
OilAndGasRevenue
37557000
CY2015 us-gaap Oil And Gas Revenue
OilAndGasRevenue
31870000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
3424000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
136000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
319000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
313000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
307000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
252000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
2097000
CY2017 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
753000
CY2016 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
262000
CY2015 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
168000
CY2017 us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
23183000
CY2016 us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
CY2015 us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
CY2017Q4 us-gaap Partners Capital
PartnersCapital
90746000
CY2016Q4 us-gaap Partners Capital
PartnersCapital
66936000
CY2014Q4 us-gaap Partners Capital
PartnersCapital
96524000
CY2015Q4 us-gaap Partners Capital
PartnersCapital
73171000
CY2017 us-gaap Partners Capital Account Acquisitions
PartnersCapitalAccountAcquisitions
23183000
CY2015 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
36608000
CY2016 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
27202000
CY2017 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
37797000
CY2017 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
1056000
CY2016 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
CY2015 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
CY2017 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
440000
CY2016 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
CY2015 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
CY2017 us-gaap Production Tax Expense
ProductionTaxExpense
2175000
CY2016 us-gaap Production Tax Expense
ProductionTaxExpense
1360000
CY2015 us-gaap Production Tax Expense
ProductionTaxExpense
1336000
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:18pt;"><div style="display: inline; font-style: italic;">Estimates</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;"> </div><div style="display: inline; font-style: italic;">&#x2014;</div><div style="display: inline; font-style: italic;"> </div>The<div style="display: inline; font-style: italic;"> </div>preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. For example, estimates of uncollected revenues and unpaid expenses from royalties and net profits interests in properties operated by non-affiliated entities are particularly subjective due to our inability to gain timely information. Therefore, actual results could differ from those estimates. </div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:3.6pt;margin-top:0pt;text-align:left;text-indent:18pt;">The discounted present value of our proved <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">oil and natural gas reserves is a major component of the ceiling test calculation and requires many subjective judgments. Estimates of reserves are forecasts based on engineering and geological analyses. Different reserve engineers could reach different conclusions as to estimated quantities of oil and natural gas reserves based on the same information. The passage of time provides more qualitative and quantitative information regarding reserve estimates, and revisions are made to prior estimates based on updated information. However, there can be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> assurance that more significant revisions will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be necessary in the future. Significant downward revisions could result in an impairment representing a non-cash charge to income. In addition to the impact on the calculation of the ceiling test, estimates of proved reserves are also a major component of the calculation of depletion. See the discussion under <div style="display: inline; font-style: italic;">Oil and Natural Gas Properties</div>.</div></div></div></div></div></div></div></div></div></div></div></div></div></div>
CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31488000
CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30675000
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30675000

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