Dorchester Minerals (DMLP) announced that it has entered into an agreement to acquire mineral and royalty interests. On July 3, the partnership entered into a non-taxable contribution and exchange agreement with unrelated third parties to acquire mineral and royalty interests totaling approximately 3,100 net royalty acres located in five counties across the Williston Basin in North Dakota. Cash received by the contributing entities on or after April 1 will be contributed to the partnership at closing. The contributing entities will convey their interests to the partnership in exchange for 850,000 common units representing limited partnership interests in Dorchester Minerals as adjusted pursuant to the terms of the contribution and exchange agreement. The acquisition is expected to close on July 31, subject to customary closing conditions.
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