View Filing Data

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2020	Aug. 06, 2020
Document Information [Line Items]
Entity Central Index Key	0001172358
Entity Registrant Name	Dorchester Minerals, L.P.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	000-50175
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-0551518
Entity Address, Address Line One	3838 Oak Lawn Avenue, Suite 300
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75219
City Area Code	214
Local Phone Number	559-0300
Title of 12(b) Security	Common Units Representing Limited Partnership Interest
Trading Symbol	DMLP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,679,774

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 11,753	$ 15,339
Trade and other receivables	3,141	7,061
Net profits interests receivable - related party	317	5,882
Total current assets	15,211	28,282
Property and leasehold improvements - at cost:
Oil and natural gas properties (full cost method)	405,670	405,670
Accumulated full cost depletion	(325,795)	(319,544)
Total	79,875	86,126
Operating lease right-of-use asset	1,510	1,632
Total assets	97,393	116,883
Current liabilities:
Accounts payable and other current liabilities	2,764	2,052
Operating lease liability	305	310
Total current liabilities	3,069	2,362
Operating lease liability	2,033	2,185
Total liabilities	5,102	4,547
Commitments and contingencies (Note 3)
Partnership capital:
General Partner	629	1,228
Unitholders	91,662	111,108
Total partnership capital	92,291	112,336
Total liabilities and partnership capital	97,393	116,883
Leasehold Improvements [Member]
Property and leasehold improvements - at cost:
Leasehold improvements	989	989
Accumulated amortization	(192)	(146)
Total	$ 797	$ 843

Condensed Consolidated Income Statements (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net operating revenues:
Operating revenues	$ 6,795	$ 20,600	$ 22,271	$ 39,631
Costs and expenses:
Operating, including production taxes	1,350	1,789	2,790	3,401
Depreciation, depletion and amortization	2,940	3,930	6,297	6,237
General and administrative expenses	1,313	1,285	3,231	2,418
Total costs and expenses	5,603	7,004	12,318	12,056
Net income	1,192	13,596	9,953	27,575
Allocation of net income:
General partner	60	455	298	901
Unitholders	$ 1,132	$ 13,141	$ 9,655	$ 26,674
Net income per common unit (basic and diluted) (in dollars per share)	$ 0.03	$ 0.38	$ 0.28	$ 0.80
Weighted average basic and diluted common units outstanding (in shares)	34,680	34,680	34,680	33,480
Royalty [Member]
Net operating revenues:
Operating revenues	$ 6,505	$ 15,975	$ 16,455	$ 30,554
Net Profit Interests [Member]
Net operating revenues:
Operating revenues	278	3,885	5,446	8,264
Lease Bonus [Member]
Net operating revenues:
Operating revenues	6	419	269	422
Product and Service, Other [Member]
Net operating revenues:
Operating revenues	$ 6	$ 321	$ 101	$ 391

Condensed Consolidated Statements of Changes in Partnership Capital (Unaudited) - USD ($) shares in Thousands, $ in Thousands	General Partner [Member]	Limited Partner [Member]	Total
Balance at Dec. 31, 2018	$ 1,826	$ 84,821	$ 86,647
Balance (in shares) at Dec. 31, 2018		32,280
Net income	901	$ 26,674	27,575
Distributions	(1,116)	(33,401)	(34,517)
Acquisition of assets for units	0	$ 43,824	43,824
Acquisition of assets for units (in shares)		2,400
Balance at Jun. 30, 2019	1,611	$ 121,918	123,529
Balance (in shares) at Jun. 30, 2019		34,680
Balance at Mar. 31, 2019	1,709	$ 125,503	127,212
Balance (in shares) at Mar. 31, 2019		34,680
Net income	455	$ 13,141	13,596
Distributions	(553)	(16,726)	(17,279)
Balance at Jun. 30, 2019	1,611	$ 121,918	123,529
Balance (in shares) at Jun. 30, 2019		34,680
Balance at Dec. 31, 2019	1,228	$ 111,108	112,336
Balance (in shares) at Dec. 31, 2019		34,680
Net income	298	$ 9,655	9,953
Distributions	(897)	(29,101)	(29,998)
Balance at Jun. 30, 2020	629	$ 91,662	92,291
Balance (in shares) at Jun. 30, 2020		34,680
Balance at Mar. 31, 2020	1,041	$ 107,103	108,144
Balance (in shares) at Mar. 31, 2020		34,680
Net income	60	$ 1,132	1,192
Distributions	(472)	(16,573)	(17,045)
Balance at Jun. 30, 2020	$ 629	$ 91,662	$ 92,291
Balance (in shares) at Jun. 30, 2020		34,680

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Net cash provided by operating activities	$ 26,412	$ 35,300
Cash flows provided by investing activities:
Net cash contributed in acquisition	0	1,406
Proceeds from the sale of oil and natural gas properties	0	350
Total cash flows provided by investing activities	0	1,756
Cash flows used in financing activities:
Distributions paid to General Partner and unitholders	(29,998)	(34,517)
(Decrease) increase in cash and cash equivalents	(3,586)	2,539
Cash and cash equivalents at beginning of period	15,339	18,285
Cash and cash equivalents at end of period	11,753	20,824
Non-cash investing and financing activities:
Fair value of common units issued for acquisition	$ 0	$ 43,824

Note 1 - Basis of Presentation

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Basis of Presentation and Significant Accounting Policies [Text Block]

1.	Basis of Presentation

Dorchester Minerals, L.P. (the “Partnership”) is a publicly traded Delaware limited partnership that was formed in December 2001, and commenced operations on January 31, 2003. The unaudited condensed consolidated financial statements include the accounts of the Partnership and its wholly-owned subsidiaries Dorchester Minerals Oklahoma LP, Dorchester Minerals Oklahoma GP, Inc., Maecenas Minerals LLP, Dorchester-Maecenas GP LLC, The Buffalo Co., A Limited Partnership, and DMLPTBC GP LLC.

The accompanying unaudited condensed consolidated financial statements of the Partnership have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal and recurring adjustments unless indicated otherwise) that are, in the opinion of management, necessary for the fair presentation of our financial position and operating results for the interim period. Interim period results are not necessarily indicative of the results for the calendar year. For more information regarding limitations on the forward-looking statements contained herein, see page 1 of this Quarterly Report on Form 10-Q. Per unit information is calculated by dividing the income or loss applicable to holders of the Partnership’s common units by the weighted average number of units outstanding. The Partnership has no potentially dilutive securities and, consequently, basic and diluted income per unit do not differ. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership’s 2019 Annual Report on Form 10-K.

The accompanying unaudited condensed consolidated financial statements include the consolidated results of the Partnership. All significant intercompany balances and transactions have been eliminated in consolidation.

The preparation of financial statements in conformity with U.S. GAAP 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 financial statements and the reported amounts of revenues and expenses during the reporting period. For example, estimates of uncollected revenues and unpaid expenses from Royalty Properties (which are interests in oil and natural gas leases that give the Partnership the right to receive a portion of the production from the leased acreage, without bearing the costs of such production) and net profits overriding royalty interests (referred to as the Net Profits Interests, or “NPIs”) operated by non-affiliated entities are particularly subjective due to our inability to gain accurate and timely information. Therefore, actual results could differ from those estimates.

Recent Events – In January 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus (“COVID-19”) and the significant risks to the international community and economies as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified COVID-19 as a pandemic, based on the rapid increase in exposure globally, and throughout the second quarter of 2020 and thereafter, COVID-19 continued to spread throughout the U.S. In addition, after the Organization of the Petroleum Exporting Countries (“OPEC”) and a group of oil producing nations led by Russia failed in March 2020 to agree on oil production cuts, Saudi Arabia announced that it would cut oil prices and increase production, leading to a sharp further decline in oil and natural gas prices. While OPEC, Russia and other oil producing countries reached an agreement in April 2020 to reduce production levels, and U.S. production has declined, a significant crude oil price recovery is not expected until global supply matches current lower levels of demand caused by a number of factors, including the uncertainty around the extent and timing of an economic recovery due to the COVID-19 pandemic. The effects of COVID-19 and concerns regarding its domestic and global spread, as well as the recent actions by Russia and Saudi Arabia, could continue to negatively impact the domestic and international supply and demand for oil and natural gas, to sustain continued price volatility and impact the price paid for oil and natural gas and to materially and adversely affect the demand for and marketability of oil and natural gas production.

We are closely monitoring the current and potential impact of the COVID-19 pandemic and future OPEC actions on all aspects of our business, including how these events may impact our future operations, financial results, liquidity, employees and producers. The impact of the COVID-19 pandemic and the related economic downturn and the historically low oil and natural gas prices on the account of the oil price war between OPEC and other oil producing countries is rapidly evolving. We cannot predict the long-term impact of these events on our liquidity, financial position, results of operations or cash flows due to uncertainties including the severity of COVID-19, the duration of the outbreak domestically and worldwide, additional governmental or other actions taken to combat COVID-19 and the effect COVID-19 and the current depressed oil prices will have on the demand for oil and natural gas. These situations remain fluid and unpredictable, and we are actively managing our response.

Revenue Recognition – Revenues from Royalty Properties and NPIs are recorded under the cash receipts approach as directly received from the remitters’ statement accompanying the revenue check. Since the revenue checks are generally received two to four months after the production month, the Partnership accrues for revenue earned but not received by estimating production volumes and product prices. Identified differences between our accrued revenue estimates and actual revenue received historically have not been significant.

The Partnership does not record revenue for unsatisfied or partially unsatisfied performance obligations. The Partnership’s right to revenues from Royalty Properties and NPIs occurs at the time of production, at which point, payment is unconditional, and no remaining performance obligation exists for the Partnership. Accordingly, the Partnership’s revenue contracts for Royalty Properties and NPIs do not generate contract assets or contract liabilities.

Revenues from lease bonus payments are recorded upon receipt. The lease bonus is separate from the lease itself and is recognized as revenue to the Partnership upon receipt of payment. The Partnership generates lease bonus revenue by leasing its mineral interests to exploration and production companies, and includes proceeds from assignments of leasehold interests where the Partnership retains an interest. A lease agreement represents the Partnership’s contract with a lessee and generally transfers the rights to develop oil or natural gas, grants the Partnership a right to a specified royalty interest, and requires that drilling and completion operations commence within a specified time period. Upon signing a lease agreement, no further performance obligation exists for the Partnership, and therefore, no contract assets or contract liabilities are generated.

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Dorchester Minerals, L.P. (the “Partnership”) is a publicly traded Delaware limited partnership that was formed in December 2001, and commenced operations on January 31, 2003. The unaudited condensed consolidated financial statements include the accounts of the Partnership and its wholly-owned subsidiaries Dorchester Minerals Oklahoma LP, Dorchester Minerals Oklahoma GP, Inc., Maecenas Minerals LLP, Dorchester-Maecenas GP LLC, The Buffalo Co., A Limited Partnership, and DMLPTBC GP LLC. The accompanying unaudited condensed consolidated financial statements of the Partnership have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal and recurring adjustments unless indicated otherwise) that are, in the opinion of management, necessary for the fair presentation of our financial position and operating results for the interim period. Interim period results are not necessarily indicative of the results for the calendar year. For more information regarding limitations on the forward-looking statements contained herein, see page 1 of this Quarterly Report on Form 10-Q. Per unit information is calculated by dividing the income or loss applicable to holders of the Partnership’s common units by the weighted average number of units outstanding. The Partnership has no potentially dilutive securities and, consequently, basic and diluted income per unit do not differ. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership’s 2019 Annual Report on Form 10-K. The accompanying unaudited condensed consolidated financial statements include the consolidated results of the Partnership. All significant intercompany balances and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP 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 financial statements and the reported amounts of revenues and expenses during the reporting period. For example, estimates of uncollected revenues and unpaid expenses from Royalty Properties (which are interests in oil and natural gas leases that give the Partnership the right to receive a portion of the production from the leased acreage, without bearing the costs of such production) and net profits overriding royalty interests (referred to as the Net Profits Interests, or “NPIs”) operated by non-affiliated entities are particularly subjective due to our inability to gain accurate and timely information. Therefore, actual results could differ from those estimates.
Recent Events, Policy [Policy Text Block]	Recent Events – In January 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus (“COVID-19”) and the significant risks to the international community and economies as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified COVID-19 as a pandemic, based on the rapid increase in exposure globally, and throughout the second quarter of 2020 and thereafter, COVID-19 continued to spread throughout the U.S. In addition, after the Organization of the Petroleum Exporting Countries (“OPEC”) and a group of oil producing nations led by Russia failed in March 2020 to agree on oil production cuts, Saudi Arabia announced that it would cut oil prices and increase production, leading to a sharp further decline in oil and natural gas prices. While OPEC, Russia and other oil producing countries reached an agreement in April 2020 to reduce production levels, and U.S. production has declined, a significant crude oil price recovery is not expected until global supply matches current lower levels of demand caused by a number of factors, including the uncertainty around the extent and timing of an economic recovery due to the COVID-19 pandemic. The effects of COVID-19 and concerns regarding its domestic and global spread, as well as the recent actions by Russia and Saudi Arabia, could continue to negatively impact the domestic and international supply and demand for oil and natural gas, to sustain continued price volatility and impact the price paid for oil and natural gas and to materially and adversely affect the demand for and marketability of oil and natural gas production. We are closely monitoring the current and potential impact of the COVID-19 pandemic and future OPEC actions on all aspects of our business, including how these events may impact our future operations, financial results, liquidity, employees and producers. The impact of the COVID-19 pandemic and the related economic downturn and the historically low oil and natural gas prices on the account of the oil price war between OPEC and other oil producing countries is rapidly evolving. We cannot predict the long-term impact of these events on our liquidity, financial position, results of operations or cash flows due to uncertainties including the severity of COVID-19, the duration of the outbreak domestically and worldwide, additional governmental or other actions taken to combat COVID-19 and the effect COVID-19 and the current depressed oil prices will have on the demand for oil and natural gas. These situations remain fluid and unpredictable, and we are actively managing our response.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition – Revenues from Royalty Properties and NPIs are recorded under the cash receipts approach as directly received from the remitters’ statement accompanying the revenue check. Since the revenue checks are generally received two to four months after the production month, the Partnership accrues for revenue earned but not received by estimating production volumes and product prices. Identified differences between our accrued revenue estimates and actual revenue received historically have not been significant. The Partnership does not record revenue for unsatisfied or partially unsatisfied performance obligations. The Partnership’s right to revenues from Royalty Properties and NPIs occurs at the time of production, at which point, payment is unconditional, and no remaining performance obligation exists for the Partnership. Accordingly, the Partnership’s revenue contracts for Royalty Properties and NPIs do not generate contract assets or contract liabilities. Revenues from lease bonus payments are recorded upon receipt. The lease bonus is separate from the lease itself and is recognized as revenue to the Partnership upon receipt of payment. The Partnership generates lease bonus revenue by leasing its mineral interests to exploration and production companies, and includes proceeds from assignments of leasehold interests where the Partnership retains an interest. A lease agreement represents the Partnership’s contract with a lessee and generally transfers the rights to develop oil or natural gas, grants the Partnership a right to a specified royalty interest, and requires that drilling and completion operations commence within a specified time period. Upon signing a lease agreement, no further performance obligation exists for the Partnership, and therefore, no contract assets or contract liabilities are generated.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

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-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

+ Details

Note 1 - Basis of Presentation (Details Textual) shares in Thousands	6 Months Ended
	Jun. 30, 2020 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0

Note 2 - Acquisition for Units (Details Textual) - USD ($) $ in Millions	Mar. 29, 2019	Dec. 31, 2019	Aug. 21, 2019
Limited Partners' Capital Account, Units Authorized (in shares)			20,000,000
HHC [Member]
Business Acquisition, Percentage of Net Profits Interest Acquired	96.97%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total		$ 42.9
Impairment of Oil and Gas Properties	$ 4.3
HHC [Member] \| Partnership Interest [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)	2,400,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 43.8

Note 4 - Distributions to Holders of Common Units (Details Textual) - $ / shares	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Number of Units That Cash Distributions Were Paid on During the Period (in shares)	34,679,774	34,679,774
Distribution Made to Limited Partner, Distributions Paid, Per Unit (in dollars per share)	$ 0.226318