Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 7
Key Information 7
Company Overview 7
Dorchester Minerals LP, Valuation and Financial Data 8
Dorchester Minerals LP, Share Price Performance 8
Share Price Performance, Q4, 2016-Q4, 2017 8
Dorchester Minerals LP, Key Valuation Metrics 9
Key Valuation Metrics, Q4, 2016-Q4, 2017 9
Dorchester Minerals LP, Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q4, 2016-Q4, 2017 10
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2016-Q4, 2017 11
Dorchester Minerals LP, Quarterly Production Trends 12
Dorchester Minerals LP, Total Oil and Gas Production 12
Total Crude Oil and Natural Gas Production Trend, Q4, 2016-Q4, 2017 12
Dorchester Minerals LP, Crude Oil Production 13
Total Crude Oil Production Trend, Q4, 2016-Q4, 2017 13
Dorchester Minerals LP, Natural Gas Production 14
Total Natural Gas Production Trend, Q4, 2016-Q4, 2017 14
Dorchester Minerals LP, Valuation and Financial Data, 2013-2017 15
Dorchester Minerals LP, Share Price Performance, 2013-2017 15
Share Price Performance, 2013-2017 15
Key Valuation Metrics, 2013-2017 17
Dorchester Minerals LP, Production and Reserves Trends 18
Total Oil and Gas, Reserves and Production 18
Total Crude Oil and Natural Gas Production and Reserves Trend, 2013-2017 18
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2013-2017 20
Total Crude Oil and Natural Gas Reserve Changes, 2013-2017 22
Crude Oil/Liquids Production and Reserve 23
Crude Oil/Liquids Production and Reserve Trend, 2013-2017 23
Crude Oil Production and Reserves By Country/Region, 2013-2017 24
Crude Oil/Liquids Reserve Changes, 2013-2017 25
Natural Gas Production and Reserve 26
Natural Gas Production and Reserve Trend, 2013-2017 26
Natural Gas Production and Reserves, By Country/Region, 2013-2017 27
Natural Gas Reserve Changes, 2013-2017 29
Total Crude Oil and Natural Gas Reserves Life Index 30
Total Crude Oil and Natural Gas Reserves Life Index, 2013-2017 30
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2013-2017 31
Dorchester Minerals LP, E&P Costs Trends 33
Allocation of the Upstream Capital Expenditure 33
Upstream Capital Expenditure, 2013-2017 33
Exploration and Development Costs, By Country/Region, 2013-2017 34
Oil and Gas Cost Per boe, US$/boe 35
Oil and Gas Cost Per boe, US$/boe, 2013-2017 35
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2013-2017 37
Dorchester Minerals LP, Reserve Replacement Ratio 39
Oil and Gas Production Replacement Ratio 39
Oil and Gas Production Replacement Ratio, 2013-2017 39
Oil and Gas Production Replacement Ratio, By Country/Region, 2013-2017 42
Dorchester Minerals LP, Results of Oil & Gas Operations Trend 46
Oil and Gas Revenue and Expenses 46
Oil and Gas Revenue and Expenses, 2013-2017 46
Oil and Gas Revenue and Expenses, By Country/Region, 2013-2017 48
Oil and Gas Revenue and Expenses, Per boe 52
Oil and Gas Revenue and Expenses, By boe, 2013-2017 52
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2013-2017 53
Oil and Gas Performance Metrics 56
Well Statistics 57
Producible Oil and Gas Well, 2013-2017 57
Producible Oil and Gas Well, By Country/Region, 2013-2017 58
Recent Developments 60
Dorchester Minerals LP - Recent Developments 60
Aug 06, 2018: Dorchester Minerals announces second quarter results 60
Mar 08, 2018: Dorchester Minerals Announces 2017 Results 60
Dec 07, 2017: Dorchester Minerals Announces Change In Board Of Managers 60
Dec 07, 2017: Dorchester Minerals Announces Change In Board Of Managers 60
May 04, 2017: Dorchester Minerals Announces First Quarter Results 61
Mar 02, 2017: Dorchester Minerals Announces 2016 Results 61
Appendix 62
Methodology 62
Coverage 62
Secondary Research 62
Primary Research 63
Data Information Sources 63
Company Source 63
SEC/Other Regulatory Filings 63
Other Sources 63
Expert Panel Validation 63
Data Definition 63
Oil and Gas Reserves 63
Units of Measure 64
About GlobalData 65
Disclosure 65
Disclaimer 65

List of Tables
Table 1: Dorchester Minerals LP, Key Facts 7
Table 2: Dorchester Minerals LP, Share Price Performance, Q4, 2016-Q4, 2017 8
Table 3: Dorchester Minerals LP, Key Valuation Metrics, Q4, 2016-Q4, 2017 9
Table 4: Dorchester Minerals LP, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2016-Q4, 2017 10
Table 5: Dorchester Minerals LP, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2016-Q4, 2017 11
Table 6: Dorchester Minerals LP, Total Crude Oil and Natural Gas, Production, Q4, 2016-Q4, 2017 12
Table 7: Dorchester Minerals LP, Total Crude Oil Production, mmbbl, Q4, 2016-Q4, 2017 13
Table 8: Dorchester Minerals LP, Total Natural Gas Production, bcf, Q4, 2016-Q4, 2017 14
Table 9: Dorchester Minerals LP, Share Price Performance, 2013-2017 16
Table 10: Dorchester Minerals LP, Key Valuation Metrics, 2013-2017 17
Table 11: Dorchester Minerals LP, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 19
Table 12: Dorchester Minerals LP, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2013-2017 21
Table 13: Dorchester Minerals LP, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013-2017 22
Table 14: Dorchester Minerals LP, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 23
Table 15: Dorchester Minerals LP, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2013-2017 24
Table 16: Dorchester Minerals LP, Crude Oil Reserve Changes, mmbbl, 2013-2017 25
Table 17: Dorchester Minerals LP, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 26
Table 18: Dorchester Minerals LP, Natural Gas Production and Reserves, By Country/Region, bcf, 2013-2017 28
Table 19: Dorchester Minerals LP, Natural Gas Reserve Changes, bcf, 2013-2017 29
Table 20: Dorchester Minerals LP, Oil and Gas Reserves Life Index, Years, 2013-2017 30
Table 21: Dorchester Minerals LP, Oil and Gas Reserves Life Index, By Country/Region, Years, 2013-2017 32
Table 22: Dorchester Minerals LP, Upstream Capital Expenditure, US$ mil, 2013-2017 33
Table 24: Dorchester Minerals LP, Exploration and Development Costs, By Country/Region, US$ mil, 2013-2017 34
Table 25: Dorchester Minerals LP, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2013-2017 36
Table 26: Dorchester Minerals LP, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2013-2017 38
Table 27: Dorchester Minerals LP, Oil and Gas Production Replacement Ratio, %, 2013-2017 40
Table 28: Dorchester Minerals LP, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2013-2017 45
Table 29: Dorchester Minerals LP, Revenue and Expenses, US$ mil, 2013-2017 47
Table 30: Dorchester Minerals LP, Revenue and Expenses, By Country/Region, US$ mil, 2013-2017 51
Table 31: Dorchester Minerals LP, Oil and Gas Revenue and Expenses, US$/boe, 2013-2017 52
Table 32: Dorchester Minerals LP, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2013-2017 55
Table 33: Dorchester Minerals LP, Oil and Gas Performance Metrics, 2013-2017 56
Table 34: Dorchester Minerals LP, Producible Oil and Gas Wells, 2013-2017 57
Table 35: Dorchester Minerals LP, Producible Oil and Gas Wells, By Country/Region, 2013-2017 59

List of Figures
Figure 1: Dorchester Minerals LP, Share Price Performance, USD/Share, Q4, 2016-Q4, 2017 8
Figure 2: Dorchester Minerals LP, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2016-Q4, 2017 9
Figure 3: Dorchester Minerals LP, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2016-Q4, 2017 10
Figure 7: Dorchester Minerals LP, Share Price Performance, USD/Share, 2013-2017 15
Figure 8: Dorchester Minerals LP, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2013-2017 17
Figure 9: Dorchester Minerals LP, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 18
Figure 10: Dorchester Minerals LP, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2013-2017 20
Figure 11: Dorchester Minerals LP, Total Oil & Gas Production, By Country/Region, mmboe, 2013-2017 20
Figure 12: Dorchester Minerals LP, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2017 22
Figure 13: Dorchester Minerals LP, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 23
Figure 14: Dorchester Minerals LP, Oil Reserves, End of Period, By Country/Region, mmbbl, 2013-2017 24
Figure 16: Dorchester Minerals LP, Crude Oil Reserve Changes, mmbbl, 2017 25
Figure 17: Dorchester Minerals LP, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 26
Figure 18: Dorchester Minerals LP, Gas Reserves, End of Period, By Country/Region, bcf, 2013-2017 27
Figure 19: Dorchester Minerals LP, Gas Production, By Country/Region, bcf, 2013-2017 27
Figure 20: Dorchester Minerals LP, Natural Gas Reserve Changes, bcf, 2017 29
Figure 21: Dorchester Minerals LP, Oil and Gas Reserves Life Index, Years, 2013-2017 30
Figure 22: Dorchester Minerals LP, Gas Reserve Life Index, By Country/Region, Years, 2013-2017 31
Figure 23: Dorchester Minerals LP, Oil & Gas Reserve Life Index, By Country/Region, Years, 2013-2017 31
Figure 24: Dorchester Minerals LP, Oil Reserve Life Index, By Country/Region, Years, 2013-2017 32
Figure 25: Dorchester Minerals LP, Development Costs, By Country/Region, US$ mil, 2013-2017 34
Figure 26: Dorchester Minerals LP, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2013-2017 35
Figure 27: Dorchester Minerals LP, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2013-2017 37
Figure 28: Dorchester Minerals LP, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2013-2017 37
Figure 29: Dorchester Minerals LP, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2013-2017 39
Figure 30: Dorchester Minerals LP, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2013-2017 42
Figure 31: Dorchester Minerals LP, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2013-2017 42
Figure 32: Dorchester Minerals LP, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2013-2017 43
Figure 33: Dorchester Minerals LP, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2013-2017 43
Figure 34: Dorchester Minerals LP, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2013-2017 44
Figure 35: Dorchester Minerals LP, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2013-2017 44
Figure 36: Dorchester Minerals LP, Revenue and Expenses, US$ mil, 2013-2017 46
Figure 37: Dorchester Minerals LP, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 48
Figure 38: Dorchester Minerals LP, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 48
Figure 39: Dorchester Minerals LP, Oil & Gas Revenue, By Country/Region, US$ mil, 2013-2017 49
Figure 40: Dorchester Minerals LP, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 49
Figure 41: Dorchester Minerals LP, Production Costs, By Country/Region, US$ mil, 2013-2017 50
Figure 42: Dorchester Minerals LP, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 50
Figure 43: Dorchester Minerals LP, Oil and Gas Revenue and Expenses, US$/boe, 2013-2017 52
Figure 44: Dorchester Minerals LP, Lifting Cost per boe, By Country/Region, US$/boe, 2013-2017 53
Figure 45: Dorchester Minerals LP, Annual Net Income per boe, By Country/Region, US$/boe, 2013-2017 53
Figure 46: Dorchester Minerals LP, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2013-2017 54
Figure 47: Dorchester Minerals LP, Total DD&A per boe, By Country/Region, US$/boe, 2013-2017 54
Figure 48: Dorchester Minerals LP, Total Revenue per boe, By Country/Region, US$/boe, 2013-2017 55
Figure 49: Dorchester Minerals LP, Oil and Gas Performance Metrics, 2013-2017 56
Figure 50: Dorchester Minerals LP, Producible Oil and Gas Wells, 2013-2017 57
Figure 51: Dorchester Minerals LP, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 58
Figure 52: Dorchester Minerals LP, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2013-2017 58
Figure 53: Dorchester Minerals LP, Net Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 59