The stakeholders of Dorchester Minerals are enjoying the benefits of three natural resource exploitation enterprises which came together as one. The oil and gas exploration company was formed by the 2003 merger of oil trust Dorchester Hugoton with Republic Royalty and Spinnaker Royalty. Dorchester Minerals' holdings include about 141,600 net acres in Texas and 62,850 net acres in Montana. The company holds assets (producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests) in properties in 574 counties in 25 states. In 2009 Dorchester Minerals reported proved reserves of 60.3 billion cu. ft. of natural gas and 3.3 million barrels of oil and condensate.