Welcome to our dedicated page for PHX Minerals news (Ticker: PHX), a resource for investors and traders seeking the latest updates and insights on PHX Minerals stock.
PHX Minerals Inc. (NYSE: PHX) is a Fort Worth-based natural gas and oil mineral company with a strategic focus on perpetual mineral and natural gas ownership. As part of its business plan, PHX has shifted away from drilling activities and now concentrates primarily on owning mineral acreage. The company holds substantial mineral assets across key locations including Oklahoma, Texas, Louisiana, North Dakota, and Arkansas.
PHX derives its revenues from royalties obtained through the production and sale of natural gas, oil, and natural gas liquids (NGLs). A smaller portion of its income also comes from its legacy interests in working properties that have ceased operations. The company's mineral assets have been strategically acquired to enhance its royalty volumes and streamline cash flow, positioning it for consistent performance in fluctuating market conditions.
Recent achievements include significant royalty volume growth, expansion of 2P royalty reserves, and the acquisition of high-quality mineral acres in the Haynesville and SCOOP plays. These initiatives have strengthened the company’s portfolio, allowing it to raise its quarterly dividend by 33% despite challenging market conditions driven by natural gas price volatility.
PHX maintains a strong financial condition with a proactive approach to capital management. The company recently had its $50 million credit facility reaffirmed and extended to 2028 by its bank lending group led by Independent Financial, demonstrating confidence in PHX's asset quality and financial stability.
Management remains committed to enhancing shareholder value through a focused acquisition strategy, optimizing its substantial mineral holdings, and maintaining a strong balance sheet. Upcoming milestones include the release of quarterly and annual financial results, coupled with investor conference calls to discuss performance and strategic outlook.
For more information, visit the company's website at www.phxmin.com.
PHX Minerals Inc. (PHX) reported strong financial results for Q4 and fiscal year 2022, achieving a net income of $9.2 million ($0.26/share) in Q4 and $20.4 million ($0.59/share) for the year. Adjusted EBITDA rose to $8.4 million in Q4 and $25.8 million for the year. Royalty production set a record at 1,842 Mmcfe in Q4, up 15% year-over-year. Proved royalty reserves jumped 45% to 52.8 Bcfe. The company increased its quarterly dividend by 12.5% and reaffirmed its borrowing base at $50 million. Total debt stood at $28.3 million with a debt to adjusted EBITDA ratio of 1.10x.
PHX Minerals Inc. (NYSE: PHX) will release its fiscal 2022 results on December 13, 2022, after market close. A follow-up conference call is scheduled for 11:00 a.m. EST on December 14, 2022, where management will discuss the results and answer investor questions. The company, based in Fort Worth, focuses on growing its mineral position primarily in Oklahoma, Texas, Louisiana, North Dakota, and Arkansas. The news release and conference call access information can be found on the company's website.
PHX Minerals Inc. (NYSE: PHX) announced a quarterly dividend of $0.02 per share, payable on Dec. 7, 2022, to shareholders of record on Nov. 23, 2022. The company, based in Fort Worth, Texas, focuses on the natural gas and oil mineral sector, owning mineral rights primarily in Oklahoma, Texas, Louisiana, North Dakota, and Arkansas. This dividend highlights the company's commitment to returning value to shareholders while strategically growing its mineral position in key areas.
PHX Minerals Inc. (NYSE: PHX) has completed the divestiture of 210 legacy non-operated working interest wellbores in the Fayetteville Shale for $6,050,000. This sale reduces the company's asset retirement obligations by approximately $212,000. In a strategic move, PHX also acquired 575 net royalty acres in Louisiana for $6,226,489, redeploying the funds from the divestiture. These transactions aim to enhance the asset base by focusing on higher-margin royalty minerals in active natural gas production areas, potentially increasing cash flows in future quarters.
PHX Minerals Inc. (PHX) reported a strong third fiscal quarter for 2022, achieving a net income of $8.6 million ($0.25 per share) compared to a net loss of $4.0 million in the previous quarter. Adjusted EBITDA rose to $7.2 million, up from $5.8 million. Royalty production increased by 3% to 1,595 Mmcfe, while total production slightly declined by 1% to 2,430 Mmcfe. Total debt stood at $28.3 million, with a debt-to-adjusted EBITDA ratio of 1.31x. The company also declared a $0.02 quarterly dividend, payable on September 9, 2022.
PHX Minerals Inc. (NYSE: PHX) announces it will release its fiscal 2022 third-quarter results on August 8, 2022, after market close. A conference call to discuss these results will take place on August 9, 2022, at 11:00 a.m. EDT. Investors can join the call by calling 877-407-3088 for domestic lines or 201-389-0927 for international access. PHX Minerals is focused on growing its mineral position across approximately 75,000 net leased mineral acres primarily located in Oklahoma, Louisiana, Texas, North Dakota, and Arkansas.
PHX Minerals Inc. (NYSE: PHX) announced that President and CEO Chad Stephens, along with CFO Ralph D'Amico, will present at the Stifel 2022 Cross Sector Insight Conference on June 9, 2022, at 3:35 p.m. EDT in Boston. The company, based in Oklahoma City, focuses on natural gas and oil mineral rights and owns approximately 75,000 net leased mineral acres across Oklahoma, Louisiana, Texas, North Dakota, and Arkansas. Investors can access the conference webcast through the Investor Relations section on the company's website.
PHX Minerals Inc. (NYSE: PHX) announced an amendment to its credit facility, increasing the borrowing base from $32.0 million to $50.0 million. As of March 31, 2022, the company had $24.0 million outstanding under the facility and $1.7 million in cash, resulting in total liquidity of approximately $27.7 million. This 72% increase reflects confidence in PHX's high-quality assets and supports its mineral acquisition strategy, which focuses on converting undeveloped locations to production.
PHX Minerals Inc. (PHX) reported second-quarter results for fiscal 2022, highlighting a net loss of $4 million ($0.12 per share), a significant decline from net income of $6.7 million in the previous quarter. Royalty production volumes surged 26% to a record 1,548 Mmcfe, while total production rose 16% to 2,460 Mmcfe. Adjusted EBITDA improved to $5.8 million, up from $3.6 million year-over-year. The company made significant acquisitions, closing on $9.3 million in net royalty acres. Additionally, the quarterly dividend increased by 33% to $0.02 per share, payable June 3, 2022.
PHX Minerals Inc. (NYSE: PHX) announced an acquisition of approximately 477 net royalty acres in the Haynesville play, Louisiana, for $4.3 million. This acquisition complements a previous $5.1 million deal from April 19, 2022. Funded through cash and borrowings, the acquisition is expected to close by May 13, 2022. It includes three producing gross wells and an estimated net reserve of 3.0 Bcf, with production anticipated at 350 to 450 mcf/d. This expansion strengthens PHX's footprint in the Haynesville and is operated by Chesapeake.
FAQ
What is the current stock price of PHX Minerals (PHX)?
What is the market cap of PHX Minerals (PHX)?
What does PHX Minerals Inc. do?
Where are PHX Minerals' primary operations located?
How does PHX Minerals generate revenue?
What are the recent achievements of PHX Minerals?
What is PHX Minerals' financial condition?
How does PHX plan to enhance shareholder value?
When will PHX release its next financial results?
Where can I find more information about PHX Minerals?
