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. (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.
PHX Minerals Inc. (NYSE: PHX) announced it will release its fiscal 2022 second-quarter results on May 9, 2022, after the market closes. The subsequent conference call to discuss the results is scheduled for May 10, 2022, at 11:00 a.m. EST. Investors can join by dialing 877-407-3088 for domestic calls or 201-389-0927 for international participation. The news release will be accessible on the company's website in the Investors section. PHX Minerals focuses on growing its mineral holdings primarily in Oklahoma, Texas, Louisiana, North Dakota, and Arkansas.
PHX Minerals Inc. (NYSE: PHX) has announced the acquisition of approximately 506 net royalty acres in the Haynesville play, primarily located in Louisiana, for $5.1 million. The deal, unanimously approved by the Board, will be funded through cash and credit facility borrowings, expected to close by May 27, 2022. This acquisition adds to PHX's portfolio of 5,000 net royalty acres since January 2020, with the company investing around $40 million. The Haynesville area is positioned as a critical natural gas resource, crucial for U.S. LNG exports and Europe's energy needs amid ongoing crises.
PHX Minerals Inc. (NYSE: PHX) announced the appointment of Steve Packebush to its Board of Directors effective April 1, 2022, filling the vacancy left by the retirement of Christopher T. Fraser on March 2, 2022. Packebush, a founder of Elevar Partners and former president of Koch Ag & Energy Solutions, brings extensive experience in the agriculture and energy sectors. His addition is expected to provide valuable insights and a fresh perspective to the board, enhancing the company's strategy to grow its mineral assets across key regions.
PHX MINERALS INC. (PHX) reported a net income of $6.7 million in Q1 2022, a significant improvement from a net loss of $0.6 million in Q1 2021. Royalty production volumes surged 23% to 1,225 Mmcfe, while total production volumes decreased by 4% to 2,128 Mmcfe. Revenue from natural gas, oil, and NGL sales rose 113% year-over-year to approximately $13.7 million, driven by higher prices and increased volumes. Total debt increased to $20 million to fund mineral acquisitions, with a debt-to-adjusted EBITDA ratio of 1.16x. PHX aims to boost royalty volumes to over 75% of total production by 2024.
PHX Minerals Inc. (NYSE: PHX) will release its fiscal 2022 first quarter results on February 14, 2022, after market close. A conference call to discuss these results is scheduled for February 15, 2022, at 11:00 a.m. EST. Interested participants can join by dialing 877-407-3088 for domestic or 201-389-0927 for international access. PHX Minerals focuses on the growth of its mineral position across key states including Oklahoma, Texas, Louisiana, North Dakota, and Arkansas, further positioning itself within the natural gas and oil sector.
PHX Minerals Inc. (PHX) reported financial results for Q4 and FY 2021, with total production increasing 6% year-over-year to 9,076 Mmcfe. Royalty production volumes rose 25% to 4,178 Mmcfe for the fiscal year. Despite a net loss of $(6.2) million, a significant improvement from $(24.0) million in FY 2020, the company saw an 11% rise in adjusted EBITDA to $15.0 million. A 50% increase in the quarterly dividend to 1.5 cents per share was announced. Debt was reduced by 39%, now totaling $17.5 million, improving the total debt to adjusted EBITDA ratio to 1.17x.
PHX Minerals Inc. (NYSE: PHX) announced an increase in its Credit Facility borrowing base from $27.5 million to $32.0 million. The Company also has purchase agreements for 426 net royalty acres in Caddo Parish, Louisiana, for $5,787,272 in cash. The Acquisition is funded through cash and borrowings, leading to an estimated total debt of $20.0 million post-acquisition. CEO Chad Stephens noted that the Acquisition will provide immediate cash flow and help replace volumes from a previous divestiture. The deal is set to close by December 15, 2021.
PHX Minerals Inc. (NYSE: PHX) has divested 193 non-operated legacy wellbores in Oklahoma, generating approximately $2.5 million, with buyers assuming $500,000 of asset retirement obligations. This follows previous sales totaling $4.625 million, removing $670,000 in obligations from the balance sheet. Additionally, PHX acquired 172 net royalty acres in Carter and Stephens Counties for $1.376 million. These moves are part of PHX's strategy to enhance its asset base, focusing on higher-margin minerals and expected to maintain overall production levels in 2022.
PHX Minerals Inc. (NYSE: PHX) announced it will release its fiscal 2021 results on December 13, 2021, after the market closes. A conference call to discuss these results will occur at 5:00 p.m. EST the same day, allowing for a question-and-answer session with investors. The company's mineral assets are primarily located in states such as Oklahoma, Texas, North Dakota, New Mexico, and Arkansas. Interested parties can access the news release and participate by calling specific domestic or international numbers provided.
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