PHX MINERALS INC. Announces New Director

Rhea-AI Summary

PHX MINERALS INC. (NYSE: PHX) announced the appointment of John H. Pinkerton to its Board of Directors effective February 1, 2021. Mr. Pinkerton succeeds Robert E. Robotti, who retired on May 1, 2020. This addition increases the board size to six members. With extensive experience in the oil and gas sector, including leadership roles at Range Resources Corporation and Encino Energy, Mr. Pinkerton aims to enhance the company's growth strategy in mineral acquisitions.

Positive

• Appointment of John H. Pinkerton adds valuable industry experience.
• Mr. Pinkerton's background supports the growth strategy through mineral acquisitions.

Negative

• Replacement may raise concerns about continuity in board experience.

OKLAHOMA CITY, Jan. 19, 2021 /PRNewswire/ -- PHX MINERALS INC., "PHX," (NYSE: PHX), today announced that John H. Pinkerton was appointed to the Company's Board of Directors effective Feb. 1, 2021.  Mr. Pinkerton was appointed to replace Robert E. Robotti, who retired effective May 1, 2020, and his appointment increases the board's size to six members.

"Our Board and management team are delighted that Mr. Pinkerton has agreed to join our Board of Directors. His extensive background and expertise in many facets of the oil and gas business increase the Board's ability to assist our management team with the execution of our growth through mineral acquisition strategy," said Mark Behrman, PHX's Lead Independent Director.

Mr. Pinkerton joined Range Resources Corporation as President in 1990 and as Chief Executive Officer from 1992 until 2012. He served as a director starting in 1988 and as Chairman from 2008 until January 2015.  During his tenure, Range Resources grew from its small cap origins to be a $13 billion enterprise with a preeminent position in the Marcellus Shale. Mr. Pinkerton currently serves as Executive Chairman and is Chairman of the Board of Directors of Encino Energy, a private oil and gas operating company, since 2017.  He also serves as a director of EP Energy since 2020.  Mr. Pinkerton received his Bachelor of Arts degree in Business Administration from Texas Christian University, where he now serves on the board of trustees, and a Master's degree from the University of Texas at Arlington.

PHX Minerals Inc. (NYSE: PHX) Oklahoma City-based, PHX Minerals Inc. is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in our core areas of focus. PHX owns approximately 253,000 net mineral acres principally located in Oklahoma, Texas, North Dakota, New Mexico and Arkansas. Approximately 71% of this mineral count is unleased and undeveloped. Additional information on PHX can be found at www.phxmin.com.

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SOURCE PHX MINERALS INC.

FAQ

Who is John H. Pinkerton and what is his role at PHX?

John H. Pinkerton was appointed to the Board of Directors of PHX MINERALS effective February 1, 2021, to enhance the company’s growth strategy.

What impact does John H. Pinkerton's appointment have on PHX?

His extensive experience in the oil and gas industry is expected to strengthen PHX's strategic direction in mineral acquisitions.

Why did Robert E. Robotti retire from PHX MINERALS?

Robert E. Robotti retired effective May 1, 2020, leading to the appointment of John H. Pinkerton.

When did John H. Pinkerton start at PHX MINERALS?

John H. Pinkerton's appointment took effect on February 1, 2021.