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. (formerly listed on the New York Stock Exchange under the symbol PHX) generated a steady flow of corporate and operational news while it was a standalone public company and through its subsequent acquisition by WhiteHawk Income Corporation. News coverage for PHX spans quarterly and annual financial results, production and leasing updates, strategic reviews and the detailed steps of its sale process.
Company releases have reported net income, adjusted EBITDA, royalty and working interest production volumes, and natural gas, oil and NGL sales. Operating updates have highlighted wells converted to producing status, wells in progress and permits across PHX’s mineral positions, and leasing activity such as net mineral acres leased to third-party exploration and production companies. These disclosures provide context on how PHX’s natural gas and oil mineral assets in states such as Oklahoma, Texas, Louisiana, North Dakota and Arkansas were being developed and managed over time.
News items also document key corporate actions, including the board’s decision to initiate a strategic alternatives process, responses to acquisition proposals, and the eventual execution of an Agreement and Plan of Merger with WhiteHawk. Subsequent announcements describe the tender offer, the percentage of shares tendered, the closing of the all-cash transaction at $4.35 per share, and the completion of the merger on June 23, 2025, after which PHX became a wholly owned subsidiary of WhiteHawk Acquisition, Inc.
This PHX news page serves as an archive of those developments, from earnings releases and operational commentary to transaction milestones and delisting notices. Readers can review how PHX’s financial performance, production profile and corporate strategy evolved leading up to its acquisition and the suspension of trading in its shares.
PHX Minerals announced it will release its financial results for the quarter ended Sept. 30, 2024, after market close on Nov. 6, 2024. The company will host a conference call to discuss the results on Nov. 7, 2024, at 12 p.m. EST. Investors can join via phone (877-407-3088 U.S. Toll-Free or 201-389-0927) or access the webcast through the company's website. A replay will be available for 14 days using access code 13748980.
WhiteHawk Energy has reiterated its proposal to acquire PHX Minerals for $4.00 per share in an all-cash transaction. This offer represents a 19% premium to PHX's 90-day volume weighted average price and a 17% premium to its 30-day volume weighted average price. WhiteHawk currently owns 946,506 common shares of PHX, approximately 2.5% of the outstanding common stock.
The proposal includes an option for qualified PHX stockholders to exchange their shares for WhiteHawk common shares. WhiteHawk has been attempting to engage with PHX for over 18 months, expressing concerns about PHX's excessive G&A expenses, dilutive acquisitions, and minimal dividends. WhiteHawk urges PHX's Board of Directors to engage in good faith negotiations, highlighting PHX's underperformance compared to peers and market indices since 2020.
LSB Industries (NYSE: LXU) announced the retirement of Richard Roedel as Chairman of the Board due to health reasons. Mark Behrman, the company's President and CEO, has been elected as the new Board Chairman, while Lynn White has been appointed Lead Independent Director. Mr. Roedel will remain on the Board until a successor is identified to ensure a smooth transition.
Mr. Behrman, who joined LSB in 2014 and became President and CEO in 2018, has led the company through operational and balance sheet transformation. He has also established LSB's low carbon ammonia strategy. With 30 years of experience in finance and investment banking, Mr. Behrman has been instrumental in positioning LSB for future growth in the global energy transition.
PHX Minerals (NYSE: PHX) reported financial and operating results for Q2 2024. The company achieved a record royalty production of 2,709 Mmcfe, a 46% increase from Q1 2024. Net income was $1.3 million, or $0.04 per diluted share, compared to a net loss of $0.2 million in Q1 2024. Adjusted EBITDA rose to $6.4 million from $4.6 million in Q1 2024.
PHX converted 55 gross wells to producing status and reduced its total debt by $4.0 million to $28.8 million. The debt-to-adjusted EBITDA ratio improved to 1.32x. The company increased its fixed quarterly dividend by 33% to $0.04 per share, payable on Sep. 6, 2024.
PHX Minerals Inc. (NYSE: PHX) has announced its schedule for releasing financial results for the quarter ended June 30, 2024. The company will release its quarterly results on Wednesday, August 7, 2024, after the market closes. Following this, management will host a conference call on Thursday, August 8, 2024, at 11 a.m. EDT to discuss the results.
Investors and interested parties can access the conference call by dialing 877-407-3088 (U.S. Toll-Free) or 201-389-0927. A replay of the call will be available for 14 days by dialing 877-660-6853 and using the access code 13748051. Additionally, a live audio webcast of the conference call will be accessible from the 'Investors' section of the PHX website and will be archived for at least 90 days.
PHX Minerals, listed on the NYSE as PHX, has announced a quarterly dividend of $0.03 per share.
This dividend will be paid on June 11, 2024, to shareholders who own the stock as of May 31, 2024.
The announcement was made by the company's Board of Directors on May 20, 2024.
PHX Minerals Inc. reported a net loss of ($0.2) million for the quarter ended March 31, 2024, with Adjusted EBITDA at $4.6 million. Royalty and total production volumes decreased, and debt was $30.8 million. The company entered into a credit agreement amendment extending maturity to Sept. 1, 2028.
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