Phx Minerals Inc Stock Price, News & Analysis

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.

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.