Phx Minerals Inc Stock Price, News & Analysis

PHX Minerals Inc. (NYSE: PHX) has successfully closed a new four-year, $100 million senior secured credit facility, enhancing its financial flexibility. The facility, led by Independent Bank, replaces the previous agreement with a lending syndicate led by Bank of Oklahoma. Key improvements include an initial borrowing base of $27.5 million, no quarterly commitment reduction, and a reduced interest rate of 3.75%. The company aims to further its transformation into a mineral-focused entity, owning approximately 251,000 net mineral acres across several states.

PHX Minerals Inc. (NYSE: PHX) has filed a prospectus supplement through an At-The-Market Equity Offering Sales Agreement with Stifel, allowing the sale of up to 3,000,000 shares of common stock. The net proceeds will be used for general corporate purposes, including funding for working capital and acquisitions, primarily mineral and royalty interests. The offering will be conducted under an effective shelf registration statement.

PHX Minerals (NYSE: PHX) reported a 31% increase in production volumes to 2,493 Mmcfe for Q3 2021, compared to 1,904 Mmcfe in Q3 2020. The net loss decreased to $1.36 million, or $0.05 per share, from a loss of $3.56 million, or $0.21 per share, a year earlier. Adjusted EBITDA rose to $4.7 million, up 292% year-over-year. The company also reduced total debt by 15% to $19.9 million and declared a $0.01 per share dividend payable on September 10, 2021. Recent acquisitions in Oklahoma and Haynesville have added to the company's mineral holdings, demonstrating strategic growth.

PHX Minerals Inc. (NYSE: PHX) will release its fiscal 2021 third quarter results on August 5, 2021, after market close. The company will host a conference call at 5:00 p.m. EDT the same day to discuss the results, followed by a Q&A session. Investors can join by calling 877-407-3088 (domestic) or 201-389-0927 (international). PHX operates approximately 255,000 net mineral acres across Oklahoma, Texas, North Dakota, New Mexico, and Arkansas, focusing on growth in its mineral holdings.

PHX Minerals (PHX) reported a net loss of $0.5 million for Q2 2021, significantly reduced from a net loss of $20.5 million in Q2 2020. Production volumes were 2,297 Mmcfe, a slight decline from 2,373 Mmcfe in the same quarter last year, but an increase from Q1 2021's 2,074 Mmcfe. Adjusted EBITDA rose to $3.4 million, up from $2.4 million in Q2 2020. The company reduced total debt by 13% to $23.5 million as of March 31, 2021, aiming for a debt-to-adjusted EBITDA ratio of approximately 1.0x by year-end 2021. PHX also declared a $0.01 per share dividend to be paid on June 4, 2021.

PHX Minerals Inc. (NYSE: PHX) announced it will release its fiscal 2021 second quarter results on May 6, 2021, after market close. The announcement will be followed by a conference call at 5:00 p.m. EDT to discuss the financial results, with a Q&A session for investors. The company owns approximately 253,000 net mineral acres primarily in Oklahoma, Texas, North Dakota, New Mexico, and Arkansas, focusing on natural gas and oil minerals. Additional details and the news release will be available on the company’s investor website.

PHX Minerals Inc. (NYSE: PHX) announced that underwriters exercised an option to purchase an additional 675,000 shares at $2.00 each, raising total shares offered to 6,175,000. The net proceeds are projected at $1,269,000, resulting in total proceeds of $11,209,000 to fund a pending acquisition and corporate needs. The transaction is expected to close around April 23, 2021. Stifel leads the offering with Northland Capital and Seaport Global as co-managers. This action follows an effective registration statement, with final prospectus details available upon request.

PHX Minerals Inc. (NYSE: PHX) has priced an underwritten public offering of 5,500,000 shares of common stock at $2.00 per share, increasing from an initial offering of 5,000,000 shares. The offering includes a 30-day option for underwriters to purchase an additional 825,000 shares. The expected net proceeds are approximately $9,940,000 and will be used to fund a pending acquisition and for general corporate purposes. The offering is anticipated to close around April 20, 2021.

PHX Minerals Inc. (NYSE: PHX) announced the acquisition of approximately 2,698 net royalty acres in the Southern SCOOP play for $11,947,000, comprising $9,547,000 in cash and $2,400,000 in common stock. The deal, approved by PHX's Board, aims to enhance the company's mineral portfolio, particularly in areas with active drilling programs. Estimated reserves from this acquisition are 20.3 Bcfe, with current production at 0.529 Mmcfe/d. The transaction is expected to close in late April 2021.