PHX Minerals Inc. Response to the WhiteHawk Proposal

PHX Minerals' Board of Directors has formally responded to and declined WhiteHawk Energy's acquisition proposal.

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Rhea-AI Summary

PHX Minerals' Board of Directors has formally responded to and declined WhiteHawk Energy's acquisition proposal. The board stated they appreciate stockholder engagement aimed at enhancing value but determined that rejecting WhiteHawk's offer was in the best interest of PHX stockholders. The company affirmed its commitment to continue reviewing opportunities focused on maximizing stockholder value.

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11/14/2024 - 09:00 AM EST

FORT WORTH, Texas, Nov. 14, 2024 /PRNewswire/ -- PHX MINERALS INC., "PHX" or the "Company" (NYSE: PHX): The Board of Directors of PHX responds to the WhiteHawk Energy, LLC ("WhiteHawk") proposal to acquire PHX.

The PHX Board of Directors appreciates engagement from all stockholders to enhance stockholder value. We and PHX management continue to review opportunities that are focused on maximizing stockholder value. With respect to the WhiteHawk proposal, as we communicated to WhiteHawk, the Board of Directors of PHX believes it is in the best interest of the Company's stockholders to decline this proposal.

About PHX Minerals Inc.

PHX Minerals is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core focus areas. PHX owns mineral acreage principally located in Oklahoma, Texas, Louisiana, North Dakota and Arkansas. Additional information on the Company can be found at www.phxmin.com.

Investor Contact:

Rob Fink / Stephen Lee
FNK IR
646.809.4048
PHX@fnkir.com

Corporate Contact:

405.948.1560
inquiry@phxmin.com

View original content:https://www.prnewswire.com/news-releases/phx-minerals-inc-response-to-the-whitehawk-proposal-302304948.html

SOURCE PHX MINERALS INC.

FAQ

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What was PHX Minerals' response to WhiteHawk Energy's acquisition proposal?

PHX Minerals' Board of Directors declined WhiteHawk Energy's acquisition proposal, stating it was not in the best interest of the company's stockholders.

Why did PHX Minerals (PHX) reject WhiteHawk Energy's acquisition offer?

PHX Minerals' Board of Directors determined that declining WhiteHawk's proposal was in the best interest of the company's stockholders, though specific reasons were not disclosed in the announcement.

When did PHX Minerals announce its response to WhiteHawk's acquisition proposal?

PHX Minerals announced its response to WhiteHawk's acquisition proposal on November 14, 2024.

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