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PHX Minerals rises 10.6% » 12:0006/0906/09/22
PHX Minerals is up 10.6%,…
PHX Minerals is up 10.6%, or 47c to $4.91.
PHX Minerals annunces acquisition in the Haynesville play for $4.3M » 16:2204/2504/25/22
PHX Minerals (PHX)…
PHX Minerals (PHX) announced a mineral and royalty acquisition targeting the Haynesville play in Louisiana. PHX has agreed to acquire approximately 477 net royalty acres located in three contiguous sections operated by Chesapeake (CHK) for aggregate consideration of $4.3M in cash from a private seller subject to customary closing adjustments. The Acquisition is in addition to the Company's $5.1M acquisition in the Haynesville announced on April 19, and will also be funded with a combination of cash on hand and borrowings under our existing credit facility. The Company continues to expand its presence in the Haynesville while preserving the strength of our balance sheet. The transaction is subject to certain closing conditions and is expected to close by May 13, 2022. Acquisition Highlights include: approximately 477 net royalty acres in Louisiana primarily located in Caddo Parish, focused on the Haynesville play; includes 3 PDP gross wells, 2 gross drilled uncompleted wells (DUCs) and an additional estimated 10 gross undrilled locations; acquisition averages 1.8% NRI across three sections, providing impactful future cashflows; no drilling rigs currently running on the Acquisition assets with an additional two drilling rigs within 2.5 miles of the Acquisition assets1; estimated net reserves of 3.0 Bcf; estimated next 12 months net production totaling between 350 to 450 mcf/d, comprised of 100% natural gas; and acquisition assets are operated by Chesapeake.
PHX Minerals announces acquisition in the Haynesville play for $5.10M » 09:0204/1904/19/22
PHX Minerals announced a…
PHX Minerals announced a mineral and royalty acquisition targeting the Haynesville play in East Texas and Louisiana. PHX has agreed to acquire approximately 506 net royalty acres for aggregate consideration of $5.10M in cash from a private seller subject to customary closing adjustments. The transaction will be funded with a combination of cash on hand and borrowings under our existing credit facility. The Board of Directors of PHX unanimously approved the Acquisition, which is subject to certain closing conditions and is expected to close by May 27.
PHX Minerals rises 6.7% » 09:4704/1804/18/22
PHX Minerals is up 6.7%,…
PHX Minerals is up 6.7%, or 24c to $3.80.
PHX Minerals rises 11.4% » 12:0004/1304/13/22
PHX Minerals is up 11.4%,…
PHX Minerals is up 11.4%, or 34c to $3.34.
Fly Intel: After-Hours Movers » 18:3602/1402/14/22
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PHX Minerals reports Q1 EPS 20c, consensus 8c » 16:2202/1402/14/22
Reports Q1 revenue…
Reports Q1 revenue $16.6M, consensus $11.95M. Q1 royalty production volumes increased 23% to 1,225 Mmcfe from 998 Mmcfe in 4Q21 and total production volumes for Q1 decreased 4% to 2,128 Mmcfe from 2,212 Mmcfe in 4Q21. CEO Chad Stephens commented, "As we move into PHX's FY22, you will note our 1Q22 results clearly demonstrate the traction we continue to gain from our mineral acquisition strategy, with royalty volumes increasing and working interest volumes declining. This is a direct result of our previously announced mineral acquisitions and the sale of legacy working interest properties, on which we closed last October and November...These mineral acquisitions provide immediate royalty volumes and cash flow along with an inventory of drilling locations that, as these locations are developed in the near future, will contribute additional growing royalty volumes and cash flow. I would also like to point out that the non-producing locations we have purchased over the last two years are being converted to producing wells at a faster pace than we expected during our underwriting process, which validates our strategy...This dynamic is dramatically highlighted when you consider year-over-year royalty volumes have grown by over 60% and non-operated working interest volumes have declined year-over-year by 33%. We project that royalty volumes will represent more than 75% of overall corporate volumes by the end of FY24 as our inventory of undrilled locations are developed. This will drive better margins, decrease lease operating expense, grow cash flow and generate an attractive return on capital employed".
PHX Minerals files to sell 1.52M shares of Class A common stock for holders 12:3201/1401/14/22
Fly Intel: After-Hours Movers » 18:2512/1312/13/21
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PHX Minerals reports Q4 EPS (14c), consensus 7c » 16:1812/1312/13/21
Reports Q4 revenue…
Reports Q4 revenue $4.07M, consensus $10.4M.