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PHX Minerals Inc. Announces Acquisition in the Haynesville

PHX Minerals Inc. Announces Acquisition in the Haynesville

PHX Minerals Inc. Announces Acquisition in the Haynesville

OKLAHOMA CITY, April 19, 2022 /PRNewswire/ -- PHX Minerals Inc. (NYSE: PHX) ("PHX" or the "Company") today 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 $5,100,000 in cash from a private seller subject to customary closing adjustments (the "Acquisition"). 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, 2022.

Chad Stephens, President, and CEO, commented, “Since January 2020, when I was appointed CEO, we have been pursuing the acquisition of minerals in the Haynesville underneath active reputable operators.

This acquisition is another excellent opportunity to build on our growing inventory of Haynesville minerals assets with existing production and line of sight development over the next several years.

Including this acquisition, we have now acquired approximately 5,000 net royalty acres in the Haynesville deploying an estimated $40.0 million of capital while maintaining a strong balance sheet.

Since January 2020, our focus has been to pursue natural gas assets as we believe it is a key component to the energy transition. The Haynesville is a premier natural gas resource that is at the front door of U.S. LNG export terminals. This will prove to be a vital source in alleviating the energy crisis in Europe, which began well before and has only intensified since the invasion of Ukraine.”

Acquisition Highlights

  • Approximately 506 net royalty acres in Louisiana primarily located in Caddo Parish, focused on the Haynesville and Bossier plays;
  • Includes 28 PDP gross wells, 35 gross wells in progress and an estimated 79 gross undrilled locations;
  • Five drilling rigs currently running on the Acquisition assets with an additional six drilling rigs within 2.5 miles of the Acquisition assets1;
  • Estimated reserves of 4.1 Bcfe;
  • Estimated next 12 months net production totaling between 550 to 650 mcf/d, comprised of 100% natural gas; and
  • Key operators of the Acquisition assets include Trinity, Chesapeake, Blue Dome, and Comstock.



1 As of 4/01/2022

PHX Minerals Inc. (NYSE: PHX) Oklahoma City-based, PHX Minerals Inc. is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core areas of focus. PHX owns approximately 251,000 net mineral acres principally located in Oklahoma, Texas, Louisiana, North Dakota, and Arkansas.  Additional information on the Company can be found at

Cautionary Statement Regarding Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as "anticipates," "plans," "estimates," "believes," "expects," "intends," "will," "should," "may" and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect PHX's current views about future events. Forward-looking statements may include, but are not limited to, statements relating to: PHX’s ability to execute its business strategies; the volatility of realized natural gas and oil prices; the level of production on its properties; estimates of quantities of natural gas, oil and NGL reserves and their values; general economic or industry conditions; legislation or regulatory requirements; conditions of the securities markets; the ability to raise capital; changes in accounting principles, policies or guidelines; financial or political instability; acts of war or terrorism; title defects in the properties in which PHX invests; and other economic, competitive, governmental, regulatory or technical factors affecting our properties, operations or prices. Although the Company believes its expectations reflected in these and other forward-looking statements are reasonable, the Company can give no assurance its expectations will prove to be correct. Such forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These forward-looking statements involve certain risks and uncertainties that could cause the results to differ materially from those expected by the Company's management. Information concerning these risks and other factors can be found in the Company's filings with the Securities and Exchange Commission, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, available on the Company's website or the SEC's website at

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise. 

CONTACT: Chad L. Stephens, 405.948.1560, Website: