May Webinar and Luncheon in Houston

May Webinar and Luncheon in Houston

Postby dan_s » Wed Apr 20, 2022 2:33 pm

PHX Minerals (PHX) will be hosting the following events.
> May 12 live webinar at 10AM CT
> May 24 a luncheon in Houston

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 www.phxmin.com.

This is why I want to get PHX on your radar screen.

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 assets;

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 Resources (CRK).
Dan Steffens
Energy Prospectus Group
dan_s
 
Posts: 30137
Joined: Fri Apr 23, 2010 8:22 am

Re: May Webinar and Luncheon in Houston

Postby sl6886 » Thu May 12, 2022 9:05 am

Never mind, I see my error.
sl6886
 
Posts: 112
Joined: Tue Jul 14, 2020 7:57 am


Return to Monthly Webinars and Luncheons

Who is online

Users browsing this forum: No registered users and 2 guests