FORT WORTH, Texas, April 24, 2025 /PRNewswire/ -- PHX MINERALS INC., "PHX," (NYSE: PHX), today announced it will release results for the quarter ended March 31, 2025, following the close of market on Thursday, May 8, 2025.Management will host a conference call to discuss the results at 11 a.m. ET on May 9, 2025. Interested parties may access the conference call by dialing 877-407-3088 (U.S. Toll-Free) or 201-389-0927. A replay of the conference call will be available for 14 days by dialing 877-660-6853 and ...

NYSE: PHX Investor Presentation March 2025 Cautionary Statement Regarding Forward-Looking Statements This presentation is for informational purposes only. This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security of PHX Minerals Inc. ("PHX" or the "Company"). No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption ther ...

Financial Data and Key Metrics Changes - Total production volumes increased approximately 5% year over year, with royalty volume up 8% for the year [3][9] - EBITDA was down slightly year over year, supported by a traditional hedging program [4] - Natural gas, oil, and NGL sales revenues increased 13% to $8.9 million for the quarter, but decreased 8% to $33.7 million for the full year compared to 2023 [17] - Adjusted EBITDA for the quarter was $5.4 million, up from $4.9 million in the previous quarter, while for the full year it was $21.3 million compared to $22.7 million in 2023 [23] Business Line Data and Key Metrics Changes - Royalty production increased 8% to 8,760 million CFE, with quarterly royalty production remaining flat from the previous quarter [10][11] - Oil represented 11% of production volumes, while NGL represented 9% [11] - Total proved reserves decreased 11% to 63.7 BCFE, with improved royalty reserves decreasing 9% to 52.5 BCFE [12] Market Data and Key Metrics Changes - Realized natural gas prices for Q4 2024 averaged $2.64 per Mcf, compared to $2.00 in Q3 2024 [18] - Realized oil prices averaged $69.82, down 7% from the previous quarter, while NGLs averaged $23.01, up 17% [18] - For the full year 2024, natural gas prices averaged $2.19 compared to $2.61 in 2023, and oil averaged $74.59 compared to $76.76 in 2023 [18] Company Strategy and Development Direction - The company is committed to maintaining a strong conservative balance sheet and has applied proceeds from the sale of non-core minerals to reduce debt [6][7] - The company is evaluating strategic alternatives to unlock value, with a focus on high-quality assets and improving financial position [7][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by lower rig counts and reduced industry capex budgets, but expressed optimism about improving natural gas fundamentals [2][3] - The company remains optimistic about prospects for 2025, citing a solid foundation of high-quality assets and a commitment to exploring strategic opportunities [28] Other Important Information - The company sold non-producing minerals for $8 million, which were old legacy assets with no production cash flow [6] - Total debt as of December 31, 2024, was $29.5 million, with a trailing debt to twelve-month adjusted EBITDA of 1.38 times [25] Q&A Session Summary Question: Insights on the strategic alternatives review process - Management stated that they do not comment on ongoing processes [35] Question: Approach to M&A and ground game leasing during the review - Management confirmed that the business continues to operate as usual, with no changes to their approach [37] Question: Production guidance for 2025 - Management indicated that while they are not providing guidance, trends from the past two years suggest a continuation of current production levels [39]

Financial Performance - Net income for the fourth quarter ended Dec. 31, 2024, was $0.1 million, or $0.00 per diluted share, compared to $2.5 million, or $0.07 per diluted share, for the same quarter in 2023[5] - The company recorded a net income of $2.3 million, or $0.06 per diluted share, for the year ended Dec. 31, 2024, a decrease from $13.9 million, or $0.39 per diluted share, for the year ended Dec. 31, 2023[18] - Net income for the year ended December 31, 2024, was $2,321,866, a decrease of 83.3% from $13,920,800 in 2023[40] - The company reported a net income of $109,400 for the three months ended December 31, 2024, compared to $2,513,444 for the same period in 2023[47] - Net income for the TTM ended December 31, 2024, was $2,321,866, a decrease from $13,920,800 for the TTM ended December 31, 2023[51] Revenue and Production - Natural gas, oil, and NGL revenue increased by $0.3 million, or 4%, for the quarter ended Dec. 31, 2024, driven by a 7% increase in natural gas volumes and a 10% increase in oil volumes[15] - Natural gas, oil, and NGL revenue decreased by $2.8 million, or 8%, for the year ended Dec. 31, 2024, due to a 16% decrease in natural gas prices and a 3% decrease in oil prices[19] - Revenues for the three months ended December 31, 2024, were $8,885,922, compared to $8,548,783 for the same period in 2023, representing an increase of 3.9%[36] - Total production volumes for the year ended Dec. 31, 2024, increased by 5% to 9,841 Mmcfe compared to the year ended Dec. 31, 2023[5] - Royalty production volumes for the year ended Dec. 31, 2024, increased by 8% to 8,760 Mmcfe compared to the year ended Dec. 31, 2023[5] Adjusted EBITDA - Adjusted EBITDA for the fourth quarter ended Dec. 31, 2024, was $5.4 million, compared to $4.9 million for the quarter ended Sept. 30, 2024, and $22.7 million for the year ended Dec. 31, 2023[5] - Adjusted EBITDA for the three months ended December 31, 2024, was $5,385,515, an increase from $4,504,288 in the previous year[47] - Adjusted EBITDA for the TTM ended December 31, 2024, was $21,324,050, compared to $22,652,263 for the TTM ended December 31, 2023, reflecting a decline of approximately 5.8%[51] Debt and Liabilities - Total debt was $29.5 million at Dec. 31, 2024, down $3.25 million since Dec. 31, 2023, with a debt-to-adjusted EBITDA ratio of 1.38x[5] - The company's total debt decreased from $32,750,000 in 2023 to $29,500,000 in 2024, resulting in a debt-to-adjusted EBITDA (TTM) ratio of 1.38, down from 1.45[51] - Long-term debt decreased to $29,500,000 as of December 31, 2024, from $32,750,000 in 2023, a reduction of 6.9%[38] - Total liabilities decreased to $41,965,913 as of December 31, 2024, from $43,276,866 in 2023, a decline of 3.0%[38] Assets and Equity - Total current assets decreased to $9,556,933 as of December 31, 2024, from $10,161,577 in 2023, a decline of 6.0%[38] - Cash and cash equivalents increased to $2,242,102 as of December 31, 2024, from $806,254 in 2023, a growth of 177.5%[40] - Total stockholders' equity decreased to $121,949,853 as of December 31, 2024, from $123,231,414 in 2023, a decline of 1.0%[38] Capital Expenditures and Dividends - Capital expenditures for the year ended December 31, 2024, were $87,579, significantly lower than $325,983 in 2023[40] - The company paid dividends of $5,229,547 in 2024, compared to $3,520,366 in 2023, an increase of 48.6%[40] - The company announced a quarterly dividend of $0.04 per share, payable on Mar. 28, 2025[5] Operational Highlights - The company converted 71 gross (0.22 net) wells to producing status in the fourth quarter ended Dec. 31, 2024, compared to 46 gross (0.18 net) wells in the previous quarter[5] - The percentage of total production volumes attributable to natural gas was 80% for the quarter ended Dec. 31, 2024[11] - The company converted 71 gross (0.22 net) wells to producing status during the quarter ended Dec. 31, 2024, compared to 46 gross (0.10 net) wells in the same quarter of 2023[22] - The company purchased 363 net royalty acres for approximately $2.5 million during the quarter ended Dec. 31, 2024[26] - The company leased 265 net mineral acres to third-party exploration and production companies for an average bonus payment of $760 per net mineral acre during the quarter ended Dec. 31, 2024[25] Market and Future Outlook - Forward-looking statements indicate the company anticipates challenges related to oil and natural gas price volatility and production levels[53] - The company does not guarantee future performance based on forward-looking statements, which are subject to various risks and uncertainties[54] - The company continues to focus on expanding its mineral position in core areas, including Oklahoma, Texas, Louisiana, North Dakota, and Arkansas[51] Derivative Contracts - The company has a total of 1,000 Bbls of oil fixed price swaps at $68.80 for the period from December 2024 to August 2025[43] - The company has contracted 100,000 Mmbtu of natural gas at a fixed price of $3.50 floor and $4.85 ceiling for the period from November 2025 to March 2026[42] - The company has a natural gas costless collar with a contract price of $3.00 floor and $5.00 ceiling for 30,000 Mmbtu per month from January to June 2025[42] - The company has a total of 125,000 Mmbtu of natural gas fixed price swaps at $3.01 for the period from April to August 2025[42] Expenses - The company incurred an interest expense of $573,920 for the three months ended December 31, 2024[47] - Interest expense increased slightly from $2,362,393 in 2023 to $2,563,268 in 2024[51] - Depreciation, depletion, and amortization (DD&A) rose from $8,566,185 in 2023 to $9,606,444 in 2024, an increase of approximately 12.1%[51] - The company had a net gain on derivative contracts of $0.3 million for the year ended Dec. 31, 2024, compared to a net gain of $6.9 million for the year ended Dec. 31, 2023[21] - Non-cash losses on derivatives for the TTM ended December 31, 2024, were $(3,997,995), contrasting with gains of $4,302,531 in 2023[51]

Washington, D.C. 20549 FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended DECEMBER 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-31759 PHX MINERALS INC. (Exact name of Registrant as specified in its Charter) DELAWARE 73-1055775 (State or other jurisdiction of in ...

Core Insights - PHX Minerals Inc. reported solid financial and operational results for 2024, achieving the highest total corporate production volumes since 2019 and two record quarters for royalty production volumes [4][18]. Financial Highlights - For the fourth quarter of 2024, net income was $0.1 million, or $0.00 per diluted share, compared to $2.5 million, or $0.07 per diluted share, for the same quarter in 2023 [14]. - Adjusted EBITDA for the fourth quarter was $5.4 million, up from $4.9 million in the previous quarter but down from $22.7 million for the year ended December 31, 2023 [7]. - Total revenue for the fourth quarter was $8.0 million, a decrease from $11.8 million in the same quarter of 2023 [38]. - Natural gas, oil, and NGL sales increased by $0.3 million, or 4%, for the fourth quarter compared to the same quarter in 2023, driven by a 7% increase in natural gas volumes and a 10% increase in oil volumes [15]. Production and Operational Highlights - Royalty production volumes for the fourth quarter remained flat at 2,096 Mmcfe compared to the previous quarter, but increased by 8% to 8,760 Mmcfe for the year [7]. - Total production volumes for the fourth quarter were 2,379 Mmcfe, unchanged from the previous quarter, and increased by 5% to 9,841 Mmcfe for the year [7]. - The company converted 71 gross (0.22 net) wells to producing status in the fourth quarter, compared to 46 gross (0.10 net) wells in the same quarter of 2023 [22]. Reserves and Acquisitions - Proved royalty reserves decreased by 9% to 52.5 Bcfe as of December 31, 2024, compared to 57.8 Bcfe at the end of 2023 [29]. - The company purchased 363 net royalty acres for approximately $2.5 million during the fourth quarter [27]. Debt and Cash Flow - Total debt was $29.5 million at December 31, 2024, down from $32.8 million at the end of 2023, with a debt-to-adjusted EBITDA ratio of 1.38x [7][39]. - Cash flow from operations for the year was $18.1 million, down from $24.2 million in 2023 [40]. Strategic Initiatives - The company is evaluating strategic alternatives to maximize stockholder value in collaboration with RBC [4].

Company Overview - PHX Minerals Inc. is a natural gas and oil mineral company focused on proactively growing its mineral position in core areas [3] - The company owns mineral acreage primarily located in Oklahoma, Texas, Louisiana, North Dakota, and Arkansas [3] Upcoming Financial Results - PHX Minerals will release its financial results for the year ended December 31, 2024, after the market closes on March 12, 2025 [1] - A conference call to discuss the results will be held on March 13, 2025, at 11 a.m. ET [2] Access to Conference Call - Interested parties can join the conference call by dialing 877-407-3088 (U.S. Toll-Free) or 201-389-0927 [2] - A replay of the conference call will be available for 14 days using the access code 13751358 [2] - A live audio webcast of the conference call will be accessible from the "Investors" section of the PHX website and archived for at least 90 days [2]

CALGARY, Alberta, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Fourth Quarter Highlights For the three-month period ended December 31, 2024, PHX Energy generated consolidated revenue of $178.7 million, the highest level of fourth quarter revenue on record and the highest level of quarterly revenue in the Corporation’s history. Consolidated revenue in the 2024-quarter included $10 million of motor rental revenue and $5.3 million of revenue generated from the sale of motor equipment and parts (2023 - $10.3 million and ...

Core Viewpoint - PHX Energy Services Corp. is undergoing a leadership transition with John Hooks moving to Executive Board Chair and Michael Buker appointed as the new CEO effective March 1, 2025, as part of a long-term succession plan to ensure continuity in business strategy and operations [1][2][3] Leadership Transition - John Hooks, the founder and current CEO, will transition to Executive Board Chair, continuing to provide mentorship and guidance to the executive team [1][3] - Michael Buker, who has been with the Corporation since 1998 and has served as President, will take over as CEO and is expected to be nominated for election to the Board at the next Annual General Meeting [1][2] Executive Team Changes - Alongside the CEO transition, Jeffery Shafer has been promoted to Chief Operating Officer and Craig Brown to Chief Technology Officer, both of whom have extensive experience within the Corporation [4][5] - The new executive team will focus on operational growth, business development, and technology strategies to maintain the Corporation's market position [4][6] Company Background - PHX Energy Services Corp. specializes in providing horizontal and directional drilling technology and services primarily in Canada and the US, and is recognized as the largest independent directional drilling company in North America [7]

FORT WORTH, Texas, Dec. 12, 2024 /PRNewswire/ -- PHX MINERALS INC., "PHX" or the "Company" (NYSE: PHX), today announced that its Board of Directors (the "Board") has agreed to initiate a process to evaluate certain strategic alternatives to maximize shareholder value, including a potential merger or sale of the Company. RBC Capital Markets, LLC has been retained as financial advisor to assist in the review process.About PHX Minerals Inc. PHX Minerals Inc. is a natural gas and oil mineral company with a stra ...