Financial Position - Total current assets decreased from $10,161,577 to $8,205,511, a decline of approximately 19.2% from December 31, 2023 to September 30, 2024[15] - Long-term debt decreased from $32,750,000 to $27,750,000, a reduction of 15.3%[15] - Total liabilities decreased from $43,276,866 to $39,211,242, a decline of approximately 9.6%[15] - Stockholders' equity increased slightly from $123,231,414 to $123,612,869, an increase of about 0.3%[15] - The company reported a net properties and equipment value of $153,521,909 as of September 30, 2024, down from $155,124,483[15] - Total assets decreased from $166.5 billion on December 31, 2023, to $162.8 billion on September 30, 2024, representing a decline of approximately 2.0%[15] - Current assets fell from $10.2 billion to $8.2 billion, a decrease of about 19.4%[15] - Long-term debt reduced from $32.8 billion to $27.8 billion, a decrease of approximately 15.3%[15] - Total liabilities decreased from $43.3 billion to $39.2 billion, a reduction of about 9.5%[15] - Stockholders' equity increased slightly from $123.2 billion to $123.6 billion, an increase of approximately 0.3%[15] - Cash and cash equivalents rose significantly from $806.3 million to $2.6 billion, an increase of approximately 223.5%[15] - The current portion of operating lease liability increased from $233.4 million to $243.2 million, an increase of about 4.0%[15] - Retained earnings decreased from $80.0 billion to $78.5 billion, a decline of approximately 1.9%[15] Revenue and Income - Revenues for the three months ended September 30, 2024, were $9,137,029, a decrease of 0.5% compared to $9,181,545 for the same period in 2023[17] - Natural gas, oil, and NGL sales amounted to $7,888,516 for the three months ended September 30, 2024, down from $8,899,091 in 2023, representing a decline of 11.3%[17] - Net income for the three months ended September 30, 2024, was $1,100,310, a decrease of 42.0% compared to $1,895,403 in the same period of 2023[17] - Basic earnings per share for the three months ended September 30, 2024, were $0.03, down from $0.05 in the same period of 2023[18] - The total net income for the nine months ended September 30, 2024, was $2,212,466, down from $11,407,356 in the same period of 2023[17] - For the nine months ended September 30, 2023, the net income was $9,553,244[21] Expenses and Costs - Total costs and expenses for the three months ended September 30, 2024, were $7,579,464, an increase of 13.1% from $6,697,142 in 2023[17] - Depreciation, depletion, and amortization expenses increased to $2,376,025 for the three months ended September 30, 2024, compared to $2,022,709 in 2023, reflecting a rise of 17.5%[17] - The company reported a provision for income taxes of $457,255 for the three months ended September 30, 2024, compared to $589,000 in 2023[17] - The effective tax rate for the nine months ended September 30, 2024, was 28%, up from 23% for the same period in 2023, primarily due to a decrease in net income and changes in state tax rates[37] Cash Flow and Capital Expenditures - Cash provided by operating activities for the year 2024 (unaudited) was $15,207,852, a decrease from $20,809,684 in 2023[22] - Capital expenditures for the year 2024 (unaudited) were $(64,628), significantly lower than $(321,396) in 2023[22] - The total cash used in investing activities for 2024 (unaudited) was $(4,810,308), compared to $(16,148,489) in 2023[22] - The company had borrowings under the credit facility of $1,000,000 in 2024 (unaudited), down from $16,000,000 in 2023[22] Dividends - The company declared dividends of $0.0400 per share for the period, compared to $0.0225 per share in the same period last year[18] - The company declared dividends of $(50,034) for the nine months ended September 30, 2023[21] - The company declared dividends of $140,300 in 2024 (unaudited), compared to $94,587 in 2023[22] Derivative Contracts and Risk Management - The company has entered into commodity price derivative agreements, including fixed swap contracts and costless collar contracts, to mitigate exposure to price fluctuations[54] - The natural gas costless collars for 2024 have a total volume of 415,000 Mmbtu with a floor price of $3.19 and a ceiling price of $4.84[55] - The company reported a net gain on derivative contracts of $1,089,242 for the three months ended September 30, 2024, compared to a loss of $337,647 in the same period of 2023[57] - The total cash receipts from derivative contracts for the nine months ended September 30, 2024, were $3,786,071, up from $2,282,307 in the same period of 2023, indicating a 65.8% increase[57] - The fair value of derivative contracts measured at fair value on a recurring basis included $466,220 for swaps and $329,033 for collars as of September 30, 2024[61] Acquisitions and Divestitures - The Company acquired 325 net royalty acres for a total purchase price of $3.0 million during the quarter ended September 30, 2024, with a proved/unproved ratio of 78%/22%[49] - The Company reported no significant divestitures for the quarter ended September 30, 2024, but sold 1,005 acres for $0.5 million in June 2024, realizing a gain of $0.4 million[51] Other Financial Metrics - The unrecognized compensation cost for unvested market-based and time-based restricted stock as of September 30, 2024, was $1,674,612[47] - The Company is required to maintain a current ratio of no less than 1.0 to 1.0 and a funded debt to EBITDAX ratio of no more than 3.5 to 1.0[44] - The Company has a $100,000,000 credit facility with a borrowing base of $50,000,000 and an effective interest rate of 8.36% as of September 30, 2024[42]

FORT WORTH, Texas, Nov. 6, 2024 /PRNewswire/ -- PHX MINERALS INC., "PHX" or the "Company" (NYSE: PHX), today reported financial and operating results for the quarter ended Sept. 30, 2024.Summary of Results for the Quarter Ended Sept. 30, 2024 Net income was $1.1 million, or $0.03 per diluted share, compared to net income of $1.3 million, or $0.04 per diluted share, for the quarter ended June 30, 2024, and net income of $1.9 million, or $0.05 per diluted share, for the quarter ended Sept. 30, 2023. Adjusted ...

CALGARY, Alberta, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Third Quarter Highlights Despite the continued softening in the US rig count in the third quarter of 2024, PHX Energy generated consolidated revenue of $160.6 million, only 5 percent lower than the record third quarter consolidated revenue of $169.4 million generated in 2023. Consolidated revenue in the 2024-quarter included $10.2 million of motor rental revenue and $2 million of revenue generated from the sale of motor equipment and parts (2023 - $13.2 m ...

FORT WORTH, Texas, Oct. 23, 2024 /PRNewswire/ -- PHX MINERALS INC., "PHX," (NYSE: PHX), today announced it will release results for the quarter ended Sept. 30, 2024, following the close of market on Wednesday, Nov. 6, 2024.Management will host a conference call to discuss the results at 12 p.m. EST on Nov 7, 2024. 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 an ...

Group 1 - PHX Minerals is currently ranked 16 within the Oils-Energy group, which consists of 246 companies [2] - The Zacks Rank for PHX Minerals is 2 (Buy), indicating a positive outlook based on earnings estimates and revisions [3] - The consensus estimate for PHX's full-year earnings has increased by 42.9% in the past quarter, reflecting improved analyst sentiment [3] Group 2 - Year-to-date, PHX Minerals has returned approximately 5.9%, outperforming the average gain of 1.7% for the Oils-Energy group [4] - In comparison, PNM Resources has a year-to-date return of 3.4% and also holds a Zacks Rank of 2 (Buy) [4][5] - PHX Minerals belongs to the Oil and Gas - Integrated - United States industry, which is currently ranked 168, while the average return for this group is a loss of 8.5% this year [5] Group 3 - PNM Resources is part of the Alternative Energy - Other industry, which has seen a gain of 31.3% this year and is ranked 180 [6] - Both PHX Minerals and PNM Resources are highlighted as stocks to track for continued solid performance in the Oils-Energy sector [6]

CALGARY, Alberta, Sept. 13, 2024 (GLOBE NEWSWIRE) -- PHX Energy Services Corp. ("PHX Energy" or the "Corporation") is pleased to announce that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share designated as an "eligible dividend" within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on October 15, 2024, to shareholders of record at the close of business on September 30, 2024. PHX Energy was recently recognized as a TSX30™ 2024 winner, by the Tor ...

CALGARY, Alberta, Aug. 13, 2024 (GLOBE NEWSWIRE) -- PHX Energy Services Corp. ("PHX Energy" or the "Corporation") (TSX: PHX) today announced that the Toronto Stock Exchange ("TSX") has accepted PHX Energy's notice of intention to renew its normal course issuer bid for a further one-year term (the "NCIB"). The previous NCIB expires on August 15, 2024. Pursuant to the Corporation's previous NCIB, as at August 7, 2024 the Corporation has purchased in the open market through the facilities of the TSX and throug ...

PHX Minerals (PHX) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this oil and gas company would post earnings of $0.04 per share when it actually produced break-even earnings, delivering a surprise of -100%. Over the last four quarters, the com ...

FORT WORTH, Texas, Aug. 7, 2024 /PRNewswire/ -- PHX MINERALS INC., "PHX" or the "Company" (NYSE: PHX), today reported financial and operating results for the quarter ended June 30, 2024. Summary of Results for the Quarter Ended June 30, 2024 Net income was $1.3 million, or $0.04 per diluted share, compared to net loss of ($0.2) million, or ($0.01) per diluted share, for the quarter ended March 31, 2024. Adjusted EBITDA(1) was $6.4 million, compared to $4.6 million for the quarter ended March 31, 2024. Royal ...

CALGARY, Alberta, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Second Quarter Highlights For the three-month period ended June 30, 2024, PHX Energy generated consolidated revenue of $154.2 million, only 1 percent lower than the record second quarter consolidated revenue of $155.6 million generated in 2023. Strong Canadian segment revenue and activity continued which helped partially offset the impact of the lower US rig count on the Corporation's US results. Consolidated revenue in the 2024- quarter included $10 milli ...