PHX Minerals Reports Results for the Quarter Ended March 31, 2025 and Announces Dividend Payment

Financial Performance - The company reported a net income of $4.4 million, or $0.12 per diluted share, for the quarter ended March 31, 2025, compared to a net loss of $(0.2) million, or $(0.01) per diluted share, for the same quarter in 2024 [6][14] - Adjusted EBITDA was $6.2 million, an increase from $4.6 million for the quarter ended March 31, 2024 [6][30] - Total revenue for the quarter was $7.6 million, a decrease from $7.9 million in the same quarter of the previous year [5][25] Sales and Production - Natural gas, oil, and NGL sales increased by $3.3 million, or 47%, compared to the same quarter in 2024, driven by a rise in natural gas prices by 83% and NGL prices by 26% [15][25] - Total production volumes decreased by 9% to 2,159 Mmcfe compared to the previous quarter but increased by 2% compared to the same quarter in 2024 [6][10] - Royalty production volumes decreased by 9% to 1,910 Mmcfe compared to the previous quarter but increased by 3% year-over-year [6][11] Operational Highlights - The company converted 65 gross (0.113 net) wells to producing status during the quarter, compared to 85 gross (0.32 net) wells in the same quarter of 2024 [18][19] - As of March 31, 2025, there were 247 gross (1.017 net) wells in progress and permits, an increase from 225 gross (0.91 net) wells at the end of the previous quarter [19][20] - The company had 18 rigs operating on its acreage as of March 31, 2025 [19][20] Debt and Dividends - Total debt was reduced to $19.8 million, down from $29.5 million at the end of the previous quarter, resulting in a debt-to-adjusted EBITDA ratio of 0.86x [6][31] - The company announced a quarterly dividend of $0.04 per share, payable on June 4, 2025 [6][14] Strategic Developments - The company completed a divestiture of non-producing minerals in January 2025, which contributed to the reduction of debt [4][6] - PHX Minerals entered into a definitive agreement with WhiteHawk Income Corporation for an all-cash acquisition valued at $4.35 per share, totaling approximately $187 million [6][24]