PHX Minerals (PHX) - 2023 Q2 - Earnings Call Transcript

In addition to our WIPs, we regularly monitor third-party operator rig activities in our focus areas and observed 26 rigs present on PHX Mineral acreage as of April 10. Additionally, we had 95 rigs active within 2.5 miles of PHX ownership. The number of active rigs on our mineral acreage has actually increased quarter-over-quarter despite the recent decrease in natural gas prices. We believe this is a result of owning minerals in the core of the basins in which we focus with competitive economics across var ...