Quarterly financial results from PHX Minerals Inc. will be released next month.
The Fort Worth-based company will make known the results on Wednesday May 8 following the close of market. Company leaders plan to hold a conference call to discuss the results at 10 a.m. central time on May 9.
Focusing its efforts on Oklahoma’s SCOOP and the Haynesville play in east Texas, PHX recorded fourth quarter net income of $2.5 million and 7-cents a share and full fiscal year 2023 income of $13.9 million and 39 cents a share. This came as the company also recorded a 6% drop in royalty production numbers for the fiscal fourth quarter from a year earlier. At the same time, PHX saw a 23% increase for the full fiscal year 2023 compared to 2022.
Chad L. Stephens, President and CEO, stated in March he was optimistic that “reduced drilling activity, announced production curtailments and the expansion of LNG export facilities should balance the market and improve commodity prices.”
Over the past year, the company spent more than $30 million acquiring nearly 2,400 net royalty acres in the the SCOOP and Haynesville plays.