When PHX Minerals Inc. based in Fort Worth, Texas announced its second quarter results in August, it pointed to quarter over quarter increased production from its asset base.
Now the company investors wait to learn if it continued as the firm prepares to release its latest quarterly results on Wednesday, Nov. 6. The release will be made after the close of markets and management will hold a conference call to discuss the results the next day, Thursday, Nov. 7 at 11 a.m. central time.
With mineral acreage principally in Oklahoma, Texas, Louisiana, North Dakota and Arkansas, PHX Minerals recorded net income of $1.3 million or 4 cents a share in the previous quarter. It was a vast improvement over the $200,000 net loss and 1 cent a share in the quarter that ended March 31 of this year.
PHX’s adjusted EBITDA was $6.4 million, better than the $4.6 million in the first quarter of the year. It came as the firm’s royalty production volumes grew by 46%, thanks to high interest high impact wells coming online in the Haynesville.