After finishing 2024 with its highest total corporation production volumes for a full calendar year since 2019, PHX Minerals Inc. in Fort Worth plans to release its first quarter financial results.
The company, with core production efforts in Oklahoma, Texas, Louisiana, North Dakota and Arkansas, will release the results after the close of markets on Thursday, May 8. Company management plans to hold a conference call the next day, Friday, May 9 at 10a.m. Central Time.
PHX reported net income in the fourth quarter and year ended Dec. 31, 2024 was $0.1 million, or $0.00 per diluted share, and $2.3 million, or $0.06 per diluted share, respectively, compared to net income of $1.1 million, or $0.03 per diluted share, for the quarter ended Sept. 30, 2024, and net income of $13.9 million, or $0.39 per diluted share, for the year ended Dec. 31, 2023.
With an inventory of 255 wells, PHX Minerals also converted 71 gross wells in the fourth quarter compared to 46 wells in the third quarter of 2024. The company also closed on the sale of 165,000 net mineral acres for $8 million.