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PHX Minerals Announces Closing of Previously Announced Working Interest Divestiture and Additional Mineral Acquisitions

PR Newswire - Wed Oct 12, 2022

FORT WORTH, Texas, Oct. 12, 2022 /PRNewswire/ -- PHX Minerals Inc., (NYSE: PHX), today announced that it has closed on the previously announced sale of all its remaining legacy non-operated working interest wellbores in the Fayetteville Shale play in Arkansas to an undisclosed buyer for a total of $6,050,000. This divestiture represents 210 gross legacy wellbores and removes approximately $212,000 in asset retirement obligation from the Company's balance sheet. On a pro forma basis, PHX has 789 gross legacy non-operated working interest wellbores remaining.

Read more at prnewswire.com

Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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