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PHX Minerals Announces Accretive Acquisitions in Haynesville and SCOOP

PR Newswire - Thu Aug 24, 2023

FORT WORTH, Texas, Aug. 24, 2023 /PRNewswire/ --

Acquisition Highlights

PHX Minerals Inc. (NYSE: PHX) ("PHX" or the "Company") today announced that it has agreed to acquire approximately 988 net royalty acres targeting the Haynesville play in Louisiana and Texas and the SCOOP play in Oklahoma from five separate sellers for aggregate consideration of $13.6 million in cash (the "Acquisitions"), subject to certain closing conditions and adjustments. The Acquisitions will be funded using a combination of cash on hand and borrowings under the Company's existing credit facility and are expected to close in mid-September. The Acquisitions have been unanimously approved by the Board of Directors.

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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