FORT WORTH, Texas, Would possibly 8, 2025 /PRNewswire/ — PHX MINERALS INC., “PHX” or the “Company” (NYSE: PHX), these days reported monetary and working effects for the quarter ended March 31, 2025.

Abstract of Effects for the Quarter Ended March 31, 2025

• Internet source of revenue was once $4.4 million, or $0.12 in line with diluted proportion, in comparison to internet source of revenue of $0.1 million, or $0.00 in line with diluted proportion, for the quarter ended Dec. 31, 2024, and internet lack of ($0.2) million, or ($0.01) in line with diluted proportion, for the quarter ended March 31, 2024.
• Adjusted EBITDA⁽¹⁾ was once $6.2 million, in comparison to $5.4 million for the quarter ended Dec. 31, 2024 and $4.6 million for the quarter ended March 31, 2024.
• Royalty manufacturing volumes diminished 9% to at least one,910 Mmcfe in comparison to the quarter ended Dec. 31, 2024, and greater 3% in comparison to the quarter ended March 31, 2024.
• Overall manufacturing volumes diminished 9% to two,159 Mmcfe in comparison to the quarter ended Dec. 31, 2024, and greater 2% in comparison to the quarter ended March 31, 2024.
• Transformed 65 rude (0.113 internet) wells to generating condition, in comparison to a conversion of 71 rude (0.22 internet) wells to generating condition all over the quarter ended Dec. 31, 2024 and 85 rude (0.32 internet) all over the quarter ended March 31, 2024.
• Stock of 247 rude (1.017 internet) wells in walk and allows as of March 31, 2025, in comparison to 225 rude (0.91 internet) wells in walk and allows as of Dec. 31, 2024 and 230 rude (1.099 internet) wells in walk and allows as of March 31, 2024.
• Overall debt was once $19.8 million, ailing $9.8 million since Dec. 31, 2024, and the debt-to-adjusted EBITDA (TTM) ⁽¹⁾ ratio was once 0.86x at March 31, 2025.

Next Occasions

• PHX introduced a $0.04 in line with proportion quarterly dividend, payable on June 4, 2025, to stockholders of report on Would possibly 20, 2025.
• In a independent press let go additionally issued these days, WhiteHawk Source of revenue Company (in conjunction with WhiteHawk Power, LLC and their respective subsidiaries, “WhiteHawk”) and PHX introduced that they’ve entered right into a definitive word of honour underneath which WhiteHawk will gain PHX in an all-cash transaction that values PHX at $4.35 in line with proportion, or overall price of roughly $187 million, together with PHX’s internet debt. The joint press let go pronouncing the transaction is to be had at https://phxmin.com/news/press-releases.
• In shiny of the pending all-cash transaction with WhiteHawk, PHX is canceling its in the past scheduled quarterly convention name to speak about the Corporate’s effects for the quarter ended March 31, 2025.

Chad L. Stephens, President and CEO, commented,”PHX had a strong start to 2025, delivering solid cash flow and adjusted EBITDA on both a sequential and year-over-year basis.  The closing of our recent divestiture of non-producing minerals in January, along with strong cash generation, enabled us to further reduce our debt to $19.8 million as of March 31, 2025, resulting in a debt-to-adjusted EBITDA (TTM) ratio under 1x. A strong and flexible balance sheet continues to be an important part of our strategy.”

“The natural gas environment showed meaningful improvement during the first quarter driven by tightening supply-demand dynamics, colder-than-expected winter weather, and increasing liquefied natural gas (LNG) export demand. This backdrop is translating into heightened operator activity across our mineral acreage as demonstrated by a higher gross and net number of wells in progress as of the quarter end. We expect this trend to continue throughout 2025 and into 2026, supporting the increased production volumes and enhanced cash flow from our assets.”

Overall Manufacturing for the utmost 5 quarters was once as follows:

The share of overall manufacturing volumes resulting from herbal fuel was once 80% for the quarter ended March 31, 2025.

Royalty Pastime Manufacturing for the utmost 5 quarters was once as follows:

The share of royalty manufacturing volumes resulting from herbal fuel was once 82% for the quarter ended March 31, 2025.

Operating Pastime Manufacturing for the utmost 5 quarters was once as follows:

Quarter Ended March 31, 2025 Effects

The Corporate recorded internet source of revenue of $4.4 million, or $0.12 in line with diluted proportion, for the quarter ended March 31, 2025, as in comparison to internet lack of $(0.2) million, or $(0.01) in line with diluted proportion, for the quarter ended March 31, 2024. The alternate in internet source of revenue was once mainly the results of an build up in herbal fuel, oil and NGL gross sales and an build up in acquire on asset gross sales, in part offset by means of an build up in losses related to by-product pledges, an build up basically and administrative bills, and an build up in transportation, collecting and advertising bills.

Herbal fuel, oil and NGL income greater $3.3 million, or 47%, for the quarter ended March 31, 2025, in comparison to the quarter ended March 31, 2024, because of will increase in herbal fuel and NGL costs of 83% and 26%, respectively, and will increase in herbal fuel and oil volumes of two% and 14%, respectively, in part offset by means of a scale down in oil worth of seven% and a scale down in NGL volumes of 9%.

The rise in royalty manufacturing volumes all over the quarter ended March 31, 2025, as in comparison to the quarter ended March 31, 2024, resulted basically from pristine wells being introduced on-line within the Haynesville Shale and SCOOP performs.

The Corporate had a internet loss on by-product pledges of ($3.2) million for the quarter ended March 31, 2025, constituted of a ($0.2) million loss on settled derivatives and a ($2.9) million non-cash loss on derivatives, as in comparison to a internet acquire of $0.6 million for the quarter ended March 31, 2024. The alternate in internet acquire (loss) on by-product pledges was once because of the Corporate’s settlements of herbal fuel and oil collars and stuck worth swaps and the alternate in valuation brought about by means of the extra in March 31, 2025 pricing relative to the hit worth on unhidden by-product pledges.

Operations Replace

All the way through the quarter ended March 31, 2025, the Corporate transformed 65 rude (0.113 internet) wells to generating condition, together with 5 rude (0.009 internet) wells within the Haynesville and 26 rude (0.036 internet) wells within the SCOOP, in comparison to 85 rude (0.32 internet) wells transformed within the quarter ended March 31, 2024.

At March 31, 2025, the Corporate had a complete of 247 rude (1.017 internet) wells in walk and allows throughout its mineral positions, in comparison to 225 rude (0.91 internet) wells in walk and allows at Dec 31, 2024. As of March 31, 2025, 18 rigs had been working at the Corporate’s acreage and 70 rigs had been working inside of 2.5 miles of its acreage.

Leasing Process

All the way through the quarter ended March 31, 2025, the Corporate hired 397 internet mineral acres to third-party exploration and manufacturing firms for a mean bonus cost of $911 in line with internet mineral acre and a mean royalty of 25%.

Acquisition and Divestiture Replace

All the way through the quarter ended March 31, 2025, the Corporate bought 50 internet royalty acres for about $0.6 million and offered 165,326 acres, that have been outdoor the Corporate’s core focal point farmlands and predominately undeveloped and unleased, for about $7.9 million.

Quarterly Convention Name

In shiny of the pending all-cash transaction with WhiteHawk, PHX is canceling its in the past scheduled quarterly convention name to speak about the Corporate’s effects for the quarter ended March 31, 2025.

Non-GAAP Reconciliation

This press let go comprises positive “non-GAAP financial measures” as outlined underneath the foundations and rules of the U.S. Securities and Alternate Fee, or the SEC, together with Legislation G. Those non-GAAP monetary measures are calculated the usage of GAAP quantities within the Corporate’s monetary statements. Those measures, evocative underneath, are supplied along with, now not as an extra for, and will have to be learn along side, the ideas contained within the Corporate’s monetary statements ready in line with GAAP (together with the notes thereto), integrated within the Corporate’s SEC filings and posted on its web page.

Adjusted EBITDA Reconciliation 

The Corporate defines “adjusted EBITDA” as profits earlier than passion, taxes, depreciation and amortization, or EBITDA, aside from non-cash good points (losses) on derivatives and good points (losses) on asset gross sales, however together with coins receipts from (bills on) off-market derivatives, and additional aside from skilled charges related to introduced strategic choices procedure and limited secure and deferred administrators’ expense. In prior releases, the Corporate usually has now not excluded skilled charges in defining adjusted EBITDA, however has excluded skilled charges related to the introduced strategic choices procedure in defining adjusted EBITDA on this press let go because the Corporate believes aside from those explicit charges within the presentation of adjusted EBITDA is also helpful to traders of their analysis of the Corporate’s monetary efficiency. The Corporate has integrated a presentation of adjusted EBITDA as it appreciates that positive traders imagine this quantity to be an invaluable way of measuring the Corporate’s skill to satisfy its debt provider tasks and comparing its monetary efficiency. Adjusted EBITDA has boundaries and will have to now not be thought to be in isolation or as an alternative to internet source of revenue, working source of revenue, coins wave from operations or alternative consolidated source of revenue or coins wave information ready in line with GAAP. As a result of now not all firms worth an identical calculations, this presentation of adjusted EBITDA is probably not similar to a in a similar fashion titled measure of alternative firms. Refer to desk supplies a reconciliation of internet source of revenue (loss) to adjusted EBITDA for the quarters indicated:

Debt-to-Adjusted EBITDA (TTM) Reconciliation 

“Debt-to-adjusted EBITDA (TTM)” is outlined because the ratio of long-term debt to adjusted EBITDA on a trailing 12-month (TTM) foundation. The Corporate has integrated a presentation of debt-to-adjusted EBITDA (TTM) as it appreciates that positive traders imagine such ratios to be an invaluable way of measuring the Corporate’s skill to satisfy its debt provider tasks and for comparing its monetary efficiency. The debt-to-adjusted EBITDA (TTM) ratio has boundaries and will have to now not be thought to be in isolation or as an alternative to internet source of revenue, working source of revenue, coins wave from operations or alternative consolidated source of revenue or coins wave information ready in line with GAAP. As a result of now not all firms worth an identical calculations, this presentation of debt-to-adjusted EBITDA (TTM) is probably not similar to a in a similar fashion titled measure of alternative firms. Refer to desk supplies a reconciliation of internet source of revenue (loss) to adjusted EBITDA on a TTM foundation and of the ensuing debt-to-adjusted EBITDA (TTM) ratio:

PHX Minerals Inc. Fortress Significance-based, PHX Minerals Inc. is a herbal fuel and oil mineral corporate with a approach to proactively develop its mineral place in its core focal point farmlands. PHX owns mineral acreage mainly situated in Oklahoma, Texas, Louisiana, North Dakota and Arkansas. Backup details about the Corporate can also be discovered at www.phxmin.com.

Cautionary Commentary Relating to Ahead-Taking a look Statements

This press let go comprises “forward-looking statements” throughout the that means of Division 27A of the Securities Operate of 1933, as amended, and Division 21E of the Securities Alternate Operate of 1934, as amended. Phrases equivalent to “anticipates,” “plans,” “estimates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and related expressions is also old to spot forward-looking statements. Ahead-looking statements aren’t statements of historic truth and mirror PHX’s latest perspectives about presen occasions. Ahead-looking statements might come with, however aren’t restricted to, statements in relation to: the Corporate’s operational outlook; the Corporate’s skill to kill its industry methods; the volatility of learned herbal fuel and oil costs; the extent of manufacturing at the Corporate’s homes; estimates of amounts of herbal fuel, oil and NGL reserves and their values; common financial or trade statuses; law or regulatory necessities; statuses of the securities markets; the Corporate’s skill to lift capital; adjustments in accounting ideas, insurance policies or pointers; monetary or political instability; acts of struggle or terrorism; identify defects within the homes wherein the Corporate invests; the transaction with WhiteHawk; and alternative financial, aggressive, governmental, regulatory or technical components affecting homes, operations or costs. Even though the Corporate believes expectancies mirrored in those and alternative forward-looking statements are cheap, the Corporate may give deny agreement such expectancies will end up to be proper. Such forward-looking statements are matter to numerous suppositions, dangers and uncertainties, lots of that are past the keep watch over of the Corporate. Those forward-looking statements contain positive dangers and uncertainties that would reason effects to range materially from the ones anticipated by means of the Corporate’s control. Data relating to those dangers and alternative components can also be discovered within the Corporate’s filings with the SEC, together with its Annual Studies on Method 10-Ok and Quarterly Studies on Method 10-Q, to be had at the Corporate’s web page or the SEC’s web page at www.sec.gov.

Buyers are cautioned that one of these forward-looking statements aren’t promises of presen efficiency and that original effects or trends might range materially from the ones projected. The forward-looking statements on this press let go are made as of the day hereof, and the Corporate does now not adopt any legal responsibility to replace the forward-looking statements because of pristine data, presen occasions or in a different way.

Investor Touch:
Rob Fink / Stephen Lee
FNK IR
646.809.4048
[email protected]

Company Touch:
405.948.1560
[email protected]

SOURCE PHX Minerals Inc.