In This Story
PHX Minerals Inc. (PHX-0.37%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total revenues of $34,571,064, a decrease from the previous year. This decrease is attributed to lower natural gas, oil, and NGL prices.
The company reported a net income of $2,321,866 for the year, compared to $13,920,800 in the previous year. The decline is primarily due to lower sales and increased expenses.
Operating cash flow for the year was $18,077,853, down from $24,171,139 in the previous year. The decrease is mainly due to reduced sales receipts and increased interest expenses.
Capital expenditures for acquisitions were $7,796,983, a decrease from $29,735,516 in the previous year, reflecting lower acquisition activity.
PHX Minerals reported a total of 49,306,836 Mcf of natural gas reserves and 1,046,903 barrels of oil reserves as of December 31, 2024. The reserves decreased from the previous year due to production and negative revisions.
The company continues to focus on perpetual natural gas and oil mineral ownership, with strategic acquisitions in core focus areas such as the Haynesville Shale and SCOOP play.
PHX Minerals maintains a stable financial position with a credit facility borrowing base of $50,000,000 and outstanding borrowings of $29,500,000 as of December 31, 2024.
The company has implemented a cybersecurity risk management program overseen by the Board, with no significant incidents reported in 2024.
PHX Minerals' executive compensation includes a mix of base salary, annual cash bonuses, and long-term equity-based restricted stock awards, designed to align with company performance and stockholder interests.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PHX Minerals Inc. annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.