PHX - PANHANDLE OIL AND GAS INC. Changes Its Name To PHX Minerals Inc.

PR Newswire

OKLAHOMA CITY, Oct. 13, 2020

OKLAHOMA CITY , Oct. 13, 2020 /PRNewswire/ -- PANHANDLE OIL AND GAS INC., "Panhandle," "PHX" or the "Company," (NYSE: PHX), today announced that it has officially changed its name to PHX Minerals Inc. effective Oct. 8, 2020 . In conjunction with its name change the Company has also unveiled a new logo. The Company's ticker will remain "PHX" on the NYSE.

Chad L. Stephens , President and CEO, commented, "At the beginning of this year, we embarked on a new corporate strategy to become a minerals-only company. This new strategy means we will no longer participate as a non-operated working interest owner in the drilling of new wells. In our just ended fiscal year 2020, we did not participate as a working interest owner in any wells. As we methodically execute this new strategy by acquiring producing minerals in our core areas with high rock quality and line-of-sight development under credit worthy reputable operators, we will slowly high grade our existing asset base by divesting lower margin properties. This new strategy will emphasize growth on a NAV accretive basis. The name change and new Company logo emphasize this new strategy and reflect our commitment of proactive execution."

PHX Minerals Inc. (NYSE: PHX) Oklahoma City-based, PHX Minerals Inc. is an oil and natural gas mineral company with a strategy to proactively grow its mineral position in our core areas of focus. PHX owns approximately 253,000 net mineral acres principally located in Oklahoma , North Dakota , Texas , New Mexico and Arkansas . Approximately 71% of this mineral count is unleased and undeveloped. Additional information on the Company can be found at www.phxmin.com .

SOURCE PANHANDLE OIL AND GAS INC.