PHX - PHX Minerals expands presence in Haynesville for natural gas production

PHX Minerals (NYSE:PHX) on Friday has announced a $4.3M mineral and royalty acquisition targeting the Haynesville play in Louisiana.  In the all-cash deal, the company has agreed to acquire approximately 477 net royalty acres located in three contiguous sections, operated by Chesapeake, from a private seller. The acquisition assets have an estimated net reserves of 3.0 Bcf natural gas with net production expected to range between 350 to 450 mcf/d in the next 12 months. Closing of the transaction is expected by May 13, 2022. It adds up to PHX $5.1M acquisition in Haynesville announced last week. Stock is up 3% in after-hours trading. Earlier in the day: Energy markets take no prisoners - stocks down 5-10% across all energy subsectors

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PHX Minerals expands presence in Haynesville for natural gas production