PHX - PHX Minerals Non-GAAP EPS of $0.07 misses by $0.03 revenue of $18.27M beats by $4.1M

February, 08 2023 04:18 PM Panhandle Oil and Gas Inc

PHX Minerals press release ( NYSE: PHX ): Q1 Non-GAAP EPS of $0.07 misses by $0.03 .
Revenue of $18.27M (+10.0% Y/Y) beats by $4.1M .
Adjusted EBITDA for the quarter ended Dec. 31, 2022, was $5.3 million, compared to $8.4 million for the quarter ended Sept. 30, 2022, and $4.4 million for the quarter ended Dec. 31, 2021.
Royalty production volumes for the quarter ended Dec. 31, 2022, decreased 12% to 1,628 Mmcfe compared to the quarter ended Sept. 30, 2022, and increased 33% compared to the quarter ended Dec. 31, 2021.
Total production volumes for the quarter ended Dec. 31, 2022, decreased 15% to 2,215 Mmcfe compared to the quarter ended Sept. 30, 2022, and increased 4% compared to the quarter ended Dec. 31, 2021.
Converted 60 gross (0.27 net) wells to producing status during the quarter ended Dec. 31, 2022, compared to 49 gross (0.22 net) during the quarter ended Sept. 30, 2022.
Inventory of 203 gross (0.83 net) wells in progress as of Dec. 31, 2022, compared to 172 gross (0.85 net) as of Sept. 30, 2022.
Total debt was $33.3 million and the debt to adjusted EBITDA ( TTM ) ratio was 1.25x at Dec. 31, 2022.
During the quarter ended Dec. 31, 2022, PHX closed on acquisitions totaling 1,256 net royalty acres located in the SCOOP and the Haynesville plays for approximately $14.7 million.

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