2 Sept 2020director interest notice● Neutral
PHX MINERALS INC. director Mark T Behrman bought 30,000 shares on the open market at $1.63.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Sept 2020director interest notice● Neutral
PHX MINERALS INC. Chief Executive Officer Chad L Stephens bought 75,000 shares on the open market at $1.63.
2 Sept 2020director interest notice● Neutral
PHX MINERALS INC. director Christopher T. Fraser bought 100,000 shares on the open market at $1.63.
1 Sept 2020director interest notice● Neutral
Edenbrook Capital, LLC became a PHX MINERALS INC. 10%+ owner and company insider (initial ownership filing).
1 Sept 2020substantial holder notice● Neutral
Edenbrook Capital, LLC, Jonathan Brolin reported a PHX MINERALS INC. shareholding of 2,610,602 shares (12.20% of votes) in a periodic institutional filing.
1 Sept 2020securities registration● Neutral
Panhandle priced a 5,000,000-share common stock offering at $1.63 per share, raising $8.15 million before expenses ($7.58 million after underwriting discounts). Proceeds were to fund pending acquisitions and general corporate purposes, with delivery expected around September 1, 2020.
1 Sept 2020material agreement● NeutralMajor
The company priced the underwritten stock offering announced alongside the Red Stone deal: 5,000,000 shares at $1.63 each, with Stifel as underwriter. On August 31 the underwriters bought the extra 750,000 shares in full, bringing estimated net proceeds to about $8.32 million. The money is meant to fund the cash portion of the Red Stone purchases, related fees and general corporate purposes, and the offering is not conditional on those purchases closing. For shareholders, this resolves the funding question from the Red Stone deal but means new shares were issued.
27 Aug 2020material agreement▲ GoodMajor
On August 24, 2020 the company agreed to buy mineral and royalty assets from Red Stone Resources, LLC: Grady County, Oklahoma for $2.4 million and East Texas (Harrison, Nacogdoches, Panola) for about $4.53 million. The total is about $6.9 million, of which about $0.5 million is paid in company stock. The assets are about 795 net royalty acres in the SCOOP and Haynesville plays, and the company says the cash portion is to be raised through an underwritten public stock offering announced at the same time. Initial closings are expected in early October, subject to conditions and price adjustments. This is the company's first Haynesville entry and, as the first purchase after the June 2020 credit cut, is a return to buying minerals.
27 Aug 2020securities registration● Neutral
PHX MINERALS INC. filed a free-writing prospectus - marketing material for an offering in progress.
27 Aug 2020securities registration● Neutral
PHX MINERALS INC. filed a prospectus supplement for an offering off its existing shelf.
14 Aug 2020quarterly activities report▼ Bad
PHX MINERALS INC. reported quarterly revenue of $2.7 million and a net loss of $3.6 million for the period ended 2020-06-30.
13 Aug 2020quarterly activities report▼ Bad
PHX MINERALS INC. reported quarterly revenue of $2.7 million and a net loss of $3.6 million for the period ended 2020-06-30.
29 July 2020financial restatement▼ BadMajor
The company said its March 31, 2020 quarterly financials should no longer be relied on. Revenue was overstated by about $705,000 because ownership interests in three wells were wrongly identified. The filing also reports a material weakness in internal controls over revenue accruals. It says cash flow, debt and cash balances were not affected. The company will restate the 10-Q and plans fixes before its June 2020 quarter 10-Q, expected August 13, 2020.
29 July 2020quarterly activities report▼ Bad
Panhandle filed a 10-Q/A restating its March 31, 2020 quarter after finding about $705,000 of overstated revenue from errors in well ownership interests. The restatement cut quarterly revenue to about $11.3 million and raised the net loss to about $20.5 million.
10 July 2020substantial holder notice● Neutral
BlackRock, Inc reported a PHX MINERALS INC. shareholding of 443,270 shares (2.70% of votes) in a periodic institutional filing.
25 June 2020debt financing▼ BadMajor
On June 24, 2020 the company signed a seventh amendment to its credit facility with Bank of Oklahoma, cutting the borrowing base to $32.0 million from $80 million. The base then falls by $1.0 million each quarter starting July 15, 2020. Cash above $2.0 million for more than seven days must go to repay debt, hedges are required for 18 months, restricted payments are capped at $1.0 million for one year, and loan margins rise. The press release gives net debt of $27.7 million ($30 million debt, $2.3 million cash) as of June 23, 2020, and says the company is exploring sales of certain assets.
11 May 2020director interest notice● Neutral
PHX MINERALS INC. VP - CFO Raphael D'amico bought 5,000 shares on the open market at $4.15.
8 May 2020quarterly activities report▼ Bad
Panhandle reported a second-quarter net loss of $20.0 million ($1.21 per share) on revenue of $12.1 million, including a $29.5 million non-cash impairment. It also cut its quarterly dividend to one cent per share.
7 May 2020quarterly activities report▼ Bad
Panhandle Oil and Gas reported total revenue of $12.1 million and a net loss of $20.0 million ($1.21 per share) for the quarter ended March 31, 2020. The loss included a $29.5 million non-cash impairment.
23 Apr 2020director interest notice● Neutral
PHX MINERALS INC. VP - CFO Raphael D'amico acquired 21,408 shares at $0.02 under a company stock plan.
27 Feb 2020substantial holder notice● Neutral
Edenbrook Capital, LLC, Jonathan Brolin disclosed a new substantial PHX MINERALS INC. shareholding (5.50% of votes).
14 Feb 2020substantial holder notice● Neutral
T. Rowe Price Associates filed an amended Schedule 13G showing it held 789,394 shares (4.8%) at Dec. 31, 2019, meaning it had fallen below the 5% reporting threshold.
13 Feb 2020substantial holder notice● Neutral
Trigran Investments, L.P reported a PHX MINERALS INC. shareholding of 828,368 shares (5.10% of votes) in a periodic institutional filing.
12 Feb 2020substantial holder notice● Neutral
Trigran Investments, Inc, Douglas Granat, Lawrence A. Oberman, Steven G. Simon, Bradley F. Simon, Steven R. Monieson reported a PHX MINERALS INC. shareholding of 2,395,028 shares (14.70% of votes) in a periodic institutional filing.
12 Feb 2020substantial holder notice● Neutral
Trigran Investments, L.P disclosed a new substantial PHX MINERALS INC. shareholding (5.10% of votes).
11 Feb 2020quarterly activities report● Neutral
PHX reported first-quarter fiscal 2020 (to Dec. 31, 2019) total revenue of $10.6 million and net income of $1.9 million, down from $12.7 million a year earlier, as production fell 18% and prices fell.
5 Feb 2020quarterly activities report● Neutral
PHX Minerals reported total revenue of $10.6 million and net income of $1.9 million for the quarter ended 31 December 2019. Oil, NGL and natural gas sales were $7.6 million, down from $12.2 million a year earlier.
5 Feb 2020substantial holder notice● Neutral
BlackRock, Inc reported a PHX MINERALS INC. shareholding of 1,189,996 shares (7.30% of votes) in a periodic institutional filing.
8 Aug 2019quarterly activities report● Neutral
PHX MINERALS INC. reported quarterly revenue of $16.3 million and net income of $4.6 million for the period ended 2019-06-30.
9 May 2019quarterly activities report▼ Bad
PHX MINERALS INC. reported quarterly revenue of $7.6 million and a net loss of $1.9 million for the period ended 2019-03-31.