PHX Minerals Agrees to Mineral and Royalty Acquisition in the Haynesville Play.

MANews-(C)2009-2022

US-based natural gas and oil mineral company PHX Minerals Inc. (NYSE: PHX) has agreed to a mineral and royalty acquisition targeting the Haynesville play in Louisiana, the company said.

PHX has agreed to acquire approximately 477 net royalty acres located in three contiguous sections operated by Chesapeake for aggregate consideration of USD 4.3m in cash from a private seller subject to customary closing adjustments.

The acquisition is in addition to the company's USD 5.1m acquisition in the Haynesville announced on April 19, 2022 and will also be funded with a combination of cash on hand and borrowings under our existing credit facility.

The transaction is...

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