Oklahoma City-based, PHX Minerals Inc. is an oil and natural gas mineral company with a strategy to proactively grow its mineral position in their 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. 

History

• The Company was founded as Panhandle Cooperative Royalty Company in Oklahoma on December 3, 1926.
• The first meeting of the shareholders was held in Range, Oklahoma, located in Texas County in the Oklahoma Panhandle on December 17, 1926.
• Panhandle was formed “for the purpose of conducting a mining business; including buying and selling lands, oil and gas leases and royalties, upon a cooperative plan.”
• Initially the Co-op issued one share of stock, par value $50, for 40 acres of mineral rights in an Oklahoma homesteader’s 160 acre tract.
• While operating as a Co-op, the Company returned most of its income to the shareholders as dividends.
• Panhandle Cooperative Royalty Company was merged into Panhandle Royalty Company in 1979, and its shares were registered with the SEC and traded over-the-counter.
• The Company’s shares have subsequently traded on the NASDAQ, AMEX and currently on the NYSE.
• Upon conversion in 1979, though still paying dividends, the Company began to retain a substantial part of its cash flow to acquire additional mineral acreage and to participate with a working interest in the drilling of wells on its mineral acreage.
• Several acquisitions of additional mineral acreage and small companies were made during the 1980's and 1990's and Wood Oil Company was acquired in 2001.
• On April 2, 2007, the Company’s name was changed to Panhandle Oil and Gas Inc.
• Additional material acquisitions were made in 2011 in the Fayetteville Shale and in 2014 with the purchase of producing properties and leasehold in the Eagle Ford Shale.
• In 2018, Panhandle acquired mineral acreage in the Bakken in North Dakota and STACK and SCOOP plays in Oklahoma.
• Today, Panhandle owns approximately 258,000 acres of perpetual mineral rights in ten states. The Company's proved reserves at September 30, 2019, were 106.4 Bcfe, with 76% being natural gas, 13% oil and 11% natural gas liquids from approximately 6,496 non-operated wells.
• Panhandle Oil & Gas officially changed its name to PHX Minerals Inc. effective Oct. 8, 2020

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