(Energy Analytics Institute, 13.Oct.2020) — Panhandle Oil and Gas Inc. officially changed its name to PHX Minerals Inc. with an effective date of 8 October 2020.
Additionally, and in conjunction with its name change, the company has also announced the unveiling of a new logo. The company’s ticker will remain “PHX” on the NYSE.
“At the beginning of this year, we embarked on a new corporate strategy to become a minerals-only company. This new strategy means we will no longer participate as a non-operated working interest owner in the drilling of new wells,” said Chad L. Stephens, President and CEO in a company statement.
“In our just ended fiscal year 2020, we did not participate as a working interest owner in any wells. As we methodically execute this new strategy by acquiring producing minerals in our core areas with high rock quality and line-of-sight development under credit worthy reputable operators, we will slowly high grade our existing asset base by divesting lower margin properties. This new strategy will emphasize growth on a NAV accretive basis. The name change and new company logo emphasize this new strategy and reflect our commitment of proactive execution,” Stephens said.
By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.