PHX Minerals up on deal to sell some assets for $10.7 mln

PHX Minerals

27/12/2022 14:51

** Shares of natural gas focused company PHX Minerals Inc
 PHX.N  rise 1.25% to $4.02
    ** PHX to sell 257 non-operated legacy working interest
wellbores for $10.7 million, in two separate deals  urn:newsml:reuters.com:*:nPn1YdDf2a
    ** PHX intends to use the proceeds from these divestitures
to acquire additional minerals with existing production and
line-of-sight development and to repay borrowings under the
company's credit facility
    ** PHX up ~83%, as of last close
 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))