Increase in Production Volumes
Total production volumes increased by approximately 5% year over year, with royalty volume up 8% for the year.
Dividend Increase
The dividend increased by 33% as announced in the third quarter of 2024, reflecting confidence in asset quality and future growth potential.
Debt Reduction
Debt was reduced to $19.8 million from $29.5 million through proceeds from the sale of non-producing minerals, improving the financial leverage to under 1.0 times adjusted EBITDA.
Resilient Financial Performance
Despite challenging conditions, PHX Minerals Inc. demonstrated resilience with adjusted EBITDA for the quarter increasing to $5.4 million, compared to $4.9 million in the prior quarter.
Strategic Alternatives Review
The company is actively evaluating strategic alternatives to unlock shareholder value, indicating potential future growth opportunities.