PHX Minerals Continues to Tack On Scoop Acreage Following Asset Sales

The recent working interest divestitures and royalty acquisitions are expected to have a neutral effect on overall production during 2022, says PHX Minerals in a company release.

Hart Energy Staff

PHX Minerals Inc. recently completed the acquisition of royalty acreage in the SCOOP play while selling two packages of nonoperated legacy working interest wellbores located primarily in the Arkoma Shale and Western Anadarko Shale plays of Oklahoma.

“These transactions are a continuation of our strategy to high-grade PHX’s asset base by divesting legacy working interest wellbores and reinvesting the proceeds in higher margin minerals in our core areas of focus,” President and CEO Chad Stephens commented in a company release on Dec. 1.

Two undisclosed buyers agreed to acquire the two packages of assets totaling 193 nonoperated legacy working interest wellbores for a total of $2.5 million plus the assumption of approximately $500,000 of asset retirement obligation.

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