At the beginning of 2020 PHX Minerals (PHX) began a massive change. The company, which prior to this date had been known as Panhandle Oil & Gas, began a wholesale transformation. This included a management overhaul and an almost entirely new business model, which is now paying dividends.
Today, PHX acquires and develops non-developed oil and gas mineral properties, with a focus on active acquisitions and developing royalties streams. Prior to 2020, the company had focused on drilling operations. As PHX puts it, they made the decision in early 2020 to move from a higher cost/lower margin business to a lower cost/higher margin business.
