PHX Minerals Inc. is a natural gas and oil mineral company, which is focused on perpetual natural gas and oil mineral ownership in resource plays in the United States. The Company owns interests in leasehold acreage and non-operated working interests in natural gas and oil properties. The Company’s principal line of business is maximizing the value of its existing mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests. Its perpetual ownership of 239,909 net mineral acres, held principally in Oklahoma, Texas, Louisiana, North Dakota and Arkansas; leases on 13,290 net acres primarily in Oklahoma; and working interests, royalty interests or both in 6,958 producing natural gas and oil wells and 150 wells in the process of being drilled or completed. Exploration and development of its natural gas and oil properties are conducted by natural gas and oil exploration and production companies.