PHX Minerals Inc. (NYSE:PHX) Q2 2024 Earnings Conference Call August 8, 2024 11:00 AM ET

Company Participants

Stephen Lee - FNK IR
Chad Stephens - President and CEO
Danielle Mezo - VP, Engineering
Ralph D'Amico - EVP and CFO

Conference Call Participants

Charles Meade - Johnson Rice
Jeff Grampp - Alliance Global Partners
Donovan Schafer - Northland Capital Markets

Operator

Good morning, and thank you for attending today's PHX Minerals' June 30, 2024, Quarter End Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded.

I would now like to turn the call over to Stephen Lee with FNK IR. Please go ahead, sir.

Stephen Lee

Thank you, operator. Good morning, and thank you for joining us today to discuss PHX Minerals' June 30, 2024, quarterly results. Joining us on the call today are Chad Stephens, President and Chief Executive Officer; Ralph D'Amico, Executive Vice President and Chief Financial Officer; and Danielle Mezo, Vice President of Engineering. The earnings press release that was issued yesterday after the close is also posted on PHX Investor Relations website.

Before I turn the call over to Chad, I would like to remind everyone that during today's call, including the Q&A session, management may make forward-looking statements regarding expected revenue, earnings, future plans, opportunities, and other expectation of the company. These estimates and other forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those expressed or implied on the call. These risks are detailed in PHX Minerals' most recent annual report on Form 10-K, as such may be amended or supplemented by subsequent quarterly reports on Form 10-Q and other reports filed with the Securities and Exchange Commission.

The statements made during this call are based upon information known to PHX as of today, August 8, 2024, and the company does not intend to update these forward-looking statements whether as a result of new information, future events, or otherwise, unless required by law.

With that, I would like to turn the call over to Chad Stephens, PHX's Chief Executive Officer. Chad?

Chad Stephens

Thanks, Stephen, and thanks to all of you on this call for participating in PHX's June 30, 2024, quarter end earnings conference call. We appreciate your interest in the company.

The macro environment in which we are operating continues to be challenging. Commodity prices remain suppressed. Total rig activity in the Lower 48 is down, especially in the natural gas basins, while the supply-demand fundamentals for both oil and gas appear to be nearing equilibrium.