Minerals & Royalties Podcast
Chad Stephens, President & CEO, PHX Minerals
Published 06 April 2021
Chad Stephens joins us from PHX Minerals, a publicly traded minerals & royalties company on the NYSE. During the episode, Chad walks through his 40+ years of experience in the Upstream space and his teams vision for PHX Minerals going forward. Listen here.
● Chad Stephens spent nearly thirty years with Range Resources as they discovered the Marcellus Shale and built up their portfolio to where it is today. During Chad’s final years with Range Resources, he was involved in the structuring of their first Corporate ORRI carve-out.
● Chad has been on of the Board of Directors of Panhandle Oil and Gas, now PHX Minerals, since 2017. After retiring from Range Resources in 2018, Chad stepped into the Interim CEO role of Panhandle Oil & Gas and was later named CEO on January 16th, 2020.
● Chad felt Pan Handle Oil & Gas was well positioned to leverage it’s existing asset base and publicly traded vehicle on the NYSE to become a more active consolidator of minerals.
● In 2020, Chad helped clean-up the balance sheet, renamed the company to PHX Minerals, and executed a small equity offering to acquire some minerals assets in the STACK and Haynesville.
● Going forward, PHX Minerals will be looking to grow in three primary basins, with a strong focus on natural gas minerals; (1) Anadarko Basin; (2) Haynesville; (3) Marcellus.
● The Debt/EBITDA ratio of PHX Minerals is around 1, which has positioned Chad and his team well for acquisition opportunities that arise in the market.
Chad Stephens was named PHX's Chief Executive Officer on January 16, 2020, after serving as Interim CEO since August 2019. Mr. Stephens was named PHX's President and CEO on May 5, 2020.
Mr. Stephens served as Senior Vice President for Corporate Development of Range Resources Corporation (“Range”), a position he held from 2002 until his retirement in December 2018. Mr. Stephens joined Range in 1990 as Senior Vice President, while at Range he was responsible for the origination, valuation and acquisition or divestiture of over $4.0 billion of oil and gas producing properties. Mr. Stephens served on Range’s internal hedging committee and is responsible for the oversight of all gas, oil and NGL marketing and sales. From 1988 to 1990, Mr. Stephens was with Duer Wagner & Co., an independent oil and gas producer. Before that, he was an independent oil operator in Midland, Texas for four years. From 1979 to 1984, Mr. Stephens was with Cities Service Company and HNG Oil Company.
Mr. Stephens holds a Bachelor of Arts degree in Finance and Land Management from the University of Texas. He was appointed to the Board in 2017 and was previously the Lead Independent Director.
Oklahoma City-based, PHX Minerals Inc. (NYSE: PHX) is an oil and natural gas mineral company with a strategy to proactively grow its minerals position in our core areas of focus. PHX owns approximately 253,000 net mineral acres principally located in Oklahoma, North Dakota, Texas, New Mexico and Arkansas. Approximately 71% of this mineral count is unleased and undeveloped.
Find out more about http://www.phxmin.com/
North America Royalties Assembly
Coming to Houston, Texas - 13 October 2021
The home of CEOs & Investors in the Minerals and Royalties Space
Tune into our channel and listen where it works for you
This podcast, and more like it, is available on Spotify, iTunes, Google Podcasts, Breaker, Overcast, Pocket Casts & RadioPublic – subscribe and listen on your channel of choice.
You might also be interested in
Podcast: Steve Hendrickson, President, Ralph E. Davis Associates
Steve Hendrickson, President of Ralph E. Davis Associates, came onto the podcast to discuss his 40+ year career in Oil & Gas and how he got involved in the Minerals & MLP space in the mid-2000s working for Montierra Minerals & Production LP. Listen here. Listen Here
Podcast: Chris Atherton, Chief Executive Officer, EnergyNet
Chris Atherton, Chief Executive Officer of EnergyNet, came onto the podcast to discuss the evolution and trends in the A&D market over the last 20 years and how their team has leveraged proprietary market comps to achieve high rates. Listen here. Listen Here
Podcast: Darin Zanovich, President & CEO, Mesa Minerals Partners II
Darin Zanovich, President and CEO of Mesa Minerals Partners II, returns to the podcast to discuss their teams recent exit to Franco Nevada in December 2020, their new partnership with NGP in May 2021. Listen here. Listen Here
Podcast: Jason Hoisager, President, Mustang Ridge Minerals (Former President – Rock Ridge Royalty)
Jason Hoisager, President, Mustang Ridge Minerals (Former President of Rock Ridge Royalty) joins us to talk about the Rock Ridge Royalty story and what his team has planned in the future for Mustang Ridge Minerals. Listen here. Listen Here