Key Developments: Panhandle Oil and Gas Inc (PHX)
29.40USD
17 May 2013
$0.48 (+1.66%)
$28.92
$28.96
$29.50
$28.91
8,951
7,901
$33.49
$24.33
Latest Key Developments (Source: Significant Developments)
Panhandle Oil and Gas Inc Announces Dividend Payment
Panhandle Oil and Gas Inc announced that its Board of Directors, at its December 12, 2012, meeting, approved a payment of the regular $0.07 per share quarterly dividend. The dividend will be payable on March 8, 2013, to shareholders of record on Febuary 25, 2013. Full Article
Panhandle Oil and Gas Inc Announces Quarterly Dividend Payment
Panhandle Oil and Gas Inc announced that its Board of Directors, at its October 24, 2012, meeting approved payment of the regular $0.07 per share quarterly dividend. The dividend will be payable on December 10, 2012, to shareholders of record on November 26, 2012. Full Article
Panhandle Oil and Gas Inc Quarterly Dividend Payment
Panhandle Oil and Gas Inc announced that its Board of Directors, at its July 25, 2012, meeting approved payment of the regular $0.07 per share quarterly dividend. The dividend will be payable on Sept. 7, 2012, to shareholders of record on Aug. 23, 2012. Full Article
Panhandle Oil and Gas Inc Announces Quarterly Dividend Payment
Panhandle Oil and Gas Inc announced that its Board of Directors, at its May 16, 2012, meeting, approved a regular USD0.07 per share quarterly dividend payment to be paid on June 11, 2012, to shareholders of record on May 29, 2012. Full Article
Panhandle Oil and Gas Inc. Announces Western Oklahoma Lease Agreement
Panhandle Oil and Gas Inc announced that is has leased partial rights to 2,846 of its net mineral acres located in Roger Mills County, Okla., to a independent exploration and production company for $4,981,000. Panhandle also retained a 3/16th non-cost bearing royalty interest in all production from wells drilled on these leased rights. The rights leased were from the surface to 100 feet below the base of the Virgilian (the base of the Virgilian is equivalent to the base of the Tonkawa). Panhandle retained the rights to the deeper pays including the Hogshooter, Cleveland, Marmaton and Granite Wash. The primary term of the lease is three three years with the right to extend for one additional year. The lessee also has the right of first refusal to the deep rights on this mineral acreage, should Panhandle elect to market any of these rights during the primary term of the lease. Full Article
Panhandle Oil and Gas Inc. Announces Quarterly Dividend Payment
Panhandle Oil and Gas Inc. announced that its Board of Directors, has approved a regular $0.07 per share quarterly dividend to be payable on March 9, 2012, to shareholders of record on February 23, 2012. Full Article
Panhandle Oil and Gas Inc. Comments On FY 2012 Production Guidance
Panhandle Oil and Gas Inc. announced that it will continue to expand reserve base and increase production volumes in fiscal 2012 and beyond by drilling on existing minerals and through acquisitions of additional mineral acreage and producing properties. Full Article
Panhandle Oil and Gas Inc. Announces Dividend Payment
Panhandle Oil and Gas Inc announced that its Board of Directors, at its July 27, 2011 meeting, approved its regular $0.07 per share quarterly dividend. The dividend will be payable on December 8, 2011, to shareholders of record on November 22, 2011. Full Article
Panhandle Oil and Gas Inc. Reports Closing of Purchase of Fayetteville Assets
Panhandle Oil and Gas Inc. announced that on October 25, 2011, it closed on the acquisition of certain Fayetteville assets first reported in an October 4, 2011, press release reporting the signing of an intent to purchase the assets. The purchase price was $17,500,000. The assets were acquired from a private seller and include interests in 193 producing non-operated natural gas wells and 1,531 acres of leasehold located in Van Buren, Conway and Cleburne Counties, Arkansas, in the core of the Fayetteville Shale. The transaction was funded by utilizing cash on hand and the Company's bank credit facility. Full Article
Panhandle Oil and Gas Inc. Announces Intent to Purchase Fayetteville Assets
Panhandle Oil and Gas Inc. announced that it has agreed to purchase interests in 193 non-operated natural gas wells and 1,531 acres of leasehold located in Van Buren, Conway and Cleburne Counties, Arkansas for $17,500,000 from a private seller. The transaction is projected to close on or about October 25, 2011, with an effective date of September 1, 2011. The properties are principally located in the core of the prolific Fayetteville Shale natural gas play and are primarily operated by the play's premier operator. The acquisition will be funded with a combination of existing cash on hand and the Company's credit facility with Bank of Oklahoma. The 1,531 acres of leasehold are located in 69 drilling units with 82% of the leasehold being held by production. The estimated net proved developed producing reserves are approximately 9.2 Bcfe, and there are approximately 15.2 Bcfe of identified undeveloped reserves on the properties. In the fourth calendar quarter of 2011, net production from the existing producing wells included in the acquisition is projected to be approximately 2.7 Mmcf per day. In addition, there are approximately 240 future infill drilling locations identified on the leasehold, assuming development of eight wells per unit. Full Article
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