Phoenix Energy announced a cash distribution of $0.625 per Preferred Share to be paid on July 15, 2026.
Quiver AI Summary
Phoenix Energy One, LLC, a California-based energy company focused on oil and gas exploration primarily in the Williston Basin, announced a cash distribution of $0.625 per Series A Cumulative Redeemable Preferred Share to shareholders who are on record as of July 1, 2026. This payment is scheduled for July 15, 2026, and is in accordance with the terms of the company's share designation. The distribution is based on a liquidation preference of $25.00 per share, calculated at an annual rate of 10.00% for the specified period. The company's preferred shares are listed on the NYSE American LLC and have been available since September 2025. Phoenix Energy specializes in oil production, mineral rights royalty acquisition, and non-operating working interests across various U.S. basins.
Potential Positives
- The company announced a cash distribution of $0.625 per Preferred Share, demonstrating its commitment to returning value to shareholders.
- The distribution is consistent with the terms of the series A Cumulative Redeemable Preferred Shares, indicating stable financial management and adherence to corporate governance.
- The Preferred Shares are listed on NYSE American LLC, enhancing the company’s visibility and credibility in the financial markets.
- The ongoing focus on oil and gas exploration across key U.S. basins underscores the company’s strategic position in the energy sector.
Potential Negatives
- The announcement of a cash distribution may suggest that the company is relying on preferred equity to manage cash flows, which could indicate underlying financial pressures.
- The focus on preferred share distributions may shift investor attention away from common equity performance and growth prospects, potentially leading to skepticism about the company's long-term viability.
- The financial terms outlined in the press release, including a fixed rate of 10.00%, may signal limited revenue growth opportunities, which could negatively impact investor confidence.
FAQ
What is the cash distribution amount for Phoenix Energy's Preferred Shares?
The cash distribution amount is $0.625 per Preferred Share.
When will the cash distribution be paid out?
The cash distribution will be paid on July 15, 2026.
What is the record date for the Preferred Shares distribution?
The record date for the Preferred Shares distribution is July 1, 2026.
Where can I find the terms of the Preferred Shares?
The terms of the Preferred Shares are available in the Company's Third Amended and Restated Limited Liability Company Agreement on the SEC's website.
What is Phoenix Energy's primary focus in oil and gas?
Phoenix Energy focuses on oil and gas exploration and production in the Williston Basin in North Dakota and Montana.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
IRVINE, Calif., June 18, 2026 (GLOBE NEWSWIRE) -- Phoenix Energy One, LLC (“Phoenix Energy” or the “Company”), an energy company focused on oil and gas exploration and production across key U.S. basins, with a primary footprint in the Williston Basin in North Dakota and Montana, announced today its board of directors has authorized a cash distribution for the Series A Cumulative Redeemable Preferred Shares (the “Preferred Shares”) of $0.625 per Preferred Share to holders of record as of the close of business on July 1, 2026, which distribution will be paid on July 15, 2026.
The announced distribution is consistent with and made pursuant to the terms of the share designation for the Preferred Shares attached to the Third Amended and Restated Limited Liability Company Agreement of the Company, which is available on Edgar through the SEC’s website and is based on the stated liquidation preference of $25.00 per Preferred Share (calculated on a 360-day year of twelve 30-day months) at a rate of 10.00% per annum for the period from and including April 15, 2026 to and excluding July 15, 2026.
The Company’s Preferred Shares are listed on the NYSE American LLC (NYSE MKT: PHXE.P) and might appear stylized as PHXE-P, PHXE-PR, or PHXE/P on different brokerage platforms. The preferred shares have been listed since September 30, 2025.
To learn more about Phoenix Energy, visit the Company’s website at https://phoenixenergy.com .
About Phoenix Energy
Founded in 2019 and headquartered in Irvine, California, Phoenix Energy is an innovative energy company specializing in oil production, mineral rights royalty acquisition, and non-operating working interests. Phoenix Energy’s drilling operations are currently focused on the Williston Basin (North Dakota and Montana), as well as the Powder River and Denver-Julesburg Basins (Wyoming and Colorado). Its royalty and working interest acquisitions target mineral, leasehold, overriding, and perpetual royalty interests across major U.S. basins.
Disclaimer
This press release contains forward-looking statements, which are statements regarding all matters that are not historical facts and include statements regarding Phoenix Energy’s current views, hopes, intentions, beliefs, or expectations concerning, among other things, its results of operations, financial condition, liquidity, prospects, growth, strategies, and position in the markets and the industries in which it operates. These forward-looking statements are generally identifiable by forward looking terminology such as “expect,” “believe,” “anticipate,” “outlook,” “could,” “target,” “project,” “intend,” “plan,” “seek,” “estimate,” “should,” “will,” “approximately,” “predict,” “potential,” “may,” and “assume,” as well as variations of such words and similar expressions referring to the future.
Contact
Company: Phoenix Energy One, LLC
Email:
[email protected]
Address: 18575 Jamboree Road, Suite 830, Irvine, CA 92612
Phone: 949-416-5037
