Phoenix Energy's Preferred Shares Set for Initial Distribution
Phoenix Energy Announces Preferred Shares Distribution
Phoenix Energy One, LLC, renowned for its involvement in oil and gas exploration and production, is making remarkable advancements with its Series A Cumulative Redeemable Preferred Shares. This initiative marks a significant step for the company as it taps into the financial markets, currently listed on NYSE American LLC under the ticker PHXE.
Initial Distribution Details
In line with the terms governing the Preferred Shares, the company has declared an initial distribution of $0.11111 per share. This amount will be disbursed to shareholders on October 15, 2025, with the record date for eligibility set for October 1, 2025. These distributions signify Phoenix's commitment to providing shareholder value as it grows its business.
Understanding the Preferred Shares
The specifics related to the distribution rate and other rights tied to the Preferred Shares are documented in the company’s Third Amended and Restated Limited Liability Company Agreement. This legal framework serves to clarify the rights and obligations of both the company and the shareholders involved.
Strategic Approach of Phoenix Energy
Founded in 2019, Phoenix Energy has established itself in critical U.S. basins, focusing its operations primarily in the Williston Basin, which spans regions in North Dakota and Montana. The company is committed to its three-pronged strategy involving direct drilling, royalty acquisition, and non-operated working interests. These operational strategies enable Phoenix Energy to maximize returns and innovate within the competitive energy sector.
Company Expansion and Workforce
Headquartered in Irvine, California, Phoenix Energy has expanded its footprint with additional offices in several states, including Colorado, Texas, Florida, Wyoming, and North Dakota. The company boasts a dedicated workforce of over 165 employees dedicated to driving its mission of exploration and production excellence.
Contact Information
For those looking to connect with Phoenix Energy, the company provides an accessible avenue through its investor relations department. Interested parties can reach out via email at investorrelations@phoenixenergy.com, or by phone at 303.376.9778.
Frequently Asked Questions
What is the date for the initial distribution of Phoenix Energy's Preferred Shares?
The initial distribution of $0.11111 per share is set to be paid on October 15, 2025.
What is the significance of the Preferred Shares to the company?
The Series A Cumulative Redeemable Preferred Shares are crucial for raising capital and providing returns to investors as the company expands its operations.
Where is Phoenix Energy primarily focused?
Phoenix Energy primarily operates in the Williston Basin, which is known for its rich oil reserves.
How can investors get involved with Phoenix Energy?
Investors can participate by purchasing Preferred Shares listed under the ticker PHXE on the NYSE American LLC.
What strategies does Phoenix Energy employ in its operations?
Phoenix Energy employs a combination of direct drilling, royalty acquisition, and non-operated working interests to optimize its production capabilities.
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