PHX Minerals Says WhiteHawk Marriage Proposal “Grossly Inadequate”

Last week MDN told you that WhiteHawk Energy, headquartered in Philadelphia with ownership of mineral and royalty interests for 850,000 gross unit acres and over 2,500 producing horizontal shale wells between the Marcellus and the Haynesville, had proposed marriage to PHX Minerals, based in Fort Worth, Texas, owner of 75,000 leased mineral acres principally located in the SCOOP and Haynesville plays (see WhiteHawk Energy Proposes Forced Merger with PHX Minerals, Inc.). WhiteHawk's original overtures went unanswered, so it issued a very public proclamation of its intent to get PHX down the aisle, willingly or not. PHX answered yesterday--with a very public "get lost" message.

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