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Phoenix Energy One Llc's Business Segments
Phoenix Energy One Llc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
7
Largest Segment
Product
Total Revenue
$ 406
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Product0%
- Product sales0%
- Crude Oil45.6%
- Mineral and Royalty20.9%
- Water services2.5%
- Other revenue0.2%
- Elimination Mineral and royalty revenues Crude oil0%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Product | $ 424 | - |
| Product sales | $ 424 | - |
| Crude Oil | $ 185 | 45.6% |
4 more segments available
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Revenue by Product & Service Category - FY
- Product59.6%
- Crude Oil26.6%
- Mineral and Royalty12.1%
- Water services1.5%
- Other revenue0.2%
Revenue by Product & Service Category - FY
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Product | $ 242 | 59.6% |
| Crude Oil | $ 108 | 26.6% |
| Mineral and Royalty | $ 49 | 12.1% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
2 more categories available
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Annual Results
Revenue Share by Reportable Segment - FY
- Product0%
- Product sales0%
- Crude Oil45.6%
- Mineral and Royalty20.9%
- Water services2.5%
- Other revenue0.2%
- Elimination Mineral and royalty revenues Crude oil0%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Product | $ 424 | - |
| Product sales | $ 424 | - |
| Crude Oil | $ 185 | 45.6% |
4 more segments available
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Description of Phoenix Energy One Llc
The registrant operates in the direct drilling and mineral rights acquisition sector primarily through its investment in PhoenixOp, which conducts direct drilling and extraction activities. The company focuses on identifying, purchasing, and operating oil and gas properties, with a significant portion of its assets located in the Williston Basin. Its business is sensitive to fluctuations in oil and gas prices and involves risks such as competition, uncertainties in mineral rights investments, and operational challenges related to drilling and reserve estimation. The registrant utilizes software to identify assets and relies on third-party exploration and production operators for property development and operations. Property acquisition and development are capital-intensive and require substantial financing, which may be influenced by market conditions and Federal Reserve policies. The company faces risks associated with marketing minerals, royalty payments, title defects, and regulatory compliance, including environmental and climate change regulations. Its operations are subject to federal, state, and local laws and may encounter legal and tax challenges. The registrant has a limited operating history and significant indebtedness, which could affect its financial condition and ability to meet obligations. The business involves high-risk activities with uncertainties that could materially impact its financial results and operations.
The registrant operates through three reportable business segments: Operating Segment, Mineral and Non-operating Segment, and Securities Segment. The Operating Segment, managed by PhoenixOp, recorded depletion expenses of $35.4 million in 2024, compared to less than $0.1 million in 2023, reflecting significant capital expenditures on developing operated wells. Selling, general, and administrative expenses for this segment increased to $6.2 million in 2024 from $2.8 million in 2023, corresponding with PhoenixOp's first full year of operations. The Mineral and Non-operating Segment reported depletion expenses of $50.6 million in 2024, up from $34.2 million in 2023, driven by increased production and capital expenditures. Selling, general, and administrative expenses for this segment rose to $14.4 million in 2024 from $6.8 million in 2023, primarily due to higher corporate overhead and fees related to land acquisition and title work. The Securities Segment's selling, general, and administrative expenses increased to $8.6 million in 2024 from $4.7 million in 2023, mainly due to increased legal costs associated with securities offerings.