CALGARY, Alberta, June 15, 2021 (GLOBE NEWSWIRE) -- PHX Energy Services Corp. ("PHX Energy" or the "Corporation") is pleased to announce that its Board of Directors has declared a quarterly cash dividend of $0.025 per common share designated as an “eligible dividend” within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on July 15, 2021, to shareholders of record at the close of business on June 30, 2021.

About PHX Energy Services Corp.

The Corporation, through its directional drilling subsidiary entities, provides horizontal and directional drilling technology and services to oil and natural gas producing companies in Canada, the US, Russia and Albania.

The common shares of PHX Energy are traded on the Toronto Stock Exchange under the symbol "PHX".

For further information please contact:

PHX Energy Services Corp.
John Hooks
Chief Executive Officer
Phone: (403) 543-4466

or

PHX Energy Services Corp.
Cameron Ritchie
Senior Vice President, Finance and Chief Financial Officer
Phone: (403) 543-4466

or

visit our website at www.phxtech.com