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Subjects: NEW PRODUCTS/SERVICES, Environmental, Social, and Governance Criteria

PHX Energy Services Announces Third Annual ESG and Sustainability Report

CALGARY, Alberta, April 17, 2023 (GLOBE NEWSWIRE) -- PHX Energy Services Corp. ("PHX Energy" "we" "our" or the "Corporation") (TSX: PHX) is pleased to announce the release of our 2022 Environmental, Social and Governance ("ESG") and Sustainability Report, highlighting our 2022 performance, initiatives related to sustainability, ethical business practices and social responsibility.

We are committed to our ongoing ESG journey, focused on measurable objectives, data driven decisions, continual improvement and transparent communication. We are proud to share our commitment with our stakeholders, including these highlights from our 2022 ESG Report.

Our full 2022 ESG and Sustainability Report is available on our website at www.phxtech.com.

About PHX Energy Services Corp.

PHX Energy, 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 and Albania.

The common shares of PHX Energy are traded on the Toronto Stock Exchange under the symbol "PHX".
For further information please contact:
John Hooks, CEO; Michael Buker, President; or Cameron Ritchie, Senior Vice President Finance and CFO

PHX Energy Services Corp.
Suite 1400, 250 2nd Street SW
Calgary, Alberta T2P 0C1
Tel: 403-543-4466 Fax: 403-543-4485

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