Exhibit 23.2
DeGolyer and MacNaughton
5001 Spring Valley Road
Suite 800 East
Dallas, Texas 75244
December 10, 2020
PHX Minerals Inc.
Valliance Bank Tower, Suite 1100
1601 NW Expressway
Oklahoma City, OK 73118
Ladies and Gentlemen:
We hereby consent to the inclusion of or incorporation by reference into the Registration Statement on Amendment No. 1 to Form S-3 of PHX Minerals Inc. (PHX), and any prospectus supplement filed with respect thereto, of our report of third party dated October 6, 2020, with respect to estimates of reserves and future net revenue attributable to PHX, as of September 30, 2020, and to all references to our firm included in PHX’s Annual Report on Form 10-K for the year ended September 30, 2020.
Very truly yours,
/s/ DeGolyer and MacNaughton
DeGOLYER and MacNAUGHTON
Texas Registered Engineering Firm F-716