Canadian Halal Investor.

Screened September 29, 2026 · TSX: PHX · Q2 2026 (quarter ended June 30, 2026)

PASS

Is PHX Energy Services (PHX) halal?

PHX Energy Services (TSX: PHX) is a Calgary oilfield services company (directional drilling, RSS, motor rentals) with no haram business segment. Interest-bearing debt of ~C$64.5 million is about 11.7% of the ~C$552 million market cap, below the ~33% ceiling, and no interest income is disclosed. This screener is a PASS.

The two-gate Shariah screen

Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, weapons manufacturing, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).

Gate one: the business — passes

PHX Energy Services Corp., based in Calgary, provides horizontal and directional drilling technology and services to oil and natural gas exploration and production companies. Its offering includes directional drilling and RSS (rotary steerable systems) services, motor rentals, and motor equipment and parts sales, through its US division (~71% of Q2 2026 revenue), Canadian division, and an international segment. Q2 2026 revenue was a record $178.9 million, up 7% year-over-year, driven by strong Canadian drilling activity and record RSS adoption. No haram business segments were found. The business gate passes.

Gate two: the ratios — passes

At June 30, 2026 (Q2 2026 results, reported August 4, 2026, all CAD): loans and borrowings (interest-bearing debt) of ~C$64.5 million = CAD $64.5M drawn on Canadian credit facilities, nothing drawn on the US operating facility. Cash was ~C$20.6M, for net debt of ~C$43.9M. Lease-liability balances are not separately disclosed in the release's financial-position table. With ~45.76 million shares outstanding at ~C$12.07 (TSX close September 25, 2026), the market cap is about C$552.3 million — debt is about 11.7% of market cap, below the ~33% ceiling, so it passes the debt gate. The Q2 2026 interim statements disclose no interest income line (finance expense of $859k only, mainly interest charges on the credit facilities) — "Other income" of $9.6M is primarily net gain on disposition of drilling equipment, not interest — so non-compliant income is effectively nil, below the ~5% ceiling.

What other screeners say

No coverage pages for PHX/PHX.TO were found on Zoya, Musaffa, or ShariaPortfolio in targeted searches as of September 2026. This screener is based on PHX Energy's Q2 2026 financials.

The bottom line

This screener gives PHX Energy Services Corp. (TSX: PHX) a PASS. A clean oilfield services business with modest leverage — debt at about 11.7% of market cap and no interest income disclosed — passes both gates. The company returns capital through a quarterly dividend ($0.20 per share declared June 12, 2026) and a return-of-capital strategy targeting up to 70% of annual excess cash flow for shareholder returns. Leadership is unchanged (Michael Buker, President & CEO). Consult a qualified scholar. Snapshot dated September 29, 2026; re-checked quarterly after earnings.

Sources

Frequently asked questions

Is PHX Energy Services halal?

This screener gives it a PASS. PHX Energy Services Corp. (TSX: PHX) is a Calgary oilfield services company providing horizontal and directional drilling services, rotary steerable systems (RSS), and motor rentals, with operations in Canada, the US, and an international segment. No haram business segment was found. Interest-bearing debt of ~C$64.5 million is about 11.7% of the ~C$552.3 million market cap, below the ~33% ceiling, and no interest income line is disclosed (finance expense only), so both ratio gates pass. No coverage was found from Zoya, Musaffa, or ShariaPortfolio. Consult a qualified scholar.

What does PHX Energy Services do?

PHX Energy Services Corp., based in Calgary, provides horizontal and directional drilling technology and services to oil and natural gas exploration and production companies. Its offering includes directional drilling and RSS (rotary steerable systems) services, motor rentals, and motor equipment and parts sales, through its US division (~71% of Q2 2026 revenue), Canadian division, and an international segment. Q2 2026 revenue was a record $178.9 million. No haram business segments were found.

What are PHX Energy Services' debt and market-cap figures?

At June 30, 2026 (Q2 2026 results, reported August 4, 2026, all CAD): loans and borrowings (interest-bearing debt) of ~C$64.5 million = CAD $64.5M drawn on Canadian credit facilities, nothing drawn on the US operating facility. Cash was ~C$20.6M, for net debt of ~C$43.9M. Q2 2026 finance expense was $859k, mainly interest charges on the credit facilities. Lease-liability balances are not separately disclosed in the release's financial-position table. With ~45.76 million shares outstanding at ~C$12.07 (TSX close September 25, 2026), the market cap is about C$552.3 million — debt is about 11.7% of market cap, below the ~33% ceiling.

What do Zoya, Musaffa, and ShariaPortfolio say about PHX?

No coverage pages for PHX/PHX.TO were found on Zoya, Musaffa, or ShariaPortfolio in targeted searches as of September 2026. This screener is based on PHX Energy's Q2 2026 financials, not on a third-party rating.

What is the purification amount for PHX Energy Services' dividend?

PHX Energy pays a quarterly dividend — $0.20 per share declared June 12, 2026 (payable July 15, 2026). The Q2 2026 interim statements disclose no interest income line (finance expense only), so this screener finds no non-compliant income to purify. Use the purification calculator only if a scholar advises otherwise.