WhiteHawk Energy Acquires Marcellus Shale Natural Gas Mineral, Royalty Assets in Pa. and W.Va.
[Click image to enlarge]
WhiteHawk Energy has acquired additional Marcellus Shale natural gas mineral and royalty assets covering 435,000 gross unit acres across southwestern Pennsylvania and northern West Virginia.
The acquisition expands WhiteHawk’s core Marcellus position to include top-tier operator Antero Resources alongside additional mineral and royalty interests operated by EQT Corporation, Range Resources, and CNX Resources. Inclusive of the acquired assets, WhiteHawk owns natural gas mineral and royalty interests across approximately 1,050,000 gross unit acres and over 3,400 producing wells.
“The Marcellus acquisition marks our fifth acquisition to date and complements our existing Marcellus Shale and Haynesville Shale assets. This acquisition further adds additional diversity and cash flow to WhiteHawk’s portfolio of core mineral and royalty assets. Increasing our asset base to include core positions in West Virginia is an exciting next step for WhiteHawk,” said Daniel Herz, chief executive officer of WhiteHawk.
“These assets are directly in-line with our Company’s thesis — diversified acreage positions in the core of well-established basins, operated by best-in-class companies, generating significant cash flow with no additional capital expenditures,” added Herz.
With today’s acquisition, WhiteHawk’s Marcellus Shale assets cover approximately 700,000 gross unit acres, with production from approximately 2,029 horizontal shale wells. Additionally, WhiteHawk owns mineral and royalty interests in 135 wells-in-progress, 76 permitted wells, and 1,267 undeveloped Marcellus locations, with additional potential from the underlying Utica Shale.
WhiteHawk also owns natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres and approximately 1,371 producing horizontal shale wells. Additionally, WhiteHawk owns mineral and royalty interests in 127 wells-in-progress, 189 permitted wells, and 966 undeveloped Haynesville locations.
The company’s Haynesville Shale assets are actively being developed by Southwestern Energy, Chesapeake Energy, Aethon Energy Management, and Comstock Resources.
WhiteHawk’s combined positions benefit from diversified sales points in both the Northeast and Gulf Coast regions with several public company operators of combined market capitalization of approximately $58 billion.
WhiteHawk Energy is focused on acquiring mineral and royalty interests in top tier natural gas resource plays, including the Haynesville and Marcellus Shales. The management team at WhiteHawk has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2024 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
