WhiteHawk Energy Secures $100 Million to Fund Haynesville Shale Acquisition
[Click image to enlarge]
WhiteHawk Energy has entered into a $100 million acquisition finance facility with a top tier institution. The company utilized an initial $20 million draw on the acquisition facility to fund an additional closing of Haynesville Shale natural gas mineral and royalty assets from Mesa Minerals Partners, located in northwestern Louisiana and eastern Texas. The company expects to utilize additional borrowings from the acquisition facility to fund future acquisitions of mineral and royalty assets.
“This is an exciting day for WhiteHawk, as we take our next big step towards being the leading natural gas mineral and royalty company in the United States. Our partnership with one of the top institutional investors in the U.S. will help to accelerate WhiteHawk’s consolidation of the highest quality natural gas mineral and royalty positions,” said Daniel Herz, chief executive officer of WhiteHawk.
“This Institution is a global leader in investing, innovative energy and commodity risk management solutions. There is a significant opportunity to continue to acquire natural gas mineral and royalty assets delivering consistent and growing cash flow in core basins developed by top-tier operators. WhiteHawk, in partnership with this institution, is well positioned to continue to be a leader in the consolidation of these assets as natural gas continues to grow in demand and lead America’s energy transition,” added Herz.
WhiteHawk currently manages approximately 850,000 gross unit acres within core operating areas of the Marcellus Shale and Haynesville Shale, with interests in more than 2,500 producing horizontal wells.
The company’s Haynesville royalties cover approximately 375,000 gross unit acres in the Haynesville Shale. The Haynesville royalties are being actively developed by Southwestern Energy, Chesapeake Energy, Aethon Energy Management, and Comstock Resources.
The company’s Marcellus Shale assets cover 475,000 gross unit acres focused in Greene and Washington Counties, Pennsylvania, predominately operated by EQT, Range Resources, and CNX Resources. The diversified position benefits from sales points in both the Northeast and Gulf Coast regions with combined operator market capitalization of approximately $40 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 more than $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 © 2023 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)
