News listings

energy-pedia farmouts/divestments


South America / GoM >>> USA

US: WhiteHawk Energy announces $54 million acquisition of core Marcellus Shale natural gas mineral and royalty assets

20 Nov 2023

  • WhiteHawk acquired additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54.0 million
  • The acquisition increases WhiteHawk’s mineral and royalty ownership in its existing 475,000 gross acre position focused in Greene and Washington counties, Pennsylvania
  • WhiteHawk’s acquisition increases its Marcellus Shale assets by 100%
Photo - see caption

WhiteHawk Energy has announced the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54.0 million. The acquisition increases WhiteHawk’s mineral and royalty ownership in its existing 475,000 gross acre position by 100% (collective with WhiteHawk’s existing position, the 'Marcellus Assets'). WhiteHawk’s Marcellus Assets are primarily located in Washington and Greene counties, Pennsylvania, which represents some of the highest quality natural gas reserves in the United States.

'These assets include all the ideal mineral and royalty attributes – 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,' stated Daniel C. Herz, Chief Executive Officer of WhiteHawk. 'Since acquiring our initial mineral and royalty interests in the Marcellus Assets in 2022, the assets have performed very well and we are pleased to increase our ownership under some of the best natural gas operators in the world.'

WhiteHawk’s Marcellus Assets cover approximately 475,000 gross unit acres, with production from approximately 1,315 horizontal shale wells. Additionally, WhiteHawk owns mineral and royalty interests in 72 wells-in-progress, 64 permitted wells, and nearly 900 undeveloped Marcellus locations, with additional potential from the underlying Utica Shale. As a result of the acquisition, WhiteHawk will double its net revenue interest in each well across its Marcellus Assets. Approximately 95% of production, cash flow, and present value associated with the Marcellus Assets are operated by EQT Corporation, Range Resources Corporation and CNX Resources Corporation.

Earlier in 2023, WhiteHawk acquired natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres. Combined, WhiteHawk currently owns interests in approximately 850,000 gross unit acres within core operating areas of the Marcellus Shale and Haynesville Shale, with interests in more than 2,550 producing horizontal wells. The Company’s Haynesville Shale assets are actively being 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, and are 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 $50 billion.

Original announcement link

Source: Whitehawk Energy

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 257

Completed Deals

Completed Upstream Deals: 6519

Company Profiles

Current Company Profiles: 2904

Corporate Activity

Current Corporate Activity articles: 4101

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1642


Current Geostudies articles: 946

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Government of South Australia
Telos NRG
Rose & Assocs 180
Union Jack Oil 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675