WhiteHawk Energy enters acquisition facility to speed acquisition of natural gas assets

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On Monday, Philadelphia-based WhiteHawk Energy, LLC announced it had entered into an agreement with an investor to fund its acquisition of mineral and royalty assets.

The company said an acquisition finance facility with a “top tier” institution would help WhiteHawk purchase assets from Mesa Minerals Partners, LLC., located in northwestern Louisiana and eastern Texas. WhiteHawk said it will use a $20 million draw to close on the Haynesville Shale natural gas mineral and royalty assets from Mesa Minerals, with the remained of the Acquisition Facility maturing on Dec. 31, 2025. The Acquisition Facility can be used for future acquisitions, the company said.

“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,” Daniel C. Herz, Chief Executive Officer of WhiteHawk, said. “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.”

WhiteHawk currently owns mineral and royalty interested in the core of the Marcellus Shale and Haynesville Shale over 850,000 gross unit acres and over 2,500 producing horizontal shale wells, the company said. Haynesville Royalties cover an estimate 375,000 gross unit acres in the Haynesville Shale which 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 in Greene and Washington counties in Pennsylvania which are operated by EQT, Range Resources, and CNX Resources.