Philadelphia-based WhiteHawk Energy, a company focused on acquiring mineral and royalty interests in top tier natural gas resource plays, recently purchased additional Marcellus Shale natural gas mineral and royalty assets for $54 million.
The assets are mostly located in Washington and Greene counties and increase the company’s mineral and royalty ownership in its existing 475,000 gross acre position by 100 percent. There are approximately 1,315 horizontal shale wells.
“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,” Daniel C. Herz, WhiteHawk CEO, said. “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.”
EQT Corp., Range Resources Corp. and CNX Resources Corp. operate approximately 95 percent of the production, cash flow, and present value associated with the assets
WhiteHawk Energy owns mineral and royalty interests in 64 permitted wells, 72 wells-in-progress, and nearly 900 undeveloped Marcellus locations with additional potential from the Utica Shale. It also owns assets in the Haynesville Shale.