Philadelphia-based WhiteHawk Energy, a company focused on acquiring mineral and royalty interests in top tier natural gas resource plays, recently acquired additional Marcellus Shale natural gas mineral and royalty assets in southwestern Pennsylvania and northern West Virginia.
The assets, covering 435,000 gross unit acres, will expand the company’s position in the Marcellus Shale.
“The Marcellus Acquisition marks our fifth acquisition to date and complements our existing Marcellus Shale and Haynesville Shale assets,” Daniel C. Herz, WhiteHawk CEO, said. “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. 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.”
WhiteHawk now owns natural gas mineral and royalty interests of approximately 1.05 million gross unit acres and more than 3,400 producing wells. In the Marcellus Shale, assets cover approximately 700,000 gross unit acres and include approximately 2,029 horizontal shale wells.
The company also owns natural gas mineral and royalty assets in the Haynesville Shale. The assets cover approximately 375,000 gross unit acres and include approximately 1,371 wells.