Whitehawk Energy acquires Marcellus Shale’s natural gas assets for $118 million
Whitehawk Energy announced Marcellus Shale’s additional natural gas minerals and royalty assets acquisition for $118 million.
The deal doubles White Hawk’s ownership across the existing 475,000 total unit acres and will increase its position primarily in Washington and Green counties in Pennsylvania.
EQT, scope resources, CNX resources, and anterore resources manage approximately 95% of production, cash flow and present value from Marcellus assets.
This transaction will be valid from January 1, 2025.
Whitehawk’s Marcellus Shale Holdings currently spans a total acre of approximately 675,000 acres, with output derived from approximately 2,068 horizontal shale wells.
The company also holds mineral and royal interests in 141 wells.
“We’re looking forward to seeing you in the future,” said Daniel C. Herz, CEO of Whitehawk Energy.
“Today’s transaction marks the sixth acquisition in the last three years and the third acquisition of royalty benefits on these assets.
“This acquisition of Marcellus Shale is an ideal natural gas mineral location combining best-in-class natural gas operators, proven and predictable production, and the lowest broken drilling costs in the United States.”
In addition to Marcellus’ assets, Whitehawk also holds natural gas minerals and royalty benefits in Haynesville shale, spanning around 375,000 acres and produces 1,371 horizontal shale wells.
Haynesville assets are actively developed by Expand Energy, Aethon Energy Management and Comstock Resources.
Marcellus Shale Assets has been running beyond expectations since White Hawk first acquired them in March 2022.
Whitehawk Energy has previously reached an agreement Acquire more natural gas minerals and royalty assets In November 2023, from an undisclosed company for $54 million.
“White Hawk Energy Acquired Marcellus Shale’s Natural Gas Assets for $118 Million” was originally created and published Offshore Technologya brand owned by GlobalData.
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