Whitehawk Energy announced the acquisition of additional minerals and natural gas royalties in the Marcellus shale for $ 118 million.
The transaction doubles the interest of Whitehawk’s property in its 475,000 acres of existing raw unit and improves its position, mainly in the counties of Washington and Greene in Pennsylvania.
EQT, Range Resources, CNX Resources and Antero Resources manage approximately 95% of the production, cash flows and the current value of Marcellus assets.
The agreement comes into force from January 1, 2025.
Whitehawk Marcellus Shale Holdings now covers around 675,000 raw acres, with an output derived from approximately 2,068 horizontal shale wells.
The company also has mineral interests and fees in 141 wells in progress, 66 authorized wells and 1,713 non-developed Marcellus locations, with an underlying UTICA shale potential.
The CEO of Whitehawk Energy, Daniel C. Herz, said: “The acquisition of Marcellus 2025 provides additional production of Whitehawk, a site line development, undeveloped stocks and cash flows from our basic position of the Appalaches.
“Today’s transaction marks our sixth acquisition in the last three years and the third acquisition of interest in these assets, which have continually surpassed our expectations and fully consolidates these positions in Whitehawk.
“This acquisition of Marcellus shale is the ideal position of natural gas minerals, combining the best natural gas operators in its category, proven and predictable production, and the lowest drilling costs in the United States.”
In parallel with its Marcellus assets, Whitehawk also holds the interests of natural gas minerals and royalties in the Haynesville shale, extending about 375,000 raw acres and including 1,371 horizontal shale wells.
Haynesville’s assets are actively developed by expanding energy, Aethon energy management and Comstock resources.
Shale Marcellus’ assets have achieved expectations above expectations since Whitehawk initially acquired them in March 2022.
Whitehawk Energy previously concluded an agreement Acquire other mineral assets with natural gas and royalty In the Marcellus Shale region in November 2023 of an undisclosed company for $ 54 million.
“Whitehawk Energy acquires natural gas assets at Marcellus Shale for $ 118 million” was created and published by Offshore technologyA brand belonging to GlobalData.
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