WhiteHawk Energy LLC said on Sept. 18 it had acquired Marcellus Shale natural gas mineral and royalty interests covering 435,000 gross unit acres across southwestern Pennsylvania and northern West Virginia.

Financial terms of the acquisition were not disclosed. In November 2023, WhiteHawk said it had acquired 475,000 gross acres for a total purchase price of $54 million.

The new acquisition adds to WhiteHawk’s Marcellus position, with assets operated by Antero Resources, EQT Corp., Range Resources and CNX Resources. With the acquisition, the company’s fifth in the Marcellus, WhiteHawk said its owns natural gas mineral and royalty interests across more than 1 million unit acres and 3,400 producing wells. The company also holds mineral and royalty interests in the Haynesville Shale.

“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,” said CEO Daniel C. Herz. “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.”

With the acquisition, WhiteHawk’s Marcellus assets cover approximately 700,000 gross unit acres, with production from approximately 2,029 horizontal shale wells, the company said. WhiteHawk also owns mineral and royalty interests in 135 wells-in-progress, 76 permitted wells and 1,267 undeveloped Marcellus locations, with additional potential from the underlying Utica Shale.

WhiteHawk’s position in the Haynesville covers approximately 375,000 gross unit acres and approximately 1,371 producing horizontal shale wells.

WhiteHawk’s Marcellus deal was financed by EIG.

Weil, Gotshal & Manges LLP served as legal counsel to WhiteHawk.

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