WhiteHawk Energy LLC has entered into a definitive agreement acquire Haynesville Shale mineral and royalty assets for up to $105 million, the company said in a Jan. 17 press release.
The Haynesville royalties are in the core of the basin, WhiteHawk said, adding that its position will cover 375,000 gross unit acres in northwestern Louisiana.
The company said the Haynesville assets acquired will include production from more than 1,230 horizontal wells, 44 permitted wells and another 157 “line of site wells” in the shale play.
The Haynesville interests are being actively developed by “best-in-class natural gas operators” including Southwestern Energy, Chesapeake Energy, Aethon Energy Management and Comstock Resources.
Under the agreement, WhiteHawk will acquire up to $105 million of the royalties with an initial effective date of Feb. 1, 2023.
WhiteHawk management expects the Haynesville royalties to be a strong complement to the company’s existing mineral and royalty assets, the company said.
In 2022, WhiteHawk acquired natural gas mineral and royalty assets covering 475,000 gross unit acres in the core of the Marcellus Shale focused in Greene and Washington counties, Pennsylvania.
Pro forma for the Haynesville Royalties acquisition, the company will have interests in over 2,300 producing horizontal wells across the two preeminent natural gas basins in North America. WhiteHawk said it will own minerals and royalties in the core of the Marcellus and Haynesville spanning 850,000 gross unit acres.
“The acquisition of the Haynesville Royalties is an excellent next step for WhiteHawk,” said Daniel C. Herz, Whitehawk CEO. “With these assets, WhiteHawk is continuing to execute on its business plan of acquiring mineral and royalty interests in the highest quality natural gas basins in North America, anchored by best-in-class operators. Natural gas continues to be a core element of the global economy and is needed to provide clean electricity for vehicle electrification, offer affordable energy for heating homes, and further drive energy security for the United States and our allies.”
E&P Highlights: March 20, 2023
2023-03-20 - Here’s a roundup of the latest E&P headlines, including a Black Sea discovery and new contract awards in the upstream oil and gas industry.
Koil Energy’s Full Plate
2023-02-17 - Koil Energy, formerly known as Deep Down, has rebranded as a full subsea systems provider and is providing multi quick connector plates for Beacon Offshore Energy’s Shenandoah project.
Guyana Kicks Off Oil Conference as Exxon Mulls Adding More Blocks
2023-02-14 - Exxon Mobil is working to increase Guyana production to 1.2 MMbbl/d by 2027 and possibly beyond, according to president of oil and gas production business Liam Mallon.
E&P Highlights: Jan. 26, 2023
2023-01-26 - Here’s a roundup of the latest E&P headlines including a production update from Tullow, an update on U.K. offshore opportunities and some contract announcements in the upstream oil and gas industry.
Subsea Tieback Round-Up: 2025 and Beyond
2023-03-07 - Here's a round-up of subsea tiebacks projects across the globe. The second in a two-part series, this report looks at some of the projects scheduled to come online in 2025 and beyond.