WhiteHawk Energy LLC increased ownership in its Marcellus shale natural gas mineral and royalty assets in Greene and Washington Counties, Pa., for $54 million. The acquisition will double WhiteHawk’s net revenue from its existing acreage.
WhiteHawk’s Marcellus assets cover about 475,000 gross unit acres, with production from about 1,315 horizontal shale wells and mineral and royalty interests in 72 wells-in-progress, 64 permitted wells, and nearly 900 undeveloped Marcellus locations. Additional potential comes from the underlying Utica Shale.
The assets are predominantly operated by EQT Corp., Range Resources Corp., and CNX Resources.
Earlier in 2023, WhiteHawk acquired natural gas mineral and royalty assets in the Haynesville shale, covering about 375,000 gross unit acres. Combined, WhiteHawk currently owns interests in about 850,000 gross unit acres within core operating areas of the Marcellus and Haynesville shales, with interests in more than 2,550 producing horizontal wells.