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WhiteHawk Energy Announces Agreement to Acquire Core Haynesville Shale Natural Gas Mineral and Royalty Assets for up to $105 Million

By: via Business Wire
  • WhiteHawk to acquire Haynesville Shale mineral and royalty assets covering 375,000 gross unit acres
  • Mineral and royalty assets operated by basin’s top operators, including Southwestern Energy, Chesapeake Energy, Aethon Energy Management and Comstock Resources
  • Assets to be acquired include production from over 1,230 horizontal wells, 157 line of site wells and 44 permitted wells all in the core of the Haynesville Shale
  • Pro Forma for the acquisition, WhiteHawk will own minerals and royalties in the core of the Marcellus Shale and Haynesville Shale across over 850,000 gross unit acres and over 2,300 producing horizontal shale wells

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today a definitive agreement (“Haynesville Agreement”) to acquire up to $105 million of natural gas mineral and royalty assets primarily located in northwestern Louisiana (“Haynesville Royalties”). The Haynesville Royalties are focused in the core of the basin, representing some of the highest quality natural gas reserves in the United States. WhiteHawk’s position will cover 375,000 gross unit acres in the Haynesville Shale. The Haynesville Royalties are being actively developed by best-in-class natural gas operators Southwestern Energy, Chesapeake Energy, Aethon Energy Management and Comstock Resources. Under the Haynesville Agreement, WhiteHawk will acquire up to $105 million of the Haynesville Royalties with an initial effective date of February 1, 2023.

WhiteHawk management expects the Haynesville Royalties to be a strong compliment to the Company’s existing high-quality natural gas mineral and royalty assets. During 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, anchored by some of the best natural gas operators in the country with combined market capitalization of approximately $40 billion. The diversified position will benefit from sales points in both the Northeast and Gulf Coast regions.

“The acquisition of the Haynesville Royalties is an excellent next step for WhiteHawk,” says Daniel C. Herz, Chief Executive Officer of WhiteHawk. “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.”

About WhiteHawk Energy

WhiteHawk Energy, LLC is focused on acquiring mineral and royalty interests in top tier natural gas resource plays, including the Haynesville and Marcellus Shales. The management team at WhiteHawk has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years. Please go to www.whitehawkenergy.com for more information.

Advisors

Shearman & Sterling LLP acted as legal counsel to WhiteHawk and UBS Investment Bank acted as financial advisor.

For more information, please visit the Company’s website at www.whitehawkenergy.com, or contact its corporate relations department at jslotterback@whitehawkenergy.com.

Cautionary Note Regarding Forward-Looking Statements

Certain matters discussed within this press release are forward-looking statements. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The Company does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. The Company cautions readers that any forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about future financial and operating results, resource potential, and the Company’s plans, objectives, expectations, intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production; tax consequences of potential balance sheet and other transactions; and global health conditions, including the impact of COVID-19. Forward-looking statements speak only as of the date hereof, and the Company assumes no obligation to update such statements, except as may be required by applicable law.

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