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WhiteHawk Energy Secures $100M Finance Facility for Core Natural Gas Asset Acquisition

08/21/2023

WhiteHawk-Energy-Secures-100M-Finance-Facility-for-Core-Natural-Gas Asset-Acquisition
  • WhiteHawk secures $100 million finance facility with top-tier investor.
  • Initial $20 million drawn to fund Haynesville Shale assets, covering 375,000 acres.
  • Facility to fund further acquisitions as company grows.
  • Owns interests in Marcellus and Haynesville Shale, with 850,000 acres and 2,500+ producing wells.

WhiteHawk Energy LLC completed its second Haynesville Shale mineral and royalty acquisition of the year, spanning northwestern Louisiana and eastern Texas.

WhiteHawk also secured a $100 million acquisition finance facility from an undisclosed 'top tier institution.' The company will utilize $20 million from this facility to fund the Haynesville purchase from Mesa Minerals Partners II LLC

WhiteHawk manages

  • Around 850,000 gross unit acres in Marcellus and Haynesville Shale with interests in over 2,500 producing horizontal wells.
  • Approximately 375,000 gross unit acres actively developed by Southwestern Energy, Chesapeake Energy, Aethon Energy Management, and Comstock Resources.
  • Covering 475,000 gross unit acres in Greene and Washington Counties, Pennsylvania, mainly operated by EQT, Range Resources, and CNX Resources.
  • Benefits from sales points in both the Northeast and Gulf Coast regions with a combined operator market capitalization of about $40 billion.

Earlier in the year, WhiteHawk unveiled a $105 million acquisition of mineral and royalty interests in Haynesville, though a company official did not confirm if the January deal had closed.

WhiteHawk's CEO, Daniel C. Herz, expressed enthusiasm about the company's progress, stating in a news release: “This is an exciting day for WhiteHawk, as we take our next big step towards being the leading natural gas mineral and royalty company in the United States. Our partnership with one of the top institutional investors in the U.S. will help to accelerate WhiteHawk's consolidation of the highest quality natural gas mineral and royalty positions.” He further emphasized the opportunity to continue acquiring natural gas mineral and royalty assets in core basins with top-tier operators, highlighting the partnering institution's global leadership in investing and innovative energy and commodity risk management solutions.

About WhiteHawk Energy

WhiteHawk Energy, LLC specializes in acquiring mineral and royalty interests in leading natural gas resource areas, specifically the Haynesville and Marcellus Shales. With a management team that has effectively expanded over $13 billion worth of minerals, midstream, and exploration and development companies in the past two decades, WhiteHawk is a significant player in the energy sector.

Article Tags

2023
acquisition
acres
deal
Haynesville Shale
Louisiana
Marcellus
Mesa Minerals Partners
Rextag
Texas
WhiteHawk
WhiteHawk Energy

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