WhiteHawk Energy Gobbles Up More Natural Gas Assets in Marcellus Shale

WhiteHawk Energy LLC said it acquired additional Marcellus Shale natural gas mineral and royalty assets from an undisclosed seller for $54 million.

The acquisition increases the Philadelphia-based company’s mineral and royalty ownership in its existing 475,000 gross acre position in the Marcellus by 100%. The assets are mostly in Washington and Greene counties of Pennsylvania. They are primarily operated by EQT Corp., Range Resources Corp. and CNX Resources Corp.

“These assets include all the ideal mineral and royalty attributes – 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,” said Daniel Herz, WhiteHawk’s CEO.

The company initially...