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. (Source: Shutterstock.com)
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.”
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