American Oil and Gas Reporter - October 2024 - 21

WhiteHawk Acquires
Mineral, Royalty Assets
In Marcellus Shale
PHILADELPHIA-WhiteHawk
Energy LLC says it has acquired
additional Marcellus Shale natural gas
mineral and royalty assets covering
435,000 gross unit acres across
southwestern Pennsylvania and northern
West Virginia.
" The Marcellus acquisition marks
our fifth acquisition to date and
complements our existing Marcellus
Shale and Haynesville Shale assets, "
says WhiteHawk Chief Executive
Officer Daniel C. Herz. " This
acquisition further adds additional
diversity and cash flow to
WhiteHawk's portfolio of core mineral
and royalty assets. Increasing our asset
base to include core positions in West
Virginia is an exciting next step for
WhiteHawk. "
He says the assets harmonize well
with the company's thesis of building
diversified acreage positions in the
core of well-established basins that are
operated by best-in-class companies
and generate significant cash flow
with no additional capital
expenditures. The company reports
that the acquisition puts its Marcellus
Shale asset base at about 700,000
gross unit acres, with production from
approximately 2,029 horizontal shale
wells. As of mid-September,
WhiteHawk also owns mineral and
royalty interests in 135 wells-inprogress,
76 permitted wells and 1,267
undeveloped Marcellus locations, with
additional Utica Shale potential.
According to WhiteHawk,
approximately 95% of the production,
cash flow and present value associated
with the Marcellus assets is operated by
EQT Corp., Range Resources Corp.,
CNX Resources Corp. or Antero
Resources Corp. ❒
Crescent Expands
Eagle Ford Footprint
HOUSTON-Crescent Energy Co.
says it is expanding its position in the
Central Eagle Ford by acquiring oil and
gas assets from a private operator for
$168 million.
Crescent describes the acquisition as
low-decline oil production that offsets
Crescent's existing footprint in Texas'
Frio, Atascosa, La Salle and McMullen
counties and offers potential for
meaningful operating efficiencies and
extended lateral lengths across
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OCTOBER 2024 21
Crescent's existing position. The
company adds that the purchase
includes approximately 5,300 net
royalty acres and more than 3,500
surface acres.
" This transaction builds upon our
momentum in the Eagle Ford, where
we see substantial opportunity for
further growth and compelling
investment returns, " relates Crescent
Chief Executive Officer David
Rockecharlie. " We are adding lowdecline
oil production and
high-quality acreage adjacent to our
existing position, with meaningful
opportunity to further increase returns
through improved operating
efficiency. We are pleased with this
attractive acquisition, and we believe
in our ability to continue to
accretively scale Crescent. " ❒
Viper Companies Add
Midland Basin Acreage
MIDLAND-Diamondback Energy
subsidiaries Viper Energy Inc. and
Viper Energy Partners LLC have
agreed to acquire certain mineral and
royalty interest owning subsidiaries
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American Oil and Gas Reporter - October 2024

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