WhiteHawk expands Marcellus Shale assets with $118-million acquisition

PHILADELPHIA, April 1, 2025 – WhiteHawk Energy has acquired additional natural gas assets in the USA’s Marcellus Shale for USD 118 million, doubling its ownership interest across 475,000 acres, the company said on Tuesday.

The transaction strengthens WhiteHawk’s position in Washington and Greene counties, Pennsylvania.

EQT, Range Resources, CNX Resources and Antero Resources operate approximately 95% of the production, cashflow and present value from the assets.

The deal is effective from January 1, 2025.

WhiteHawk’s Marcellus Shale holdings now span around 675,000 gross acres, with production from approximately 2,068 horizontal shale wells.

The company also holds mineral and royalty interests in 141 wells-in-progress, 66 permitted wells and 1,713 undeveloped Marcellus locations, with additional potential from the underlying Utica Shale.

“The 2025 Marcellus acquisition provides WhiteHawk additional production, line-of-site development, undeveloped inventory and cash flow from our core Appalachia position,” WhiteHawk Energy CEO Daniel C. Herz said.

“Today’s transaction marks our sixth acquisition over the last three years and the third acquisition of royalty interests on these assets, which have continuously outperformed our expectations, and fully consolidates these positions into WhiteHawk. This Marcellus Shale acquisition is the ideal natural gas minerals position, combining best-in-class natural gas operators, proven and predictable production, and the lowest break-even drilling costs in the US.”

In addition to its Marcellus assets, WhiteHawk holds natural gas mineral and royalty interests in the Haynesville Shale, covering approximately 375,000 gross acres with 1,371 producing horizontal shale wells.

The Haynesville assets are being developed by Expand Energy, Aethon Energy Management and Comstock Resources.

WhiteHawk previously agreed to acquire further natural gas mineral and royalty assets in the Marcellus Shale in November 2023 from an undisclosed company for USD 54 million.

Philadelphia-headquartered WhiteHawk Energy is focused on acquiring and managing natural gas mineral and royalty interests, with core assets in the Marcellus and Haynesville shale plays.

Read our latest insights on: