WhiteHawk Energy Acquires Natural Gas Mineral and Royalty Interests Across 475,000 Gross Unit Acres in Core of Marcellus Shale

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today an acquisition which increased its interest in its existing Marcellus Shale minerals and royalties position (“2025 Marcellus Acquisition”). This $118 million transaction doubles the Company’s present ownership interest in a portion of its Marcellus Shale royalties position (across 475,000 gross unit acres) primarily focused in Washington and Greene counties, Pennsylvania. The transaction has an effective date of January 1, 2025. The assets are 95% operated by best-in-class natural gas operators EQT (NYSE: EQT), Range Resources (NYSE: RRC), and CNX Resources (NYSE: CNX), and have continued to perform above expectations since WhiteHawk’s initial acquisition of this position in March 2022.

“The 2025 Marcellus Acquisition provides WhiteHawk additional production, line-of-site development, undeveloped inventory and cash flow from our core Appalachia position. 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,” stated Daniel C. Herz, Chief Executive Officer of 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 U.S.”

WhiteHawk’s consolidated Marcellus Shale assets cover approximately 675,000 gross unit acres, with production from approximately 2,068 horizontal shale wells. Additionally, WhiteHawk owns 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. Approximately 95% of production, cash flow, and present value associated with the Marcellus assets are operated by EQT, Range Resources, CNX Resources, and Antero Resources (NYSE: AR).

WhiteHawk also owns natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres and approximately 1,371 producing horizontal shale wells. Additionally, WhiteHawk owns mineral and royalty interests in 127 wells-in-progress, 189 permitted wells, and 966 undeveloped Haynesville locations. The Company’s Haynesville Shale assets are actively being developed by Expand Energy (NASDAQ: EXE), Aethon Energy Management and Comstock Resources (NYSE: CRK).

About WhiteHawk Energy

WhiteHawk Energy, LLC is focused on acquiring mineral and royalty interests in top tier natural gas resource plays, including the Haynesville and Marcellus Shales. The management team at WhiteHawk has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years. Please go to www.whitehawkenergy.com for more information.

Advisors

Weil, Gotshal & Manges LLP acted as legal counsel to WhiteHawk.

For more information, please visit the Company’s website at www.whitehawkenergy.com, or contact its corporate relations department at jslotterback@whitehawkenergy.com.

Cautionary Note Regarding Forward-Looking Statements

Certain matters discussed within this press release are forward-looking statements. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The Company does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. The Company cautions readers that any forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about future financial and operating results, resource potential, and the Company’s plans, objectives, expectations, intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production; tax consequences of potential balance sheet and other transactions; and global health conditions, including the impact of COVID-19. Forward-looking statements speak only as of the date hereof, and the Company assumes no obligation to update such statements, except as may be required by applicable law.

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