• WhiteHawk acquired additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54.0 million
• The acquisition increases WhiteHawk’s mineral and royalty ownership in its existing 475,000 gross acre position focused in Greene and Washington counties, Pennsylvania
• WhiteHawk’s acquisition increases its Marcellus Shale assets by 100%

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54.0 million. The acquisition increases WhiteHawk’s mineral and royalty ownership in its existing 475,000 gross acre position by 100% (collective with WhiteHawk’s existing position, the “Marcellus Assets”). WhiteHawk’s Marcellus Assets are primarily located in Washington and Greene counties, Pennsylvania, which represents some of the highest quality natural gas reserves in the United States.

“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,” stated Daniel C. Herz, Chief Executive Officer of WhiteHawk. “Since acquiring our initial mineral and royalty interests in the Marcellus Assets in 2022, the assets have performed very well and we are pleased to increase our ownership under some of the best natural gas operators in the world.”

WhiteHawk’s Marcellus Assets cover approximately 475,000 gross unit acres, with production from approximately 1,315 horizontal shale wells. Additionally, WhiteHawk owns mineral and royalty interests in 72 wells-in-progress, 64 permitted wells, and nearly 900 undeveloped Marcellus locations, with additional potential from the underlying Utica Shale. As a result of the acquisition, WhiteHawk will double its net revenue interest in each well across its Marcellus Assets. Approximately 95% of production, cash flow, and present value associated with the Marcellus Assets are operated by EQT Corporation (NYSE: EQT), Range Resources Corporation (NYSE: RRC) and CNX Resources Corporation (NYSE: CNX).

Earlier in 2023, WhiteHawk acquired natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres. Combined, WhiteHawk currently owns interests in approximately 850,000 gross unit acres within core operating areas of the Marcellus Shale and Haynesville Shale, with interests in more than 2,550 producing horizontal wells. The Company’s Haynesville Shale assets are actively being developed by Southwestern Energy, Chesapeake Energy, Aethon Energy Management and Comstock Resources. The Company’s Marcellus Shale assets cover 475,000 gross unit acres focused in Greene and Washington counties, Pennsylvania, and are predominately operated by EQT, Range Resources, and CNX Resources. The diversified position benefits from sales points in both the Northeast and Gulf Coast regions with combined operator market capitalization of approximately $50 billion.

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 visit 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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