WhiteHawk Minerals Corp. Announces $111.8 Million of Acquisitions, Second Quarter 2026 Results, and Initiation of Quarterly Dividend
Key Terms
mmcfe/d technical
cash available for distribution financial
non-gaap financial
hedge settlements financial
series e preferred stock financial
Nine Acquisitions Totaling
Record Production of 70.0 MMcfe/d for the Second Quarter 2026, Up
Initiates Quarterly Cash Dividend of
Second Quarter 2026 and Recent Highlights
-
Signed nine acquisitions totaling
$111.8 million Utica , and Haynesville Shale natural gas mineral and royalty interests since the Company’s June 10, 2026 IPO, each of which are expected to be accretive and are expected to add in aggregate approximately$17.0 million $18.5 million -
Net production of 70.0 MMcfe/d, an increase of
57% over the prior year quarter and9% over the first quarter 2026 -
Total revenue of
$29.1 million $6.7 million $3.3 million 38% over the prior year quarter -
Realized natural gas price of
$3.43 $2.42 -
Net loss of
$39.2 million $21.7 million $15.8 million -
Adjusted EBITDA of
$20.7 million $17.4 million $0.63 $0.96 -
Initiated a quarterly cash dividend of
$0.50 $2.00 $0.11 -
Cash and cash equivalents of
$13.2 million $68.7 million $150 million - Inclusive of the Company’s signed acquisitions, WhiteHawk will own mineral and royalty interests across approximately 3.6 million gross unit acres, with cash flow from more than approximately 11,600 producing wells, 365 wells in process, 205 permitted wells and 9,200 undeveloped locations
Management Comments
“In our first months as a public company, WhiteHawk has demonstrated well our unique value proposition,” stated Daniel Herz, Chairman, President and Chief Executive Officer of WhiteHawk. “We benefit directly from our best-in-class operators’ performance and growth potential, with no associated capital expenditures, and minimal operating expenses. Furthermore, we have successfully executed on our dual prong acquisition strategy, driving free cash flow and net asset value per share, signing definitive agreements for both a large strategic transaction, as well as ground game transactions. We expect these attributes to drive meaningful value for shareholders in the short, medium and long term.”
Acquisition Update
Since the completion of the company’s IPO, WhiteHawk has signed definitive agreements for nine acquisitions of natural gas mineral and royalty interests in the Marcellus,
“We are pleased to be adding significant positions in the core of Appalachia and the Haynesville at valuations well within our target return parameters,” said Matthew Heinlein, Vice President & Head of Corporate Development and Strategy. “With the majority of the purchase price allocated to SJM II’s Marcellus and
- Appalachia: approximately 600,000 gross unit acres anchored by EQT Corporation (NYSE: EQT) (“EQT”), Range Resources Corporation (NYSE: RRC) (“Range”), CNX Resources Corporation (NYSE: CNX) (“CNX”), and Antero Resources Corporation (NYSE: AR) (“Antero”)
- Haynesville: approximately 100,000 gross unit acres anchored by Expand Energy Corporation (NASDAQ: EXE) (“Expand”), Apex Energy LLC (“Apex”), and Adamas Energy LLC (“Adamas”)
WhiteHawk's signed acquisitions including both ground game and SJM II, include more than 1,700 producing wells, 160 wells in process, 85 permitted locations, and 2,500 undeveloped locations. The assets to be acquired are expected to generate approximately 16 million cubic feet equivalent per day (“MMcfe/d”) and 17 MMcfe/d in 2027 and 2028, respectively. The added production is anticipated to add approximately
WhiteHawk expects to fund the
Summary of Acquisitions Signed Since IPO
Metric |
Amount |
Number of acquisitions |
9 transactions |
Total purchase price |
|
Gross unit acres |
~700,000 |
Net royalty acres (normalized to 1/8th) |
11,810 |
Average NRI |
|
Producing (PDP) locations |
>1,700 |
Wells in process and permits |
>245 |
Undeveloped locations |
>2,500 |
Operations Update
WhiteHawk’s second quarter net production averaged 70.0 MMcfe/d, an increase of
During the last twelve months, 525 gross wells (1.91 net wells) were turned in line across WhiteHawk’s acreage.
In Appalachia the Company’s four largest operators (EQT, Antero, Range and CNX) represented
In the Haynesville the Company’s four largest operators (Expand, Adamas, Comstock Resources Inc (NYSE: CRK) (“Comstock”) and Tokyo Gas Co. Ltd (“Tokyo Gas”)) represented
Second Quarter 2026 Financial Results
Total revenue of
WhiteHawk’s Adjusted EBITDA was
Net loss for the second quarter of 2026 was
Financial Results
| WhiteHawk Minerals Corp. | ||||||||
| SELECTED OPERATING DATA | ||||||||
| (Unaudited) | ||||||||
Three Months Ended |
||||||||
June 30, |
||||||||
|
2026 |
|
|
|
2025 |
|
||
| Production Data: | ||||||||
| Natural gas (Mcf) |
|
5,384,204 |
|
|
3,770,877 |
|||
| Oil (Bbls) |
|
53,847 |
|
|
4,905 |
|||
| Natural gas liquids (Bbls) |
|
110,353 |
|
|
43,885 |
|||
| Combined volumes (Mcfe) |
|
6,369,404 |
|
|
4,063,617 |
|||
| Average daily combined volume (Mcfe/d) |
|
69,993 |
|
|
44,655 |
|||
| Average sales prices: | ||||||||
| Natural gas (Mcf) | $ |
2.42 |
|
$ |
2.78 |
|||
| Oil (Bbls) | $ |
93.00 |
|
$ |
61.94 |
|||
| Natural gas liquids (Bbls) | $ |
29.07 |
|
$ |
23.54 |
|||
| Combined per Mcfe | $ |
3.34 |
|
$ |
2.91 |
|||
| Average realized price after effects of hedge settlements: | ||||||||
| Natural gas (Mcf) | $ |
3.43 |
|
$ |
3.30 |
|||
| Oil (Bbls) | $ |
71.58 |
|
$ |
61.94 |
|||
| Combined per Mcfe | $ |
4.02 |
|
$ |
3.39 |
|||
| WhiteHawk Minerals Corp. | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (In thousands, except per share amounts) | ||||||||
| (Unaudited) | ||||||||
Three Months Ended |
||||||||
June 30, |
||||||||
|
2026 |
|
|
|
2025 |
|
||
| Revenues: | ||||||||
| Royalty revenue | $ |
17,813 |
|
$ |
10,306 |
|
||
| Gain (loss) on commodity derivative instruments |
|
10,984 |
|
|
10,726 |
|
||
| Lease bonus and other revenue |
|
280 |
|
|
85 |
|
||
| Total revenue |
|
29,077 |
|
|
21,117 |
|
||
| Operating expenses: | ||||||||
| General and administrative |
|
4,379 |
|
|
9,596 |
|
||
| Management fees |
|
15,841 |
|
|
2,173 |
|
||
| Depletion, depreciation and accretion |
|
10,198 |
|
|
5,978 |
|
||
| Total operating expenses |
|
30,418 |
|
|
17,747 |
|
||
| Operating income (loss) |
|
(1,341 |
) |
|
3,370 |
|
||
| Other expense: | ||||||||
| Loss on extinguishment of debt |
|
21,722 |
|
|
3,839 |
|
||
| Change in fair value of earnout liability |
|
1,694 |
|
|
- |
|
||
| Interest expense, net |
|
5,034 |
|
|
4,345 |
|
||
| Income (loss) before income taxes |
|
(29,791 |
) |
|
(4,814 |
) |
||
| Provision for (benefit from) income taxes |
|
9,414 |
|
|
(4,595 |
) |
||
| Net income (loss) |
|
(39,205 |
) |
|
(219 |
) |
||
| Net (income) loss attributable to non-controlling interests |
|
115 |
|
|
- |
|
||
| Earnings allocated to participating securities |
|
(4,420 |
) |
|
(2,367 |
) |
||
| Net income (loss) attributable to common stockholders | $ |
(43,510 |
) |
$ |
(2,586 |
) |
||
| Net income (loss) per common share attributable to common stockholders: | ||||||||
| Class A common shares (basic and diluted) | $ |
(2.54 |
) |
$ |
(0.47 |
) |
||
| WhiteHawk Minerals Corp. | ||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| (In thousands) | ||||||||
| (Unaudited) | ||||||||
June 30, |
|
December 31, |
||||||
| ASSETS |
|
2026 |
|
|
|
2025 |
|
|
| Current assets: | ||||||||
| Cash and cash equivalents | $ |
13,229 |
|
$ |
28,989 |
|
||
| Accounts receivable |
|
8,637 |
|
|
10,176 |
|
||
| Short-term derivative asset |
|
8,532 |
|
|
5,349 |
|
||
| Other current assets |
|
2,150 |
|
|
1,410 |
|
||
| Total current assets |
|
32,548 |
|
|
45,924 |
|
||
| Natural gas and oil mineral interests, net - successful efforts method |
|
477,633 |
|
|
460,586 |
|
||
| Other property and equipment, net |
|
215 |
|
|
275 |
|
||
| Other assets |
|
7,892 |
|
|
353 |
|
||
| Total assets | $ |
518,288 |
|
$ |
507,138 |
|
||
| LIABILITIES , MEZZANINE EQUITY AND EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ |
9,020 |
|
$ |
1,177 |
|
||
| Accrued liabilities |
|
3,300 |
|
|
1,158 |
|
||
| Accrued dividends |
|
- |
|
|
7,516 |
|
||
| Senior notes, current portion |
|
- |
|
|
6,275 |
|
||
| Earnout liability, current portion |
|
10,841 |
|
|
- |
|
||
| Operating lease liabilities, current portion |
|
179 |
|
|
176 |
|
||
| Total current liabilities |
|
23,340 |
|
|
16,302 |
|
||
| Senior notes, net of unamortized debt issuance costs and current portion |
|
68,070 |
|
|
227,985 |
|
||
| Deferred tax liability |
|
- |
|
|
21,329 |
|
||
| Operating lease liabilities, net of current portion |
|
31 |
|
|
121 |
|
||
| Earnout liability, net of current portion |
|
15,076 |
|
|
- |
|
||
| Long-term derivative liability |
|
801 |
|
|
4,669 |
|
||
| Asset retirement obligation |
|
329 |
|
|
316 |
|
||
| Total liabilities |
|
107,647 |
|
|
270,722 |
|
||
| Mezzanine equity: | ||||||||
| Series B Preferred Stock |
|
34,763 |
|
|
27,662 |
|
||
| Equity: | ||||||||
| Class A common stock |
|
- |
|
|
- |
|
||
| Class T common stock |
|
- |
|
|
- |
|
||
| Class I common stock |
|
- |
|
|
- |
|
||
| Class B common stock |
|
- |
|
|
- |
|
||
| Additional paid in capital |
|
333,792 |
|
|
223,900 |
|
||
| Accumulated deficit |
|
(55,299 |
) |
|
(15,146 |
) |
||
| Shareholders' equity of WhiteHawk Minerals Corp. |
|
278,493 |
|
|
208,754 |
|
||
| Non-controlling interest |
|
97,385 |
|
|
- |
|
||
| Total equity |
|
375,878 |
|
|
208,754 |
|
||
| Total liabilities, mezzanine equity and equity | $ |
518,288 |
|
$ |
507,138 |
|
||
| WhiteHawk Minerals Corp. | ||||||||
| CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | ||||||||
| (In thousands) | ||||||||
| (Unaudited) | ||||||||
Six Months Ended
|
||||||||
|
2026 |
|
|
|
2025 |
|
||
| Cash flow from operating activities: | ||||||||
| Net income (loss) | $ |
(40,268 |
) |
$ |
(8,312 |
) |
||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
| Unrealized (gain) loss on commodity derivative instruments |
|
(7,051 |
) |
|
(370 |
) |
||
| Depletion, depreciation and accretion |
|
19,863 |
|
|
9,177 |
|
||
| Stock-based compensation |
|
1,408 |
|
|
- |
|
||
| Amortization of debt issuance costs |
|
496 |
|
|
364 |
|
||
| Loss on extinguishment of debt |
|
21,722 |
|
|
3,839 |
|
||
| Change in fair value of earnout liability |
|
1,694 |
|
|
- |
|
||
| Deferred income taxes |
|
5,932 |
|
|
(4,595 |
) |
||
| Changes in operating assets and liabilities (net of assets and liabilities acquired) | ||||||||
| Accounts receivable |
|
1,539 |
|
|
(4,371 |
) |
||
| Other current assets |
|
(740 |
) |
|
(801 |
) |
||
| Other assets |
|
(274 |
) |
|
1,097 |
|
||
| Accounts payable |
|
7,842 |
|
|
(830 |
) |
||
| Accrued liabilities and other liabilities |
|
(5,461 |
) |
|
833 |
|
||
| Net cash provided by (used in) operating activities |
|
6,702 |
|
|
(3,969 |
) |
||
| Cash flows from investing activities: | ||||||||
| Purchases of oil and gas properties, net of post-close adjustments |
|
(36,836 |
) |
|
(115,003 |
) |
||
| Internalization, net of cash |
|
(2,882 |
) |
|
- |
|
||
| Acquisition of PHX, net of cash |
|
- |
|
|
(192,782 |
) |
||
| Net cash provided by (used in) investing activities |
|
(39,718 |
) |
|
(307,785 |
) |
||
| Cash flows from financing activities: | ||||||||
| Proceeds from Senior Notes |
|
- |
|
|
186,000 |
|
||
| Repayment of Senior Notes |
|
(187,410 |
) |
|
(3,250 |
) |
||
| Deferred financing costs |
|
(8,222 |
) |
|
(5,712 |
) |
||
| Proceeds from the issuance of common stock, net |
|
214,389 |
|
|
105,805 |
|
||
| Proceeds from the issuance of Series B preferred stock, net |
|
18,541 |
|
|
7,520 |
|
||
| Proceeds from the issuance of Series C preferred stock, net |
|
- |
|
|
56,000 |
|
||
| Proceeds from the issuance of Series D preferred stock, net |
|
37,768 |
|
|
- |
|
||
| Common stock redemptions |
|
(854 |
) |
|
(140 |
) |
||
| Series A Preferred Stock redemptions |
|
- |
|
|
(19,000 |
) |
||
| Series B Preferred Stock redemptions |
|
(10,182 |
) |
|
- |
|
||
| Series D Preferred Stock redemptions |
|
(37,780 |
) |
|
- |
|
||
| Dividends paid to Series A Preferred Stock |
|
- |
|
|
(794 |
) |
||
| Dividends paid to Series B Preferred Stock |
|
(1,258 |
) |
|
(615 |
) |
||
| Dividends paid to Series C Preferred Stock |
|
- |
|
|
(2,041 |
) |
||
| Dividends paid to Series D Preferred Stock |
|
(3,022 |
) |
|
- |
|
||
| Dividends paid to common stock |
|
(4,662 |
) |
|
(4,393 |
) |
||
| Dividend equivalent rights paid |
|
(52 |
) |
|
- |
|
||
| Net cash provided by (used in) financing activities |
|
17,256 |
|
|
319,380 |
|
||
| Net increase (decrease) in cash and cash equivalents |
|
(15,760 |
) |
|
7,626 |
|
||
| Cash and cash equivalents, beginning of period |
|
28,989 |
|
|
5,330 |
|
||
| Cash and cash equivalents, end of period | $ |
13,229 |
|
$ |
12,956 |
|
||
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid for interest | $ |
10,954 |
|
$ |
5,915 |
|
||
| Cash paid for income taxes | $ |
1,898 |
|
$ |
- |
|
||
| Non-cash investing and financing activities: | ||||||||
| Dividends paid to common stock holders through common stock issuances pursuant to distribution reimbursement plan | $ |
1,534 |
|
$ |
- |
|
||
| Change in dividends declared but not yet paid | $ |
(7,542 |
) |
$ |
1,728 |
|
||
Non-GAAP financial measures
Adjusted EBITDA for the second quarter of 2026 was
Adjusted EBITDA, Cash Available for Distribution, and CAD per Share are supplemental non-GAAP financial measures used by WhiteHawk's management and by external users of the Company's financial statements such as investors, research analysts and others that the Company’s management believes are useful to assess the financial performance of the Company’s assets and their ability to sustain dividends and/or share repurchases over the long term without regard to financing methods, capital structure or historical cost basis. WhiteHawk defines Adjusted EBITDA as net income (loss) before interest expense, income taxes, and depletion, depreciation and accretion, further adjusted to exclude stock-based compensation, loss on extinguishment of debt, changes in the fair value of the earnout liability, non-recurring management and incentive fees, and unrealized gains and losses on commodity derivative instruments. We reconcile Adjusted EBITDA to net income (loss), its most directly comparable GAAP measure.
We define Cash Available for Distribution as net cash provided by operating activities excluding amortization of debt issuance costs, interest expense, net, transaction costs, deferred taxes, provision for income taxes, management fees, and changes in operating assets and liabilities, plus or minus amounts for certain non-cash operating activities, cash interest expense, cash taxes and cash preferred dividends. We reconcile Cash Available for Distribution to net cash provided by operating activities, its most directly comparable GAAP measure. We define CAD per Share as Cash Available for Distribution divided by [the number of shares of Class A common stock and Class B common stock outstanding at the end of the applicable period]. We reconcile CAD per Share to net cash provided by operating activities per share, its most directly comparable GAAP measure.
Adjusted EBITDA, Cash Available for Distribution and CAD per Share do not represent and should not be considered alternatives to, or more meaningful than, their most directly comparable GAAP financial measures or any other measure of financial performance presented in accordance with GAAP as measures of the Company’s financial performance. The Company’s non-GAAP financial measures have important limitations as analytical tools because they exclude some but not all items that affect the most directly comparable GAAP financial measure. The Company’s computations of Adjusted EBITDA, Cash Available for Distribution and CAD per Share may differ from computations of similarly titled measures of other companies.
Certain forward-looking statements in this press release, including expected accretive impact of the pending acquisitions to Cash Available for Distribution per Share and net asset value per share, include or may reference forward-looking non-GAAP financial measures. Due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred, including commodity prices, production volumes, operating costs and other factors, the Company has not provided a reconciliation to the most comparable forward-looking GAAP measures. The variability of these items may have a significant impact on the Company’s future GAAP financial results.
Reconciliation of Net Income (Loss) to Adjusted EBITDA (in thousands) |
|||||
| Three Months | |||||
| Ended | |||||
| June 30, 2026 | |||||
| Net income (loss) | $ |
(39,205 |
) |
||
| Interest expense, net |
|
5,034 |
|
||
| Depletion, depreciation and accretion |
|
10,198 |
|
||
| Income tax expense (benefit) |
|
9,414 |
|
||
| Management fees |
|
15,841 |
|
||
| Unrealized loss (gain) on commodity derivative instruments |
|
(6,655 |
) |
||
| Loss on extinguishment of debt |
|
21,722 |
|
||
| Stock-based compensation |
|
925 |
|
||
| Change in fair value of earnout liability |
|
1,694 |
|
||
| Transaction costs |
|
1,691 |
|
(a) | |
| Adjusted EBITDA | $ |
20,659 |
|
||
(a) Reflects the inclusion of non-recurring transaction expenses associated with the Company’s initial public offering |
|||||
Reconciliation of Cash Provided by Operating Activities to Cash Available for Distribution (in thousands, except share and per share amounts) |
|||||
| Three Months | |||||
| Ended | |||||
| June 30, 2026 | |||||
| Net cash provided by operating activities | $ |
3,861 |
|
||
| Amortization of debt issuance costs |
|
(299 |
) |
||
| Interest expense, net |
|
5,034 |
|
||
| Change in deferred income taxes |
|
(6,004 |
) |
||
| Income tax expense (benefit) |
|
9,414 |
|
||
| Management fees |
|
15,841 |
|
||
| Transaction costs |
|
1,691 |
|
(a) | |
| Changes in operating assets and liabilities |
|
(8,880 |
) |
||
| Cash interest expense, net |
|
(1,587 |
) |
(b) | |
| Cash income taxes |
|
(550 |
) |
(c) | |
| Preferred dividends |
|
(1,163 |
) |
(d) | |
| Cash available for distribution | $ |
17,358 |
|
||
| Cash available for distribution per share | |||||
| Class A common stock outstanding |
|
23,795,450 |
|
||
| Class B common stock outstanding |
|
3,750,000 |
|
||
| Common stock outstanding |
|
27,545,450 |
|
||
| CAD per Share | $ |
0.63 |
|
||
(a) |
|
Reflects the inclusion of non-recurring transaction expenses associated with the Company’s initial public offering. |
(b) |
|
Reflects a |
(c) |
|
Reflects a |
(d) |
|
Reflects a |
Initiation of Quarterly Dividend
Consistent with the dividend policy outlined at the time of its initial public offering, the Board of Directors of WhiteHawk has authorized the initiation of a quarterly cash dividend on the Company’s Class A common stock at a rate of
WhiteHawk intends to continue to return a significant portion of its Cash Available for Distribution to shareholders through quarterly dividends, with remaining cash flow reinvested into accretive mineral and royalty acquisitions. Prior to the IPO, WhiteHawk paid dividends monthly and delivered 49 consecutive months of dividends to its equity holders.
Capitalization and Liquidity
WhiteHawk completed its IPO on June 10, 2026, issuing 7.7 million Class A common shares for gross proceeds of
Net debt, which is defined as total debt outstanding less cash and cash equivalents at the end of the period, was
(1) |
|
Calculated by dividing the sum of total debt outstanding less cash on hand as of June 30, 2026 by Adjusted EBITDA for the trailing 12-month period. Please refer to the disclosure above for the reconciliation of Adjusted EBITDA to Net income (loss). |
Derivatives
As of August 12, 2026, the Company had the following open hedge contracts:
| Period and Type of Contract | Volume (MMBtu) | Weighted Average Price (Per MMBtu) |
|||||||
Natural Gas Fixed Price Swaps: |
|||||||||
2026 |
|
||||||||
Third Quarter |
|
3,407,000 |
$ |
4.05 |
|
||||
Fourth Quarter |
|
5,494,000 |
$ |
4.06 |
|
||||
2027 |
|
||||||||
First Quarter |
|
5,197,000 |
$ |
3.98 |
|
||||
Second Quarter |
|
5,035,000 |
$ |
3.85 |
|
||||
Third Quarter |
|
5,088,000 |
$ |
3.85 |
|
||||
Fourth Quarter |
|
5,130,000 |
$ |
3.85 |
|
||||
2028 |
|
||||||||
First Quarter |
|
4,787,000 |
$ |
3.75 |
|
||||
Second Quarter |
|
4,653,000 |
$ |
3.71 |
|
||||
Third Quarter |
|
4,648,000 |
$ |
3.65 |
|
||||
Fourth Quarter |
|
4,611,000 |
$ |
3.65 |
|
||||
2029 |
|
||||||||
First Quarter |
|
3,624,000 |
$ |
3.64 |
|
||||
Second Quarter |
|
533,000 |
$ |
3.38 |
|
||||
Period and Type of Contract |
|
Volume (MMBtu) | Weighted Average Price (Per MMBtu) |
||||||
Natural Gas TETCO M2 Fixed Price Swaps: |
|
||||||||
2026 |
|
||||||||
Third Quarter |
|
1,310,000 |
$ |
(1.07 |
) |
||||
Fourth Quarter |
|
1,979,000 |
$ |
(1.07 |
) |
||||
2027 |
|
||||||||
First Quarter |
|
2,035,000 |
$ |
(1.03 |
) |
||||
Second Quarter |
|
1,857,000 |
$ |
(1.04 |
) |
||||
Third Quarter |
|
1,872,000 |
$ |
(1.03 |
) |
||||
Fourth Quarter |
|
1,886,000 |
$ |
(1.04 |
) |
||||
2028 |
|
||||||||
First Quarter |
|
1,702,000 |
$ |
(0.89 |
) |
||||
Second Quarter |
|
1,114,000 |
$ |
(0.85 |
) |
||||
Third Quarter |
|
1,118,000 |
$ |
(0.86 |
) |
||||
Fourth Quarter |
|
1,122,000 |
$ |
(0.84 |
) |
||||
2029 |
|
||||||||
First Quarter |
|
981,000 |
$ |
(0.84 |
) |
||||
Second Quarter |
|
291,000 |
$ |
(1.03 |
) |
||||
|
|
||||||||
Period and Type of Contract |
|
Volume (Bbls) | Weighted Average Price (Per Bbl) |
||||||
WTI Fixed Price Swaps: |
|
||||||||
2026 |
|
||||||||
Third Quarter |
|
29,000 |
$ |
62.38 |
|
||||
Fourth Quarter |
|
41,000 |
$ |
62.04 |
|
||||
2027 |
|
||||||||
First Quarter |
|
40,000 |
$ |
61.74 |
|
||||
Second Quarter |
|
38,000 |
$ |
62.52 |
|
||||
Third Quarter |
|
38,000 |
$ |
62.61 |
|
||||
Fourth Quarter |
|
38,000 |
$ |
62.71 |
|
||||
2028 |
|
||||||||
First Quarter |
|
38,000 |
$ |
62.74 |
|
||||
Second Quarter |
|
26,000 |
$ |
64.41 |
|
||||
Third Quarter |
|
27,000 |
$ |
64.41 |
|
||||
Fourth Quarter |
|
27,000 |
$ |
64.39 |
|
||||
2029 |
|
||||||||
First Quarter |
|
9,000 |
$ |
64.45 |
|
||||
|
|
||||||||
|
|
|
|
Weighted Average |
|
Weighted Average |
|||
Period and Type of Contract |
|
Volume (MMBtu) |
|
Floor Price (Per MMBtu) |
|
Ceiling Price (Per MMBtu) |
|||
Natural Gas Collar Contracts: |
|
||||||||
2026 |
|
||||||||
Third Quarter |
|
200,000 |
$ |
3.00 |
|
$ |
3.60 |
||
Conference Call
WhiteHawk will host a conference call and webcast to discuss its second quarter 2026 results on August 13, 2026 at 9:00 a.m. Eastern Time. A live webcast and accompanying presentation materials will be available in the Investors section of the Company’s website at www.whitehawkminerals.com, where a replay will be archived following the call.
About WhiteHawk Minerals Corp.
WhiteHawk Minerals Corp. (NYSE: WHK) is a natural gas-focused mineral and royalty company positioned in the core of the Marcellus,
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, statements regarding the Company’s expectations with respect to the closing, funding and financial impact of the acquisitions described herein, including the expected purchase price, target cash flow multiple and accretive impact of such acquisitions; the Company’s expectations regarding the production and cash flow contributions of the assets to be acquired, including the expectation that such assets will generate approximately 16MMcfe/d and 17MMcfe/d of production and approximately
Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: changes in commodity prices; the pace and extent of AI-related electricity demand and LNG export development; the Company’s ability to negotiate, execute and consummate definitive documentation for, and to close, the pending acquisitions on the anticipated timeline or at all, including the risk that a counterparty may fail to satisfy closing conditions or otherwise fail to perform under the applicable purchase and sale agreement; the risk that the actual purchase price, cash flow multiple or other economic terms of the pending or future acquisitions may differ from the estimates presented herein; the risk that production and cash flow contributions from assets to be acquired may differ materially from the expectations described herein due to commodity price fluctuations, operator activity levels, well performance and other factors; the availability and terms of financing for the pending acquisitions, including the Series E Preferred Stock offering and borrowings under the Company’s revolving credit facility, and the risk that such financing may not be obtained on the anticipated terms, in the anticipated amounts, on the expected timeline or at all; the Company’s ability to identify and consummate additional acquisitions on favorable terms and to obtain financing therefor; operator drilling and completion activity on the Company’s acreage; regulatory changes; general economic and market conditions; and the risks described under “Risk Factors” in the Company’s filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20260812025792/en/
Investor and Media Contact
John Ragozzino Jr., CFA
investors@whitehawkenergy.com
Source: WhiteHawk Minerals