WhiteHawk Prevails, Gets PHX Minerals Down the Aisle for $187M
WhiteHawk Energy is smitten with PHX Minerals. WhiteHawk has been trying to get PHX down the marriage aisle in any way it can for nearly two years. PHX has repeatedly given WhiteHawk the cold shoulder (see our WhiteHawk/PHX articles here). After begging, pleading, threatening, and appealing to shareholders, WhiteHawk has finally done it. WhiteHawk, one of the largest royalty owners in the Marcellus Shale, will acquire PHX Minerals Inc., a mineral rights owner with holdings in the Haynesville Shale and elsewhere, for $187 million ($4.35 per share). Read More “WhiteHawk Prevails, Gets PHX Minerals Down the Aisle for $187M”
A power project we’ve been tracking since 2017 is a 620-megawatt (MW) Marcellus-fired electric plant in Greene County, PA, called the Hill Top Energy Center (
Capital Power Corporation, based in Edmonton (Alberta), Canada, a power producer with approximately 10 gigawatts (GW) of power generation at 30 facilities across North America, announced it is buying two gas-fired power plants from LS Power. One facility is the 1,124 megawatt (MW) Hummel Station, a combined-cycle natural gas facility in Shamokin Dam, PA, fed by Marcellus molecules. The other is the 1,023 MW Rolling Hills plant, a combustion turbine natural gas facility in Wilkesville, OH, fed by Utica molecules. We welcome Capital Power to the M-U! 
ArcLight Capital Partners, an infrastructure investment firm focused on energy and related infrastructure, announced it is buying out the ownership interests of Osaka Gas USA Corporation and Kyuden International Americas Inc. (both Japanese companies) in Kleen Energy Systems, LLC. Kleen Energy owns Kleen Power, a 620 megawatt (MW) natural gas-fired power plant in Middletown, Connecticut. The terms of the transaction were not disclosed. 
WhiteHawk Energy, headquartered in Philadelphia and owning mineral and royalty interests for over 1 million gross unit acres with over 3,400 producing horizontal shale wells between the Marcellus and the Haynesville, announced yesterday that it has doubled its ownership in Marcellus assets in Washington and Greene counties in southwest Pennsylvania. WhiteHawk paid $118 million to increase ownership across 475,000 gross acres in the Marcellus Shale. The drillers operating on those acres include EQT, Range Resources, and CNX Resources.
Pine Run Gathering LLC, a joint venture owned by Stonehenge Energy and UGI, announced yesterday that it had completed a transaction to buy Superior Midstream Appalachian, LLC, for $120 million. Superior Appalachian owns and operates three gathering systems in Pennsylvania, namely Pittsburgh Mills (Allegheny & Butler counties), Snow Shoe (Centre County), and Brookfield (Tioga County). The Pittsburgh Mills system is connected to UGI’s Big Pine gathering system. All three have a combined daily flow of approximately 190 million cubic feet per day (MMcf/d). 
In December, CNX Resources announced it had struck a deal to buy the assets of Apex Energy II, LLC, a portfolio company of funds managed by Carnelian Energy Capital Management, for $505 million (see 
Last November, Coterra Energy announced it would buy “certain assets of Franklin Mountain Energy and Avant Natural Resources” located in the Permian (see 
CNX Resources announced in December that it had struck a deal to buy the assets of Apex Energy II, LLC, a portfolio company of funds managed by Carnelian Energy Capital Management, for $505 million (see 
The end of the year and the beginning of a new year are times when many publications reflect on what was and what may be. A recent article by Hart Energy’s Oil and Gas Investor magazine tackled the topic of what may lie ahead for the Marcellus/Utica region over the next couple of years. The article looked at two primary issues—the potential for more pipelines getting built within (and out of) our region and the likelihood of more mergers and acquisitions for drillers in our region. 
We have two stories about Coterra Energy to share. Coterra was formed in 2021 by the merger of the Marcellus-focused Cabot Oil & Gas and the Permian/Anadarko-focused Cimarex Energy. Unfortunately (for the M-U), the merged company has chosen to concentrate new drilling outside of the northeast Pennsylvania Marcellus until the price of natgas improves (see