Page 15 - NorthAmOil Week 03 2023

NorthAmOil NEWS IN BRIEF NorthAmOil

supplier of carbon-negative

renewable natural gas for

its operations, including the
Saint John refinery

We further bolstered activity and added highest quality natural gas reserves in the Irving Oil and global waste-to-renewable
capacity with the acquisition of the Canadian United States. WhiteHawk’s position will cover natural gas (RNG) industry leader Anaergia
directional drilling business of Ensign Energy 375,000 gross unit acres in the Haynesville have announced a partnership that will supply
Services on October 26, 2022. In addition, Shale. The Haynesville Royalties are being Canada’s largest refinery with carbon-negative
Cathedral has entered into a Marketing and actively developed by best-in-class natural gas RNG, as well as Irving Oil’s other operations
Technology Alliance with Ensign Energy operators Southwestern Energy, Chesapeake such as delivered natural gas.
Services Inc. to support and expand the Energy, Aethon Energy Management and The RNG, which is made from organic
customer base of both companies in the Comstock Resources. Under the Haynesville matter instead of fossil fuels, will be produced
Canadian market. This transaction helped Agreement, WhiteHawk will acquire up to at Anaergia’s Rhode Island Bioenergy Facility,
drive market share in full-service directional $105mn of the Haynesville Royalties with an where food waste and other organic wastes
drilling to approximately 26% (Source: Baker initial effective date of February 1, 2023. that would otherwise have been landfilled,
Hughes rig counts) in Q4-2022 vs 24.3% in WhiteHawk management expects are transformed into renewable fuel. About
Q3-2022. In the US, market share continued the Haynesville royalties to be a strong 350mn cubic feet of RNG will be supplied
at or slightly above the level achieved in Q3- compliment to the company’s existing annually from Anaergia into the regional
2022. high-quality natural gas mineral and royalty pipeline where it will reduce the need for
Looking forward to Q1-2023, Cathedral assets. During 2022, WhiteHawk acquired conventional natural gas supply to Irving Oil’s
is operating over 60 active jobs in Canada, a natural gas mineral and royalty assets operations, including the Saint John refinery
level that if sustained, will represent some of covering 475,000 gross unit acres in the core in New Brunswick.
the most robust levels of activity in Cathedral’s of the Marcellus Shale focused in Greene This RNG is recognised as carbon-negative
history. In the US, our Altitude division is and Washington Counties, Pennsylvania. due to its ability to capture more methane
on track to grow its Q1-2023 job count to Pro forma for the Haynesville Royalties emissions than the organic waste would have
approximately 60-65 active rigs, marking clear acquisition, the Company will have interests otherwise created when landfilled. In this way,
progress from the second half 2022 activity in over 2,300 producing horizontal wells Anaergia’s Rhode Island Bioenergy Facility
levels of 50-55 jobs. Finally, Cathedral’s US across the two preeminent natural gas basins prevents the release of more than 40,000
motor rental business, Discovery Downhole in North America, anchored by some of the metric tonnes per year of carbon dioxide-
Services, also expects to operate near full best natural gas operators in the country equivalent greenhouse gas emissions.
capacity at high levels of utilization with the with combined market capitalization of “We are proud to continue advancing on
implementation of incremental price increases approximately $40 billion. The diversified our energy transition journey through this
during the fourth quarter of 2022 and position will benefit from sales points in both new partnership where waste will be diverted
anticipated in the first quarter of the year. the Northeast and Gulf Coast regions. from the landfill and converted to renewable
CATHEDRAL ENERGY SERVICES, January 13, “The acquisition of the Haynesville natural gas for use in our operations,
2023 royalties is an excellent next step for including at our Saint John refinery,” says Ian
WhiteHawk,” says Daniel C. Herz, Chief Whitcomb, President of Irving Oil. “We are
Executive Officer of WhiteHawk. “With these making strides in achieving our 2030 goal of
MOVES assets, WhiteHawk is continuing to execute a 30% reduction in greenhouse gas emissions
on its business plan of acquiring mineral and as we shift to lower carbon energies. We
WhiteHawk Energy royalty interests in the highest quality natural know that together we can create real change
towards a more sustainable energy future for
gas basins in North America, anchored by
announces agreement to best-in-class operators. Natural gas continues all.” The Rhode Island Bioenergy Facility,
to be a core element of the global economy
acquire Haynesville Shale and is needed to provide clean electricity for located near Rhode Island’s central landfill in
vehicle electrification, offer affordable energy
Johnston, is designed to divert over 100,000
natural gas mineral and for heating homes, and further drive energy tons per year of waste from landfills and it
is the largest anaerobic digester processing
security for the United States and our allies.”
royalty assets for up to WHITEHAWK ENERGY, January 18, 2023 organic waste in New England. This facility
converts food scraps plus some other organic
$105mn ENERGY TRANSITION wastes, into fertiliser, recycled water and
RNG. The nutrient-rich solid residual of the
WhiteHawk Energy announced today a digestion process is utilised to enrich New
definitive agreement to acquire up to $105mn Canadian-owned Irving England soils and to reduce the use of fossil
of natural gas mineral and royalty assets fuel-derived fertilisers.
primarily located in northwestern Louisiana. Oil selects Anaergia as a IRVING OIL, January 18, 2023
The Haynesville royalties are focused in the
core of the basin, representing some of the

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