San Jacinto Minerals Announces Marcellus Shale Divestiture

Posted on April 8th, 2025 | Filed under Press Releases

DENVER, April 8, 2025 /PRNewswire/ — San Jacinto Minerals announced today the sale of 13,700 net royalty acres in the Pennsylvania Marcellus Shale for $118 million to WhiteHawk Energy. At year-end, the assets were producing over 21 million cubic equivalent per day net of mostly dry natural gas. The assets are 95% operated by EQT, Range Resources, and CNX Resources.

The assets sold represent 50% of the total position in the San Jacinto Minerals I entity consolidated by the San Jacinto team since its inception in 2015. San Jacinto sold the other 50% to WhiteHawk in two prior transactions in 2022 and 2023 for a total of $110 million.

Lime Rock Partners is the primary investor in San Jacinto Minerals, which is led by Nick Reiland and Jeff Scott. The Lime Rock Partners and San Jacinto teams have partnered in four sequential San Jacinto Minerals entities. With this sale, the first entity has sold all of its assets.

Jeffrey Scofield, a Managing Director of Lime Rock Partners, said, “In 2015, we launched our minerals strategy with Jeff, Nick, and the San Jacinto team. Between San Jacinto, CrownRock Minerals, and other entities, we have deployed over half of our total invested capital to minerals strategies since that time. We are grateful for the hard work of the San Jacinto team that has resulted in this successful outcome and our first full exit of a minerals entity. We look forward to the value creation and further exits to come.”

About San Jacinto Minerals
San Jacinto Minerals I was founded in 2015 by Nick Reiland and Jeff Scott with $68 million of capital commitments from Lime Rock Partners and management to acquire mineral interests in the Marcellus Shale. Mr. Reiland, Mr. Scott, and Lime Rock Partners have since formed three subsequent San Jacinto Minerals vehicles to continue acquiring minerals predominantly in the Marcellus Shale and the Denver-Julesburg Basin in Colorado. As of March 31, 2025, the San Jacinto Minerals team had closed on over $800 million of acquisitions in over 1,300 transactions. The San Jacinto entities continue to hold significant royalty interests in the Denver–Julesburg and Appalachian Basins as well as other areas in the United States. For more information, please see www.sanjacintominerals.com.

About Lime Rock Partners
Since its inception in 1998, Lime Rock Management has raised over $10.0 billion in private equity funds and affiliated co-investment vehicles for investment in the energy industry through three strategies: Lime Rock Partners, investors of growth capital in E&P and oilfield services companies; Lime Rock Resources, acquirers and operators of oil and gas properties in the United States; and Lime Rock New Energy, investors of growth capital in products and services companies in the energy transition. For more information, please visit www.lrpartners.com.

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. For more information, please visit www.whitehawkenergy.com.

Advisors
Gibson, Dunn & Crutcher LLP acted as legal counsel to San Jacinto Minerals.
TenOaks Energy Advisors, LLC acted as financial advisors to San Jacinto Minerals.
Weil, Gotshal & Manges LLP acted as legal counsel to WhiteHawk.

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