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Yorkville’s Mountain Hawk acquires 50 per cent share of coal bed methane field

Mountain Hawk Energy, a company focused on the acquisition, exploration and development of coal bed methane in Wyoming’s Powder River Basin, has acquired a 50 per cent share of the Clabaugh coal bed gas field from Marathon Oil. 

Mountain Hawk Energy is wholly-owned indirectly by Yorkville Advisors’ managed fund, YA Global Investments.

With the acquisition and operational changes, Mountain Hawk expects to triple the daily production from 750,000 to 2.0 to 3.0 million cubic feet a day, and has doubled its total proved gas reserves from 8.8 billion cubic feet to 16.6 billion cubic feet in Clabaugh.

Les Garrett, managing director of Yorkville Advisors and chief operating officer for Mountain Hawk Energy, and Troy Rillo, senior director at Yorkville Advisors, performed the due diligence, recommended the acquisition, negotiated the price and consummated the transaction.

Garrett says: “The Clabaugh acquisition is a major milestone for Mountain Hawk Energy, and a significant event for its growth trajectory. Clabaugh has coal seams rich in natural gas and this significantly boosts Mountain Hawk Energy’s reserves.  Following this acquisition, we will continue to look at careful and measured growth for the company through low cost, value added acquisition.”

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