By Andrea: http://oilshalegas.com
Petrohawk Energy Corp. (HK) recently released an operational update on the Fayetteville Shale located in Cleburne and Van Buren County, Arkansas. Petrohawk has completed the sale of it's Fayetteville natural gas assets to XTO Energy Inc., for $575 million. The sale has an effective date of October 1, 2010.
In addition, the Company has entered into a definitive agreement with XTO Energy to sell its midstream assets in the Fayetteville Shale for $75 million. The portion of the transaction involving the midstream assets is expected to close in early 2011 and is subject to regulatory approval and customary closing conditions.
As of December 31, 2009, Petrohawk had estimated proved reserves in the Fayetteville Shale of approximately 299 billion cubic feet of natural gas (Bcf). Current production is approximately 98 million cubic feet of natural gas equivalent per day (Mmcfe/d).
Bank of America Merrill Lynch acted as marketing and financial advisor to Petrohawk in connection with both transactions.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label Petrohawk Energy Corp. (HK). Show all posts
Showing posts with label Petrohawk Energy Corp. (HK). Show all posts
Thursday, December 23, 2010
Thursday, September 16, 2010
Petrohawk Energy Corp. - Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Petrohawk Energy Corp. (HK) recently completed a new well in the Eagle Ford Shale, located in McMullen County, Texas:
Antares Energy is pleased to advise Petrohawk Energy Coroporation (HK) has completed the first well in the Term Assignment Area, the Donnell 457 No. 1H. The well had an initial, 24-hour production rate of 563 bo/d and 3,628 mcf/d equating to a rate of 1,168 boe/d. The well had a flowing tubing pressure of 4,580 psi on a restricted 16/64” choke.
The Donnell 457 No. 1H was completed over a measured depth interval between 12,062 ft and 15,871 ft with over 3,000,000 pounds of proppant and 2,700,000 gallons of fluid.
Additionally, Petrohawk has commenced drilling operations on the second Term Assignment well, the Dilworth No. 1H. The Dilworth No. 1H is a direct downdip offset to the Frances Dilworth No. 2H and is planned to be the longest Eagle Ford shale horizontal well to date with a lateral length of over 8,000 ft.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Petrohawk Energy Corp. (HK) recently completed a new well in the Eagle Ford Shale, located in McMullen County, Texas:
Antares Energy is pleased to advise Petrohawk Energy Coroporation (HK) has completed the first well in the Term Assignment Area, the Donnell 457 No. 1H. The well had an initial, 24-hour production rate of 563 bo/d and 3,628 mcf/d equating to a rate of 1,168 boe/d. The well had a flowing tubing pressure of 4,580 psi on a restricted 16/64” choke.
The Donnell 457 No. 1H was completed over a measured depth interval between 12,062 ft and 15,871 ft with over 3,000,000 pounds of proppant and 2,700,000 gallons of fluid.
Additionally, Petrohawk has commenced drilling operations on the second Term Assignment well, the Dilworth No. 1H. The Dilworth No. 1H is a direct downdip offset to the Frances Dilworth No. 2H and is planned to be the longest Eagle Ford shale horizontal well to date with a lateral length of over 8,000 ft.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, September 13, 2010
McMullen County, Texas - Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Petrohawk Energy Corp. (HK) recently completed a well in the Eagle Ford shale located in McMullen County Texas:
Antares Energy is pleased to advise Petrohawk Energy Coroporation has completed the first well in the Term Assignment Area , the Donnell 457 No. 1H. The well had an initial, 24-hour production rate of 563 bo/d and 3,628 mcf/d equating to a rate of 1,168 boe/d. The well had a flowing tubing pressure of 4,580 psi on a restricted 16/64” choke.
The Donnell 457 No. 1H was completed over a measured depth interval between 12,062 ft and 15,871 ft with over 3,000,000 pounds of proppant and 2,700,000 gallons of fluid.
Additionally, Petrohawk has commenced drilling operations on the second Term Assignment well, the Dilworth No. 1H. The Dilworth No. 1H is a direct downdip offset to the Frances Dilworth No. 2H and is planned to be the longest Eagle Ford shale horizontal well to date with a lateral length of over 8,000 ft.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Petrohawk Energy Corp. (HK) recently completed a well in the Eagle Ford shale located in McMullen County Texas:
Antares Energy is pleased to advise Petrohawk Energy Coroporation has completed the first well in the Term Assignment Area , the Donnell 457 No. 1H. The well had an initial, 24-hour production rate of 563 bo/d and 3,628 mcf/d equating to a rate of 1,168 boe/d. The well had a flowing tubing pressure of 4,580 psi on a restricted 16/64” choke.
The Donnell 457 No. 1H was completed over a measured depth interval between 12,062 ft and 15,871 ft with over 3,000,000 pounds of proppant and 2,700,000 gallons of fluid.
Additionally, Petrohawk has commenced drilling operations on the second Term Assignment well, the Dilworth No. 1H. The Dilworth No. 1H is a direct downdip offset to the Frances Dilworth No. 2H and is planned to be the longest Eagle Ford shale horizontal well to date with a lateral length of over 8,000 ft.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, August 18, 2010
DeSoto Parish, LA: Top Haynesville Shale Wells
By Andrea: http://oilshalegas.com
According to a press release for Mexco Energy, not only has the Haynesville shale area been estimated to become the largest gas resource in the U.S. and the fourth largest in the world, DeSoto Parish, Louisiana has been recognized as one of the top six parishes in Louisiana where the most productive Haynesville wells are located. Among the companies operating in DeSoto Parish, LA, are Chesapeake Energy Corp. (CHK), Petrohawk Energy Corp. (HK) and Mexco Energy (MXC).
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxcTR4Yj
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
According to a press release for Mexco Energy, not only has the Haynesville shale area been estimated to become the largest gas resource in the U.S. and the fourth largest in the world, DeSoto Parish, Louisiana has been recognized as one of the top six parishes in Louisiana where the most productive Haynesville wells are located. Among the companies operating in DeSoto Parish, LA, are Chesapeake Energy Corp. (CHK), Petrohawk Energy Corp. (HK) and Mexco Energy (MXC).
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxcTR4Yj
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
DeSoto Parish, LA: Haynesville Shale
By Andrea: http://oilshalegas.com
Mexco Energy Corp. (MXC) announced that they are purchasing 5,120 acres in the Haynesville shale area of DeSoto Parish, LA. Among the operating companies on the land, include Petrohawk Energy Corp. (HK) and Chesapeake Energy Corp. (CHK). In addition to the 5 horizontal wells already operating on the land, there is an estimate of 59 addition drill sites. Press release below:
Mexco Energy Corporation (MXC) announced the purchase of overriding royalty interests in 5,120 gross acres covering eight sections in the Haynesville trend area of DeSoto Parish, Louisiana, for an approximate purchase price of $1.65 million, prior to closing adjustments. Mexco paid $1.46 million in cash and 26,833 shares of its Common Stock. The Company funded the cash portion of the purchase from working capital and primarily from its $5.0 million credit facility. The stock was issued from Mexco's treasury shares.
This acreage currently contains five (5) horizontal wells producing from the Haynesville Shale formation and operated by Petrohawk Operating Company which will operate six of the eight sections. The two remaining sections will be operated by Chesapeake Energy. The Company owns average overriding royalty interests of approximately .28%.
These 5,120 acres contain an additional 59 potential drill sites in the Haynesville Shale. Other wells drilled in the Haynesville area show the presence of at least two (2) other potential producing zones, the Bossier and Cotton Valley, which are held by production and available for development should conditions warrant. Hundreds of Haynesville, hundreds of Cotton Valley and several dozen Bossier Shale wells are currently producing in the Haynesville trend area. The development of these royalties is free to Mexco of expenses for drilling, development and operations.
The Haynesville area has been estimated to become the largest gas resource in the United States and the fourth largest in the world subject to realization of technical estimates, according to World Oil in its June 2010 edition. World Oil recognizes DeSoto Parish as one of the top six (6) parishes of Louisiana where the most productive Haynesville wells are located.
"This acquisition represents a significant addition of the natural gas reserves for Mexco and future development potential," said Nicholas C. Taylor, President and CEO of Mexco
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxXZBHCY
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Mexco Energy Corp. (MXC) announced that they are purchasing 5,120 acres in the Haynesville shale area of DeSoto Parish, LA. Among the operating companies on the land, include Petrohawk Energy Corp. (HK) and Chesapeake Energy Corp. (CHK). In addition to the 5 horizontal wells already operating on the land, there is an estimate of 59 addition drill sites. Press release below:
Mexco Energy Corporation (MXC) announced the purchase of overriding royalty interests in 5,120 gross acres covering eight sections in the Haynesville trend area of DeSoto Parish, Louisiana, for an approximate purchase price of $1.65 million, prior to closing adjustments. Mexco paid $1.46 million in cash and 26,833 shares of its Common Stock. The Company funded the cash portion of the purchase from working capital and primarily from its $5.0 million credit facility. The stock was issued from Mexco's treasury shares.
This acreage currently contains five (5) horizontal wells producing from the Haynesville Shale formation and operated by Petrohawk Operating Company which will operate six of the eight sections. The two remaining sections will be operated by Chesapeake Energy. The Company owns average overriding royalty interests of approximately .28%.
These 5,120 acres contain an additional 59 potential drill sites in the Haynesville Shale. Other wells drilled in the Haynesville area show the presence of at least two (2) other potential producing zones, the Bossier and Cotton Valley, which are held by production and available for development should conditions warrant. Hundreds of Haynesville, hundreds of Cotton Valley and several dozen Bossier Shale wells are currently producing in the Haynesville trend area. The development of these royalties is free to Mexco of expenses for drilling, development and operations.
The Haynesville area has been estimated to become the largest gas resource in the United States and the fourth largest in the world subject to realization of technical estimates, according to World Oil in its June 2010 edition. World Oil recognizes DeSoto Parish as one of the top six (6) parishes of Louisiana where the most productive Haynesville wells are located.
"This acquisition represents a significant addition of the natural gas reserves for Mexco and future development potential," said Nicholas C. Taylor, President and CEO of Mexco
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxXZBHCY
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, August 17, 2010
Zavala County, Texas: Eagle Ford Shale
By Andrea: http://oilshalegas.com
Petrohawk Energy (HK) currently owns 87,000 net acres in the Eagle Ford shale of Zavala County, Texas. They completed the Ranch C #1H well in 2Q 2010 with a production rate of 350 barrels of oil/day. They plan to spud their third well in Zavala County by the end of 2010.
Crimson Exploration (CXPO) owns a 95% working interest in roughly 4,600 gross acres in southeast Zavala County, Texas. Activity has increased greatly in the Eagle Ford Shale in the oil corridor of the play for Crimson. They are in the process of reviewing the area for potential late 2010 or early 2011 drilling activity.
Chesapeake Energy Corp. (CHK) has increased its acreage position in the Eagle Ford Shale to 550,000 net acres, an increase of 150,000 net acres from the first quarter of 2010. Chesapeake Energy has drilled and completed 7 gross wells to date on its acreage in the Eagle Ford Shale, and estimates that it will operate an average of 5 rigs during 2010. Their most recent well completed in Zavala County, the Traylor North 1H, produced 300,000 cubic feet of natural gas per day and approximately 930 barrels of oil per day.
Doxa Energy currently operates on 1,138 net acres in Zavala County, Texas in the Eagle Ford shale. They plan to spud their first well by Q3 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
DeWitt County, Texas: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Petrohawk Energy Corp. (HK) confirmed its strong belief in the growth potential in their Eagle Ford Shale projects in DeWitt County, TX. In their 2010 2Q earnings call, Floyd Wilson, Chairman and CEO of Petrohawk Energy, stated:
"We expect to see a meaningful oil production component grow, fueled from new areas of our portfolio. Our growing Black Hawk area in the Eagle Ford Shale and our Red Hawk project, also in Eagle Ford Shale, should provide for this growth. This could bring the oil component of production to approximately 5% by year end and possibly much higher in future years. We will look for these higher-margin oil areas to meaningfully support cash flow growth and organic reserve growth."
Petrohawk Energy will have 90-some miles of gas and condensate gathering the line in the ground in the Black Hawk area by year end. In Hawkesville, the company has been putting pipes in the ground there for over a year now, and they are on track with their wells program.
Petrohawk Energy currently operates an approximate 20 wells in the Eagle Ford shale.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Petrohawk Energy Corp. (HK) confirmed its strong belief in the growth potential in their Eagle Ford Shale projects in DeWitt County, TX. In their 2010 2Q earnings call, Floyd Wilson, Chairman and CEO of Petrohawk Energy, stated:
"We expect to see a meaningful oil production component grow, fueled from new areas of our portfolio. Our growing Black Hawk area in the Eagle Ford Shale and our Red Hawk project, also in Eagle Ford Shale, should provide for this growth. This could bring the oil component of production to approximately 5% by year end and possibly much higher in future years. We will look for these higher-margin oil areas to meaningfully support cash flow growth and organic reserve growth."
Petrohawk Energy will have 90-some miles of gas and condensate gathering the line in the ground in the Black Hawk area by year end. In Hawkesville, the company has been putting pipes in the ground there for over a year now, and they are on track with their wells program.
Petrohawk Energy currently operates an approximate 20 wells in the Eagle Ford shale.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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