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
Showing posts with label petrohawk energy. Show all posts
Showing posts with label petrohawk energy. Show all posts
Tuesday, August 17, 2010
Tuesday, August 10, 2010
Eagle Ford Shale: Market Analysis
By Andrea: http://oilshalegas.com
Eagle Ford Shale in the US - Oil and Gas Shale Market Analysis and Forecasts to 2020
Summary
GlobalData's energy report "Eagle Ford Shale in the US – Oil and Gas Shale Market Analysis and Forecasts to 2020" analyzes the recent activities in the Eagle Ford Shale play in the US (United States). The report details the drilling activity in the play by analyzing the permits issued in Eagle Ford shale by period, county and also by company. It provides the well and acreage costs in the shale play. The report provides major players in the shale play in terms of acreage and production. It also details the expected production from the shale play by 2020. The report details the major infrastructure developments and recent merger and acquisition activities in the play. It also provides the future plans of major companies involved in the Eagle Ford shale play.
Scope
The report analyzes the activities in the US Eagle Ford shale. The Scope of the report includes:
- The report details major companies in the Eagle Ford shale by acreage and by production.
- It provides Eagle Ford shale production trends and expected production during 2010-2020.
- Cost per well and acreage cost for major players in the shale play are covered.
- Eagle Ford shale drilling details by period, county and company are detailed.
- The report also details major infrastructure development in the play during 2009-2010.
- It provides major merger and acquisition in the Eagle Ford shale play during 2009-2010.
- The report also provides analysis of operation of major companies in the play like EOG Resources, Petrohawk and others.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, August 4, 2010
Petrohawk Energy (HK): Eagle Ford Shale
By Andrea: http://oilshalegas.com
Petrohawk Energy (HK) announced that they foresee a positive future in their Eagle Ford Shale sector in their 2010 Earnings call:
"Also, 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."
The growing company experienced their highest level of operating activity in the Eagle Ford Shale to date. Last quarter, they operated an average of 7.5 rigs and drilled 19 wells, 11 in Hawkville, seven in Black Hawk and one in Red Hawk.
Petroawk Energy (HK) announced their first Eagle Ford Shale play in late 2008. It was founded at a depth of approximately 11,000-12,000 feet. The counties where they currently operate Eagle Ford Shale include LaSalle County, TX, McMullen County, TX and DeWitt County, TX. Prospective counties include Redhawk and Zavala County, TX.
Petrohawk Energy (HK) announced that they foresee a positive future in their Eagle Ford Shale sector in their 2010 Earnings call:
"Also, 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."
The growing company experienced their highest level of operating activity in the Eagle Ford Shale to date. Last quarter, they operated an average of 7.5 rigs and drilled 19 wells, 11 in Hawkville, seven in Black Hawk and one in Red Hawk.
Petroawk Energy (HK) announced their first Eagle Ford Shale play in late 2008. It was founded at a depth of approximately 11,000-12,000 feet. The counties where they currently operate Eagle Ford Shale include LaSalle County, TX, McMullen County, TX and DeWitt County, TX. Prospective counties include Redhawk and Zavala County, TX.
For more Shale updates, visit http://blackberrystocks.blogspot.com/
For more stock market news, visit http://daytradingstockblog.blogspot.com
Thursday, November 6, 2008
Haynesville Shale: Petrohawk Spuds New Well
Petrohawk Energy ( HK ) is out with earnings this morning and an update on a new well they spudded in the past two weeks located in Bossier Parish in the Haynesville Shale Nautral Gas Field.
Since its operational update on October 21, 2008, Petrohawk has completed one additional well in Bossier Parish, Louisiana, targeting the Haynesville Shale. The EGP #64H (100% WI), located in Section 10, Township 16 North, Range 11 West, was placed on production at a rate of approximately 15.7 Mmcfe/d, on a 24/64" choke with 6,700 pounds flowing casing pressure. The well has a lateral length of approximately 4,100 feet and was completed using 12 stages of fracture stimulation.
The Company has completed a total of four wells in the Haynesville Shale, all with initial production rates over 15 Mmcfe/d. Petrohawk expects to average 14 operated rigs during 2009 in this area, targeting the Haynesville Shale, Bossier Shale and the Cotton Valley Lime formations. Twelve of these rigs will drill locations in Northwest Louisiana, and two will drill on acreage in East Texas.
http://blackberrystocks.blogspot.com/
Since its operational update on October 21, 2008, Petrohawk has completed one additional well in Bossier Parish, Louisiana, targeting the Haynesville Shale. The EGP #64H (100% WI), located in Section 10, Township 16 North, Range 11 West, was placed on production at a rate of approximately 15.7 Mmcfe/d, on a 24/64" choke with 6,700 pounds flowing casing pressure. The well has a lateral length of approximately 4,100 feet and was completed using 12 stages of fracture stimulation.
The Company has completed a total of four wells in the Haynesville Shale, all with initial production rates over 15 Mmcfe/d. Petrohawk expects to average 14 operated rigs during 2009 in this area, targeting the Haynesville Shale, Bossier Shale and the Cotton Valley Lime formations. Twelve of these rigs will drill locations in Northwest Louisiana, and two will drill on acreage in East Texas.
http://blackberrystocks.blogspot.com/
Wednesday, October 22, 2008
Haynesville Shale: New Petrohawk Energy ( HK ) Well hitting 17 MCF per day
Petrohawk Energy ( HK ) came out with an operational update 10/21/08 regarding its Haynesville Shale formation and its new shale discovery, Eagle Ford Shale in South Texas.
Petrohawk's third operated well in the Haynesville Shale, the Hunt Plywood 36 #11H (100% WI), located in Section 36, Township 15 North, Range 13 West, was placed on production at a rate of approximately 17.0 Mmcfe/d, on a 22/64" choke with 7,225 pounds flowing casing pressure. The well has averaged 15.4 Mmfe/d over the first 30 days of production.
The Company's first operated Haynesville Shale well, the Elm Grove Plantation (EGP) #63H, has produced for approximately 100 days and has averaged 8.8 Mmcfe/d over this period. Petrohawk's second operated well, the Hutchinson 9 #5H, has been on production for approximately 67 days and has averaged 14.6 Mmcfe/d over that time period. Several additional Haynesville Shale wells are currently being completed.
The Company has instituted a "pre-drill", or spudder rig, program in the Haynesville Shale designed to accelerate the pace of drilling. Ten operated horizontal rigs are currently drilling in the play as well as five spudder rigs. Petrohawk expects to exit 2008 with twelve operated horizontal rigs drilling in the play. To date, the Company has drilled through the Haynesville Shale in a total of 16 wells. The added well control has shown the Shale to be consistently thick and with excellent reservoir quality in all of these wells. With the drilling program currently in place, Petrohawk estimates that approximately 18 wells will be on production prior to the end of the fourth quarter out of a total of 26 wells drilled through the Shale section by the end of the year.
In addition to Haynesville Shale activities in Northwest Louisiana, Petrohawk will begin testing Haynesville and Bossier Shale prospects in Shelby County, Texas, with initial results expected before year end. Two operated rigs will be dedicated to this program during the fourth quarter. Drilling activity will also initiate on acreage included in the previously announced Joint Venture with EOG Resources in Nacogdoches County during the fourth quarter. Three rigs are expected to be operating within this joint venture area, targeting the Haynesville Shale as well as James Lime and Travis Peak formations.
Petrohawk's third operated well in the Haynesville Shale, the Hunt Plywood 36 #11H (100% WI), located in Section 36, Township 15 North, Range 13 West, was placed on production at a rate of approximately 17.0 Mmcfe/d, on a 22/64" choke with 7,225 pounds flowing casing pressure. The well has averaged 15.4 Mmfe/d over the first 30 days of production.
The Company's first operated Haynesville Shale well, the Elm Grove Plantation (EGP) #63H, has produced for approximately 100 days and has averaged 8.8 Mmcfe/d over this period. Petrohawk's second operated well, the Hutchinson 9 #5H, has been on production for approximately 67 days and has averaged 14.6 Mmcfe/d over that time period. Several additional Haynesville Shale wells are currently being completed.
The Company has instituted a "pre-drill", or spudder rig, program in the Haynesville Shale designed to accelerate the pace of drilling. Ten operated horizontal rigs are currently drilling in the play as well as five spudder rigs. Petrohawk expects to exit 2008 with twelve operated horizontal rigs drilling in the play. To date, the Company has drilled through the Haynesville Shale in a total of 16 wells. The added well control has shown the Shale to be consistently thick and with excellent reservoir quality in all of these wells. With the drilling program currently in place, Petrohawk estimates that approximately 18 wells will be on production prior to the end of the fourth quarter out of a total of 26 wells drilled through the Shale section by the end of the year.
In addition to Haynesville Shale activities in Northwest Louisiana, Petrohawk will begin testing Haynesville and Bossier Shale prospects in Shelby County, Texas, with initial results expected before year end. Two operated rigs will be dedicated to this program during the fourth quarter. Drilling activity will also initiate on acreage included in the previously announced Joint Venture with EOG Resources in Nacogdoches County during the fourth quarter. Three rigs are expected to be operating within this joint venture area, targeting the Haynesville Shale as well as James Lime and Travis Peak formations.
Tuesday, October 21, 2008
Eagle Ford Shale - South Texas Oil and Natural Gas
We did some research on the Eagle Ford Shale which has been tested in south Texas. There has been some nice Oil finds as well as natural gas. This shale play has potential!
We've identified three drillers:
Petrohawk Energy ( HK )
TXCO Resources ( TXCO )
St Mary Land & Exploration ( SM )
http://www.oilshalegas.com/eaglefordshale.html
Today, 10/21/08 - Petrohawk came out with positive results
http://blackberrystocks.blogspot.com/2008/10/eagle-ford-shale-petrohawk-hk-new-gas.html
We've identified three drillers:
Petrohawk Energy ( HK )
TXCO Resources ( TXCO )
St Mary Land & Exploration ( SM )
http://www.oilshalegas.com/eaglefordshale.html
Today, 10/21/08 - Petrohawk came out with positive results
http://blackberrystocks.blogspot.com/2008/10/eagle-ford-shale-petrohawk-hk-new-gas.html
Eagle Ford Shale: Petrohawk HK New Gas Discovery 10/21/08
Petrohawk Energy ( HK ) has come out today, 10/21/08, and stated that they have discovered a new natural gas field in South Texas called the Eagle Ford Shale. I have never heard of this shale formation but I will be doing research and posting it on http://oilshalegas.com
Petrohawk Energy Corporation ("Petrohawk" or the "Company") (NYSE: HK) announced a significant new natural gas field discovery in the Eagle Ford Shale in South Texas. This new field in La Salle County, Texas, was discovered after extensive regional subsurface and seismic mapping, geochemical analysis and petrophysical study. The Company has leased over 100,000 net acres in what it believes to be the most prospective areas for commercial production from the Eagle Ford Shale. The field is located immediately south of the Stuart City Field, which is on the Edwards Reef Trend that extends across South Texas.
"This discovery folds perfectly into our portfolio of unconventional resource assets," said Dick Stoneburner, Chief Operating Officer. "Petrohawk's staff has extensive experience in the acquisition and development of horizontal plays as exhibited by our results in the Haynesville Shale and Fayetteville Shale plays. Leveraging that expertise to uncover new opportunities like the Eagle Ford Shale adds significantly to our playbook."
The discovery well, the STS #241-1H, was drilled to an approximate true vertical depth of 11,300 feet during which extensive coring and open hole logging was performed. An approximate 3,200-foot lateral was drilled and subsequently fracture stimulated with over two million pounds of sand in ten stages. The well was placed on production at a rate of 9.1 million cubic feet of natural gas equivalent per day (7.6 million cubic feet of natural gas per day and 250 barrels of condensate per day). A confirmation well, the second well drilled on the project, the Dora Martin #1H, which is approximately 15 miles from the discovery well, has been drilled, cored and logged. The quality of the Eagle Ford Shale in this well appears to be superior to that found in the STS #241-1H. The Company is currently drilling the lateral on this second well. A third well is expected to spud by mid-November.
Petrohawk expects drilling and completion costs for development wells to range between $5 and $7 million. Development costs, including one rig that will run continuously on the project, have already been included in the Company's published 2008 and 2009 capital plans. The Company plans to access existing gathering and transportation infrastructure, further improving lower overall development costs.
Petrohawk is the operator and owns 90% working interest in the project, with 10% owned by industry partners.
http://www.petrohawk.com/news/default.aspx?id=1214855
Keep in mind, part of the Haynesville Shale is located in East Texas extending into Louisiana.
Petrohawk Energy Corporation ("Petrohawk" or the "Company") (NYSE: HK) announced a significant new natural gas field discovery in the Eagle Ford Shale in South Texas. This new field in La Salle County, Texas, was discovered after extensive regional subsurface and seismic mapping, geochemical analysis and petrophysical study. The Company has leased over 100,000 net acres in what it believes to be the most prospective areas for commercial production from the Eagle Ford Shale. The field is located immediately south of the Stuart City Field, which is on the Edwards Reef Trend that extends across South Texas.
"This discovery folds perfectly into our portfolio of unconventional resource assets," said Dick Stoneburner, Chief Operating Officer. "Petrohawk's staff has extensive experience in the acquisition and development of horizontal plays as exhibited by our results in the Haynesville Shale and Fayetteville Shale plays. Leveraging that expertise to uncover new opportunities like the Eagle Ford Shale adds significantly to our playbook."
The discovery well, the STS #241-1H, was drilled to an approximate true vertical depth of 11,300 feet during which extensive coring and open hole logging was performed. An approximate 3,200-foot lateral was drilled and subsequently fracture stimulated with over two million pounds of sand in ten stages. The well was placed on production at a rate of 9.1 million cubic feet of natural gas equivalent per day (7.6 million cubic feet of natural gas per day and 250 barrels of condensate per day). A confirmation well, the second well drilled on the project, the Dora Martin #1H, which is approximately 15 miles from the discovery well, has been drilled, cored and logged. The quality of the Eagle Ford Shale in this well appears to be superior to that found in the STS #241-1H. The Company is currently drilling the lateral on this second well. A third well is expected to spud by mid-November.
Petrohawk expects drilling and completion costs for development wells to range between $5 and $7 million. Development costs, including one rig that will run continuously on the project, have already been included in the Company's published 2008 and 2009 capital plans. The Company plans to access existing gathering and transportation infrastructure, further improving lower overall development costs.
Petrohawk is the operator and owns 90% working interest in the project, with 10% owned by industry partners.
http://www.petrohawk.com/news/default.aspx?id=1214855
Keep in mind, part of the Haynesville Shale is located in East Texas extending into Louisiana.
Thursday, October 2, 2008
Haynesville Shale: ( HK ) PetroHawk Energy Update 10/02/08
Like Chesapeake Energy ( CHK ), Petrohawk Energy ( HK ) reduces capital budget for 2009 as energy prices decline. Petrohawk plans to focus more on the Haynesville Shale & the Fayetteville Shale.
The reallocation of capital reflects an increased emphasis on development of non-proved locations in Petrohawk's successful Haynesville and Fayetteville Shale projects, with the benefit of higher expected overall reserve growth potential for the Company. Petrohawk's production guidance for 2009 represents 25% to 35% drillbit growth over 2008 estimated annual production of 305 million cubic feet of natural gas equivalent per day (Mmfe/d).
http://www.petrohawk.com/news/default.aspx?id=1204163
For more on the shale plays in the USA and Canada...visit www.oilshalegas.com
The reallocation of capital reflects an increased emphasis on development of non-proved locations in Petrohawk's successful Haynesville and Fayetteville Shale projects, with the benefit of higher expected overall reserve growth potential for the Company. Petrohawk's production guidance for 2009 represents 25% to 35% drillbit growth over 2008 estimated annual production of 305 million cubic feet of natural gas equivalent per day (Mmfe/d).
http://www.petrohawk.com/news/default.aspx?id=1204163
For more on the shale plays in the USA and Canada...visit www.oilshalegas.com
Saturday, August 30, 2008
Haynesville Shale - Petrohawk ( HK ) mentioned 8/29/08
A Morgan Keegan analyst resumed coverage on Petrohawk ( HK ) with a rating of Outperform.....$55-$60 price target.
This analyst cited that most of Petrohawk value is in unbooked natural gas drilling potential of the Haynesville Shale formation which is located in Louisiana and East Texas.
Petrohawk has around 300,000 acres in the Haynesville Shale field.
This analyst cited that most of Petrohawk value is in unbooked natural gas drilling potential of the Haynesville Shale formation which is located in Louisiana and East Texas.
Petrohawk has around 300,000 acres in the Haynesville Shale field.
Tuesday, August 5, 2008
Haynesville Shale - PetroHawk ( HK ) signs deal
This morning we have news out of PetroHawk Energy ( HK ) and Mainland Resources ( MNLU ) regarding the Haynesville Shale. These two companies will be apart of a joint venture in the Louisiana Shale deposit known as the Haynesville Shale.
Mainland Resources, Inc. holds interest in approximately 2,695 net acres which form part of the East Holly Field in De Soto Parish, northwest Louisiana.
Under the terms of the Definitive Agreement, Petrohawk agrees to pay 100% of the costs of development associated with the first well drilled below the Cotton Valley Formation, including drilling, completing and fracture stimulating, as well as costs up to and including pipeline connection. Petrohawk also agrees to pay 80% of all costs of the second well drilled on the Leases below the base of the Cotton Valley and Mainland agrees to pay 20% of the costs. For the third, and all subsequent wells drilled on the Leases below the base of the Cotton Valley Formation, Petrohawk will pay 60% and Mainland will pay 40%.
Mainland will immediately transfer 60% of its De Soto Parish leases to Petrohawk, but only as the Leases relate to all depths below the base of the Cotton Valley Formation, and specifically the Haynesville Shale. Mainland retains rights to all Cotton Valley and Hosston formation production on these Leases. Petrohawk agrees to gather and market Mainland's production from above the base of the Cotton Valley Formation, pursuant to a mutually acceptable agreement.
Full Article - http://biz.yahoo.com/prnews/080805/latu059.html?.v=101
Mainland Resources, Inc. holds interest in approximately 2,695 net acres which form part of the East Holly Field in De Soto Parish, northwest Louisiana.
Under the terms of the Definitive Agreement, Petrohawk agrees to pay 100% of the costs of development associated with the first well drilled below the Cotton Valley Formation, including drilling, completing and fracture stimulating, as well as costs up to and including pipeline connection. Petrohawk also agrees to pay 80% of all costs of the second well drilled on the Leases below the base of the Cotton Valley and Mainland agrees to pay 20% of the costs. For the third, and all subsequent wells drilled on the Leases below the base of the Cotton Valley Formation, Petrohawk will pay 60% and Mainland will pay 40%.
Mainland will immediately transfer 60% of its De Soto Parish leases to Petrohawk, but only as the Leases relate to all depths below the base of the Cotton Valley Formation, and specifically the Haynesville Shale. Mainland retains rights to all Cotton Valley and Hosston formation production on these Leases. Petrohawk agrees to gather and market Mainland's production from above the base of the Cotton Valley Formation, pursuant to a mutually acceptable agreement.
Full Article - http://biz.yahoo.com/prnews/080805/latu059.html?.v=101
Monday, July 21, 2008
Haynesville Shale Stocks Reversing HK, CHK, GDP, XTO
Last week their was a huge build in natural gas inventories.....up 16-20% then expected.
All of the Natural Gas stocks got hammered off of this news. Today they opened up weaker but now have reversed and seem to be wanting to break out.
Watch these Haynes Shale Stocks
PetroHawk Energy HK - Capitulated in the $36 area last week.....now reversing above $39 this morning.
Goodrich Petroleum GDP - Still continues to go down.....from $75 down to $57 in a week. GDP is bouncing off the lows this morning and is currently trading at $58.50
XTO Energy XTO - This stock has gotten hammered for being one of the bigger natural gas stocks. After hitting $53 Thursday....XTO has reversed back to $56. XTO is involved in alot of shales including the Bakken Shale of North Dakota, Marcellus Shale in Pennsylvania, and the Barnett Shale in Texas
Chesapeake Energy CHK - Chesapeake Energy has been smashed all the way down to $52 on Thursday....even after this company Announced that they will be selling their Woodford Shale acres for Beyond Petroleum ( BP ). CHK has been bouncing this morning above $55.
If you have been waiting for a dip in these stocks for awhile now.....here is your chance to invest in specifically the Haynesville Shale or many other shale plays by buying XTO or CHK
All of the Natural Gas stocks got hammered off of this news. Today they opened up weaker but now have reversed and seem to be wanting to break out.
Watch these Haynes Shale Stocks
PetroHawk Energy HK - Capitulated in the $36 area last week.....now reversing above $39 this morning.
Goodrich Petroleum GDP - Still continues to go down.....from $75 down to $57 in a week. GDP is bouncing off the lows this morning and is currently trading at $58.50
XTO Energy XTO - This stock has gotten hammered for being one of the bigger natural gas stocks. After hitting $53 Thursday....XTO has reversed back to $56. XTO is involved in alot of shales including the Bakken Shale of North Dakota, Marcellus Shale in Pennsylvania, and the Barnett Shale in Texas
Chesapeake Energy CHK - Chesapeake Energy has been smashed all the way down to $52 on Thursday....even after this company Announced that they will be selling their Woodford Shale acres for Beyond Petroleum ( BP ). CHK has been bouncing this morning above $55.
If you have been waiting for a dip in these stocks for awhile now.....here is your chance to invest in specifically the Haynesville Shale or many other shale plays by buying XTO or CHK
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