Standard & Poor's Equity Research maintains its Hold recommendation on shares of Petrohawk Energy Corp., Houston (NYSE: HK).

S&P analyst Michael Kay says Petrohawk plans to raise rig counts in the Haynesville shale to 16 by year-end, where it holds 300,000 net acres. Also, Petrohawk has budgeted $120 million and two rigs to its 160,000 net acres at Eagle Ford shale in 2009, where it plans to drill about 21 wells. Combined with 157,000 net acres at Fayetteville shale, S&P believes the company has assembled an attractive portfolio of future growth prospects with visible production growth during the next few years.

S&P expects Petrohawk to expand 2009 production 44% and 2010's 22%, and raised its 2009 earnings-per-share view $0.02 to $0.42. S&P sees second quarter at $0.03, up a penny.

Petrohawk has properties in North Louisiana, Arkansas, South Texas, East Texas, Oklahoma and the Permian Basin.