Petrohawk Energy Corp.

Transaction Type
Sellers
Marketers
Basin
Midcontinent, Anadarko, Arkoma, East Texas
Post Date
Close Date
Estimated Price
0MM
Description

Petrohawk Energy Corp., Houston, (NYSE: HK) has retained BMO Capital Markets to sell certain Midcontinent assets in Oklahoma, Texas and Arkansas.

The package includes assets in conventional and resource-type plays in the Anadarko and Arkoma basins and in East Texas. Net production is approximately 16 million cubic feet equivalent per day, with net cash flow of approximately $1.9 million per month. Total proved reserves are 79 billion cubic feet equivalent (52 Bcfe proved developed producing).

The large producing base holds long-life reserves (reserve-life index of 13 years) with upside potential in emerging producing areas, including the Woodford and Cana shale, Granite Wash, Cleveland, Freestone and core East Texas trends.

Upside also includes identified opportunities in 54 nonproducing wells, behind-pipe recompletes, ongoing waterflood response activities and 49 drilling leads.

The data room opens July 26. The bid due date is Aug. 18. Contact Miles Redfield, 713-546-9715, miles.redfield@bmo.com.