Untitled Document
Untitled Document

Petrohawk shifts focus away from Fayetteville in 2010

While Petrohawk Energy Corp. (NYSE:HK) has 157,000 net acres in the Fayetteville shale, and proved reserves of 299 bcfe as of December 31, 2009, the company has chosen to only allocate $85 million of its $1.35 billion 2010 capital budget on the play.

While this year the company is participating in roughly 280 wells in the Fayetteville, more than are planned in any of its other unconventional plays (275 in the Haynesville and 76 in the Eagle Ford), only 15 are planned operated (110 in the Haynesville and 60 in the Eagle Ford). Most are non-operated as the company is more focused on its assets in the Eagle Ford and Haynesville shale.

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