Thursday, November 13, 2008

Petrohawk Announces Results from Five Haynesville Wells

In a presentation at the Bank of America 2008 Energy Conference on November 12, Petrohawk announced that it has five producing Haynesville Wells producing between 15 and 20 MMcfe/day with gross production of 55 MMcfe/day (link to presentation). Given Petrohawk's recent production, the company estimates that its total "risked" reserves in the Haynesville Shale is 11.9 Tcfe (that's Trillion). That's a lot of gas.

The five wells are clustered in the area where Caddo, Bossier and DeSoto Parishes meet. Three are in southern Bossier T16N R11W (EGP #63, #64 and #65; 15.4 - 16.8 MMcfe/day), one is in southern Caddo T15N R12W (Hutchinson 9 #5; 20.1 MMcfe/day) and the fifth is in northern DeSoto T15N R13W (Hunt Plywood 35 #1; 17.0 MMcfe/day).

The presentation has a map on page 9 showing the producing sites and the sites where Petrohawk is currently drilling and plans to drill in Q4 2008. Most of those sites are in southern Bossier and northern Red River Parishes. Additionally, Petrohawk has non-operating interests in a number of wells in southwest Caddo Parish that will be drilled in Q4 2008. In 2009, Petrohawk plans to drill 75 wells on leases it operates.

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