Wednesday, September 9, 2009

The Hawk and the Tail

Petrohawk was one of the presenters at Barclay's Energy/Power Conference that is going on this week.  Since the company provided an operational update in August, there was not a whole lot of new information.

One thing that was interesting was the discussion of the southwestern portion of the Haynesville Play that dips  into Shelby and Nacogdoches Counties, TX.  There is new leasing activity in the area, and Petrohawk is taking a partnership approach, working with a couple of companies that don't have much Haynesville exposure, Newfield and Noble, along with EOG Resources.  Other participants in the area are XTO, Common Resources and Devon.  The company has completed two wells and two more are waiting to be fracked.  The slides below give more detail, but in the coming months we will know more about the area's potential.

Petrohawk is still very excited about its core Louisiana proprties, but with the low natural gas prices it seems to have narrowed its focus on the wells that are most economically feasible, located inside the circle below.

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