Petrohawk Energy Corporation has entered into agreements with several private parties to acquire additional leasehold interests in the Haynesville Shale area of North Louisiana. These agreements also include rights to other formations.
These additions bring Petrohawk's acreage position in the Haynesville Shale play to over 70,000 net acres, including approximately 30,000 net acres in Elm Grove field, historically the Company's largest producing property with natural gas production from the Hosston and Cotton Valley formations.
"This expansion in the emerging Haynesville Shale play is part of our ongoing efforts to add substantially to our lower-risk, higher-margin inventory of drilling opportunities in core areas where we bring experience and economies of scale to the table," said Floyd C. Wilson, Chairman, President and CEO.
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