Petrohawk Energy (HK) issued an operations update on its oil and gas activities during the third quarter of 2010, and reported on its Fayetteville Shale acreage. The company reported average daily production of 95 million cubic feet of natural gas equivalents from its Fayetteville Shale properties, and drilled 149 total wells (2 operated, 147 non operated) during the quarter.
Petrohawk Energy also established a $1.9 billion budget for drilling and completion activities in 2011. The company has allocated $100 million of this total for development of the Fayetteville Shale. Petrohawk Energy has put up for sale the company’s midstream and natural gas assets in the Fayetteville Shale.