Petrohawk Energy (HK) is presenting today at the Howard Weil conference in New Orleans, and the company has updated its operations in the Red Hawk prospect in the Eagle Ford Shale. The Red Hawk prospect is located in the oil window of the Eagle Ford Shale in Zavala County, Texas.
Petrohawk Energy said that the Mustang Ranch #1H was completed with a 5000-foot lateral and a 14 stage hydraulic fracturing operation. The well was producing with an initial production rate of 350 barrels per day of oil. The company is spudding a second well in April 2010.
Petrohawk Energy has 90,000 net acres under lease and estimates that wells here will cost from $4.0 to 4.5 million, and have an estimated ultimate recovery of 150,000 to 250,000 barrels of oil.