Petrohawk Energy (HK) reported earnings for the fourth quarter of 2009, and held a conference call on February 23, 2010, to discuss the results. The company provided additional details on the geology of some of its acreage in the Eagle Ford Shale. Petrohawk Energy is moving to develop its Red Hawk Prospect located in the northern part of the Eagle Ford Shale.
“We stand ahead of the drilling rigs with our pipeline and treating design and installation. So we don’t -- we anticipate a very smooth year in terms of deliverables -- deliverabilities.”
“There is significant geologic variety in the Eagle Ford. The industry needs much more drilling and thereby much more data… Play varies in depth, porosity, and hydrocarbon mix.”
Red Hawk
“Geologically, the rocks are very, very similar to what we see in Hawkville, but just a little bit thinner. So in terms of petrophysical properties and the things that you want to see in the rock, we are very encouraged. The biggest issue is the perm to oil. This is not condensate -- gas condensate. It’s most likely oil. So that’s what we need to learn as to what kind of rates we can get out of these rocks. But based upon the quality of the rock, I think we have a good chance of having commercial production. “
“In terms of additional acreage, I think my answer would be that in Hawkville there is very little. We’ve been active in expanding the play to the northeast. We saw an opportunity there, and I think we took it. We’re looking at various parts of the play. There is just more information coming out daily that is getting us interested in other areas that initially we weren’t sure are going to be commercial. So I think as we learn more, we may add a little bit more, but not aggressively.”
Source: Seeking Alpha
