Petrohawk Energy (HK) reported earnings for the first quarter of 2010, and held a conference call to discuss the results. During the call, the company made comments on its activities in the Eagle Ford Shale.
Petrohawk Energy has 3 main areas of development in the Eagle Ford Shale – Red Hawk, Black Hawk and Hawkville.
“And within the Eagle Ford, approximately 225,000 net acres are perspective for oil and natural gas liquids as well as natural gas. Of all the risks future development locations within Eagle Ford Shale, about 2/3 of them or well over 2,000 drill sites should be crude oil and liquids rich. So while crude oil and natural gas liquids are a small part of our production today, we can grow it quickly.”
“By midyear, we should have five rigs operating in Black Hawk and three rigs operating in Hawkville. We do have one currently in Red Hawk, but after we finish this second well, we'll evaluate the results of that well and not be back there probably until the end of the year. So five in Black Hawk, three in Hawkville is the split.”
“The total acreage position in Hawkville is around 235,000; in Black Hawk, the net position is around 53,000; and the net position in Red Hawk is about 87,000.”
“On our Hawkville operated position, we have a number of, what I call, experiments where we're testing whether it'd be restricted rate or hybrid frac, versus slick-water frac or various other comparisons we can make between either production practice or completion practice. And one of those is a restricted rate well offsetting a well that's non-restricted. To the question of whether we think it has the same makeup in terms of why it should work, it's really too early to tell. They are distinctly different reservoirs in terms of their overall mineralogy.”
Source: Seeking Alpha
