Petrohawk Energy (HK) is improving its operations in the Haynesville Shale over the last few years. During the first quarter of 2009, the company’s time to drill wells in the Haynesville Shale was 70 days, but by the end of 2009, the time to drill had been reduced to 54 days. The company has a goal of reaching 42 days during 2010.
Petrohawk Energy has also reduced its costs in other ways and the results are shown in cost per foot drilled. This metric stood at $357 per foot in the first quarter of 2009, and had been reduced to $271 per foot by the end of 2009.
