BHP Billiton to buy Petrohawk in $12.1 billion deal

07/25/2011
BHP Billiton Petroleum will acquire Petrohawk Energy Corp., Houston, for $12.1 billion, giving the Australian firm operated positions in the US Eagle Ford and Haynesville shale resource plays and the Permian basin.Under a definitive agreement announced late Thursday, BHP Billiton will make a cash tender offer by July 25 of $38.75 for Petrohawk shares. The Australian firm said that represents $12.1 billion in total equity value and $15.1 billion in total enterprise value, including assumption of debt.Petrohawk's board unanimously urged its shareholders to accept. The company said BHP Billiton will retain Petrohawk's US work force.Petrohawk has a nonproved resource base of 32 tcf equivalent...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected