By OGJ editors
HOUSTON, Feb. 7 -- Petrohawk Energy Corp. has agreed to sell nearly all its Gulf of Mexico properties to a private company for $52.5 million. It also closed a purchase of producing properties in North Louisiana.
The Houston independent did not identify the buyer of its Gulf of Mexico interests, which produce about 10 MMcfd of gas equivalent from internally estimated reserves as of Dec. 31, 2005, of 26 bcf of gas equivalent—70% gas, 59% proved developed, and 27% operated. The transaction is expected to close in March.
Petrohawk acquired the North Louisiana gas properties from two sellers for $262 million. In December, it said the properties, in Elm Grove and Caspiana fields, produced about 16 MMcfd of gas equivalent from proved reserves of 106 bcf, of which 29% was proved developed.
