Petrohawk Energy plans Terryville Field Area expansion

Published Nov 16, 2007
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Petrohawk Energy Corporation

Petrohawk Energy Corporation plans to acquire a majority working interest in approximately 8,000 additional acres in Lincoln Parish, Louisiana. The area is a contiguous westward extension of the Company's current leasehold block of approximately 60,000 acres at Terryville Field, and was identified as highly prospective in multiple zones by a recently acquired 50-square-mile 3D seismic survey.

In addition to Lower Cotton Valley and Gray Sand potential, the 3D seismic data revealed Bossier potential in the field. A 60-square-mile 3D survey will be initiated on the new property and merged with the existing dataset with drilling expected to commence on the newly acquired acreage in early 2008. Additionally, the Hosston zone is known to be productive on the newly acquired acreage.

Terryville Field (Lincoln Parish, Louisiana) is located northeast of the Company's holdings at Elm Grove field, a large-scale Lower Cotton Valley and Hosston development play. While much of the Lower Cotton Valley at Terryville has been developed on a 40-acre spacing basis, Petrohawk initiated a 20-acre spacing program during 2007 that has produced results comparable to 40-acre spaced wells.

"Our Lower Cotton Valley, Gray Sand, and now Bossier and Hosston exploration and development in the Terryville area are a dynamic piece of our future growth and investment," said Floyd C. Wilson, Chairman, President and CEO. "We have allocated over $100 million of our 2008 capital budget to Terryville projects with the expectation to grow production and the field's overall potential."

Tags: Petrohawk Energy Corporation


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