Exploration & Production
Petrohawk Reports Haynesville, Eagle ford and Permian Basin Operational Update
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Petrohawk announced its second quarter 2011 operational and financial results, including significant growth in production, revenues, and cash flows.
Production for second quarter averaged 943 Mmcfe/d, a 15% quarter-over-quarter increase. Second quarter total production was 85,803 Mmcfe, of which approximately 89% was natural gas, 7% was crude oil or condensate, and 4% was natural gas liquids. Revenues for the quarter were $595 million, a 21% increase over first quarter 2011 and a 69% increase compared to the same period one year ago. The Company realized 92% of the average NYMEX oil price, 97% of the average NYMEX natural gas price, and 47% of the NYMEX oil price for natural gas liquids during second quarter.
Cash flow from operations before changes in working capital was $302 million for…
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