One-Page Deal Sheet
Merit Energy Purchases Petrohawk's Stake in Permian Basin
Not Disclosed Petrohawk Energy Corporation
Announced Date
September 21,2009
Effective Date
July 01,2009
Close Date
October 30,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
376
Asset/Basin:
{"Permian Basin"}
Location
Region
Permian
Country
United States
State
Texas
Play
Production Production
Transaction Details: Subscribe to see
US-based Oil and gas company Petrohawk Energy Corp. said today it has sold its stake in the Permian basin for $376 million.
Proceeds from the sale will be used on shale assets, particularly developments in the Haynesville and Eagle Ford Shales, said Petrohawk in a statement.
The sale is expected to close by 30 October with an effective date of 1 July.
Last year, Petrohawk reported estimated proved reserves at its Permian Basin assets of 177 billion cubic feet equivalent for these assets, which produce about 30 million cubic feet per day.
The sale of the assets, located in the western part of…
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