Petrohawk Energy Q1 2009 Earnings Call Transcript

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2009-05-06 13:49:13.0

Tags: J.P. Morgan Chase & Co., Call Transcript, Earnings, Seeking Alpha, Petrohawk Energy Corp.

Question-and-Answer Session

Operator

(Operator Instructions). Your first question comes from the line of Joe Allman with JPMorgan.

Joseph Allman - JPMorgan

Thank you and good morning, everybody.

Floyd Wilson

Hi, Joe.

Joseph Allman - JPMorgan

Floyd, could you talk about the status of that well (ph) that you previously said you were extremely encouraged by and also just talk about what's your activity been so far in the East Texas. And what's your acreage position there? And I have a follow up too?

Floyd Wilson

Well, we haven't disclosed our specific acreage position in East Texas. We are continuing to add acreage down there, Joe. We have disclosed our AMT down there with EOG, another great operator. And we're very encouraged by activities down there but we're not prepared to comment on that well at this time.

Joseph Allman - JPMorgan

Okay. Could you talk just about other activity, you're active with more than just the one well or are you?

Floyd Wilson

we are Joe, in fact we're adding rigs down in that southern area of the play in East Texas with EOG through the course of the year. We basically finished our drilling activities here in County area for now. And that's sort of our activity level a couple of one or two operated rigs due to the course of the year and three or four non-operated rigs to the course of the year.

Joseph Allman - JPMorgan

Okay, it's helpful. And then, I think previously you talked about acquiring some more acreage in the Haynesville and you just said you're looking at acquire some more in East Texas. Are you presently acquiring acreage in Louisiana side as well?

Floyd Wilson

We are very strategically oriented in terms of our current position and what we consider to be our focus area of the play, we are.

Joseph Allman - JPMorgan

Okay. And then Floyd you said, I think you mentioned one well in particular in Bossier Parish 22 plus million a day and did I get that right?

Floyd Wilson

Yes, you did.

Joseph Allman - JPMorgan

Okay, All right, great. Very helpful. Thank you.

Floyd Wilson

That was just the latest in the series of wells as you know we've got 10 rigs running there and the point of even bringing that well up is that our results are still consistent with our earlier results than we've reported.

Joseph Allman - JPMorgan

 

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