From E&P Magazine - http://www.epmag.com/2010/August/item66242.php

"Big players step up in big games, and at Enercom’s The Oil and Gas Conference in Denver on Tuesday, Floyd Wilson, chairman and CEO of Petrohawk Corp., tried for a big save in the low-natural-gas-price game: he announced the company would lay down one to two rigs in the Haynesville shale through the remainder of 2010, and more in 2011."

However, the Haynesville is still #1 for them...

“In my opinion, you’re not going to see another field like the Haynesville. The Marcellus is big, but in the Haynesville on a regular basis you get 20- and 30 million cubic feet per day wells, all over the place. It’s gone from zero to 2.5 billion a day in two and a half years—it’s quite a field."

Wilson added, “Business 101 says it’s time to slow down. I hope the industry will take a similar tack.”

Tags: petrohawk

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Replies to This Discussion

I hope they all lay 50% down like 2008 and maybe prices of NG will get stable in 6-7 range long term, especially if Boone Picken Plan to convert 18 Wheeler to NG get passed.
I hope they don't drill my lease before it expires next year. I would love for them to have to pay me some more signing bounes money. Thank god we signed a three year lease with on option.

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