Petrohawk Energy Corporation Valuation Report, August 2010 - Strategic and Operational Analysis


#29566

124pages

GlobalData

$ 3500

In Stock


The Petrohawk Energy Corporation (Petrohawk) is an independent oil and gas company engaged in the development, exploration and production of crude oil and natural gas in the US. The company operates in the mid-stream segment through its subsidiary Hawk Field Services, LLC (Hawk Field Services), which is engaged in the construction of gathering systems and treating facilities for the Haynesville and Fayetteville shales. 

Petrohawk primarily operates in four premier shale plays: the Haynesville and Bossier Shales in North Louisiana and East Texas, the Fayetteville Shale and the Eagle Ford Shale in South Texas.

Scope

Investment Thesis: This section highlights the companies new ventures, liquidity issues, assets analysis, hedging, new projects details, capex funding, geographical results of oil and gas operations, and other related analysis. 

Goals and Strategies: Provide highlights on their existing and upcoming challenges with the possible strategies. 

SWOT: This section highlights the companies internal strength, weakness, opportunities and threats to better understand their position in the market

Production and Development profile: This section highlights the companies forecasted crude oil and natural gas production from their existing and upcoming assets. It also covers the detailed information and analysis on the producing and development assets. 

Exploration and M&A trends: This section includes exploration assets information resulted due to new discoveries, new drilling and other activities. Additionally, M&A section highlights the companies recent assets transactions, joint ventures, acquisition, and divestment activities during the specified period. 

Financial Forecast and Valuation: This section highlights the detailed financial forecast of the companies for coming five years. This section also provides intrinsic value of the companies by using different valuation techniques. 

Peer Group: This section compares peer group performance with the main companies on the basis of share prices, financial ratios, operational and financial parameters and other related activities. 

Reasons to buy

The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to:

  • Provide detailed analysis to those who are interested in knowing the companies existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates. 
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies. 
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Table Of Contents

1 Table of contents 3
1.1 List of Tables 6
1.2 List of Figures 8

2 Petrohawk Energy Corporation, Company Overview 11

3 Petrohawk Energy Corporation, Watchlist for 2010 15

4 Petrohawk Energy Corporation, Investment Summary 16
4.1 Huge Undeveloped Inventory to Offer High Growth Prospects 16
4.2 Balancing the Production Portfolio 17
4.3 Capex Funding Through Asset Monetization 18

5 Petrohawk Energy Corporation, SWOT Analysis 20
5.1 Strengths 20
5.1.1 Huge Potential Reserves 20
5.1.2 Consistent Growth 21
5.1.3 Strong Hedging Mechanism 21
5.2 Weaknesses 22
5.2.1 High Dependence on Natural Gas 22
5.3 Opportunities 22
5.3.1 Increased Oil Production May Lead to Increased Revenues and Profitability 22
5.3.2 Monetization of Assets 22
5.4 Threats 23
5.4.1 Insufficient Access to Funds may Derail the Growth Plans 23

6 Petrohawk Energy Corporation, Goals and Strategies 25
6.1 Enhance Liquidity Position Through Disposal of Non-Core Assets 25
6.2 Operational Efficiency 25
6.3 Increasing the Share of Oil in the Total Production Portfolio 26
6.4 Ensuring Sufficient Funds for Growth 26

7 Petrohawk Energy Corporation, Production and Development Overview 28
7.1 Production Highlights 28
7.2 Haynesville to Drive Natural Gas Production Growth 31
7.3 Operations in Fayetteville to Remain Flat 31
7.4 Eagle Ford Shale to Drive Oil Production Growth 31
7.5 Cost Incurred and Acreage 34

8 Petrohawk Energy Corporation, Exploration and M&A Highlights 36
8.1 Exploration Profile 36
8.2 M&A Activity 37

9 Petrohawk Energy Corporation, Marketing and Midstream Updates 39

10 Petrohawk Energy Corporation, Outlook 41

11 Petrohawk Production Corporation, Forecast Production and Financial Statements 42
11.1 Income Statement (20072014) 43
11.2 Balance Sheet (20072014E) 44
11.3 Cash Flow Statement (20072014) 45
11.4 Financial Ratios 46

12 Petrohawk Energy Corporation, Valuation 48
12.1 Net Asset Value 48

13 Petrohawk Energy Corporation, Peer Comparision 51
13.1 Share Price Performance 51
13.2 Financial and Operational Performance 51

14 Petrohawk Energy Corporation, Key Risks 56
14.1 High Dependence on Natural Gas 56
14.2 Inability to Fund Capex 56
14.3 Midstream Capacity Constraints 56

15 Petrohawk Energy Corporation, Detailed Financial and Operational Metrics 57
15.1 Petrohawk Energy Corporation, Quarterly Results of Oil and Gas Operations Per boe Produced 57
15.1.1 Results of Oil and Gas Operations Per boe Produced, Q2, 2009Q2, 2010 57
15.1.2 Results of Oil and Gas Operations Per boe Growth Rates, Q2, 2009Q2, 2010 57
15.2 Petrohawk Energy Corporation, Quarterly E&P Cost Trends 58
15.2.1 Upstream Capital Expenditure, Q2, 2009Q2, 2010 58
15.3 Petrohawk Energy Corporation, Quarterly Production Trends 59
15.3.1 Total Crude Oil and Natural Gas Production Trend, Q2, 2009Q2, 2010 59
15.3.2 Total Crude Oil and Natural Gas Production, By Country/Region, Q2, 2009Q2, 2010 60
15.4 Petrohawk Energy Corporation, Crude Oil Production 61
15.4.1 Total Crude Oil Production Trend, Q2, 2009Q2, 2010 61
15.4.2 Crude Oil Production, The US, Q2, 2009Q2, 2010 62
15.5 Petrohawk Energy Corporation, Natural Gas Production 63
15.5.1 Total Natural Gas Production Trend, Q2, 2009Q2, 2010 63
15.5.2 Natural Gas Production, By Country/Region, Q2, 2009Q2, 2010 64
15.6 Petrohawk Energy Corporation, Production and Reserves Trends 65
15.6.1 Total Crude Oil and Natural Gas Production and Reserves Trends, 20042009 65
15.6.2 Total Crude Oil and Natural Gas Production and Reserves, MMboe, 20042009 66
15.6.3 Total Crude Oil and Natural Gas Reserve Changes, 2004-2009 68
15.7 Crude Oil/Liquids Production and Reserve 69
15.7.1 Crude Oil/Liquids Production and Reserve Trends, 20042009 69
15.7.2 Crude Oil Production and Reserves, The US, 20042009 70
15.7.3 Crude Oil/Liquids Reserve Changes, 20042009 72
15.8 Natural Gas Production and Reserves 73
15.8.1 Natural Gas Production and Reserve Trends, 20042009 73
15.8.2 Natural Gas Production and Reserves, By Country/Region, 20042009 74
15.8.3 Natural Gas Reserve Changes, 20042009 76
15.9 Total Crude Oil and Natural Gas Reserve Life Index 77
15.9.1 Total Crude Oil and Natural Gas Reserve Life Index, 20042009 77
15.9.2 Total Crude Oil and Natural Gas Reserve Life Index, By Country/Region, 20042009 78
15.10 Petrohawk Energy Corporation, E&P Costs Trends 80
15.10.1 Upstream Capital Expenditure, 20042009 80
15.10.2 Acquisition Costs By Country/Region, 20042009 81
15.10.3 Exploration and Development Costs, By Country/Region, 20042009 83
15.11 Oil and Gas Cost Per boe, $/boe 85
15.11.1 Oil and Gas Cost Per boe, $/boe, 20042009 85
15.11.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 20042009 87
15.12 Petrohawk Energy Corporation, Reserve Replacement Ratio 90
15.12.1 Oil and Gas Production Replacement Ratio, 20042009 90
15.12.2 Oil and Gas Production Replacement Ratio, The US, 20042009 92
15.13 Petrohawk Energy Corporation, Results of Oil and Gas Operations Trend 96
15.13.1 Oil and Gas Revenue and Expenses, 2004-2009 96
15.13.2 Oil and Gas Revenue and Expenses, By Country/Region, 20042009 97
15.14 Oil and Gas Revenue and Expenses, Per boe 101
15.14.1 Oil and Gas Revenue and Expenses, By boe, 20042009 101
15.14.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 20042009 102
15.15 Oil and Gas Performance Metrics 106
15.16 Petrohawk Energy Corporation, Land Holdings and Well Data 107
15.16.1 Gross and Net Developed and Undeveloped Acreage, 20042009 107
15.16.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 20042009 108
15.17 Well Statistics 111
15.17.1 Producible Oil and Gas Wells, 20042009 111
15.17.2 Producible Oil and Gas Well, By Country/Region, 20042009 112
15.17.3 Exploration and Development Wells Drilled, 20042009 116
15.17.4 Exploration and Development Wells Drilled, By Country/Region, 20042009 117
15.17.5 Developed Reserves per Well, Oil (Mbbl per Well), Gas (MMcf per Well), Oil and Gas (Mboe per Well), 20042009 118
15.17.6 Developed Reserves per Well, By Country/Region, 20042009 119

16 Appendix 121
16.1 Methodology 121
16.1.1 Coverage 121
16.1.2 Secondary Research 121
16.1.3 Primary Research 121
16.2 Data Sources 122
16.2.1 Company Source 122
16.2.2 SEC/Other Regulatory Filings 122
16.2.3 Agency Reports 122
16.2.4 Other Sources 122
16.3 Expert Panel Validation 122
16.4 Definitions 122
16.5 Units of Measure 123
16.6 Other Abbreviations 123
16.7 About GlobalData 124
16.8 Disclosure 124
16.9 Disclaimer 124
 
Table 1: Petrohawk Energy Corporation, Key Events, May 2009June 2010 14
Table 2: Petrohawk Energy Corporation, Upstream Growth Profile, 20102014 30
Table 3: Petrohawk Energy Corporation, Recent Transactions as a Seller, 20052010 37
Table 4: Petrohawk Energy Corporation, Recent Transactions as a Buyer, 20052010 37
Table 5: Petrohawk Energy Corporation, Forecast Production, 20062014 42
Table 6: Petrohawk Energy Corporation, Price Forecast, 20102014 42
Table 7: Petrohawk Energy Corporation, Income Statement ($m), 20072014 43
Table 8: Petrohawk Energy Corporation, Balance Sheet ($m), 20072014 44
Table 9: Petrohawk Energy Corporation Petroleum Corporation, Cash Flow Statement ($m), 20072014 45
Table 10: Petrohawk Energy Corporation, Profitability Ratios, 20072014 46
Table 11: Petrohawk Energy Corporation, Other Financial Ratios, 20072014 47
Table 12: GlobalData, Price Forecast, 20102014 48
Table 13: Petrohawk Energy Corporation, Net Asset Value, 2010 49
Table 14: Petrohawk Energy Corporation, Prospective Acreage and Non Proven Reserves, 2010 49
Table 15: Petrohawk Energy Corporation, The US, NPV of Natural Gas Reserves, $/Mcf, 2010 49
Table 16: Petrohawk Energy Corporation, The US, NPV of Oil/NGL Reserves, $/bbl, 2010 50
Table 17: Petrohawk Energy Corporation, The US, NPV OF Total Oil and Natural Gas Reserves, $/boe, 2010 50
Table 18: Petrohawk Energy Corporation, Sensitivity Analysis on Fair Value ($/share), 2010 50
Table 19: Petrohawk Energy Corporation and Peer Group Comparison, Financial Ratios, 2009 52
Table 20: Petrohawk Energy Corporation and Peer Group Comparison, Operational and Financial Performance, 2009 53
Table 21: Petrohawk Energy Corporation, Results of Oil and Gas Operations Per boe Produced, $/boe, Q2, 2009Q2, 2010 57
Table 22: Petrohawk Energy Corporation, Results of Oil and Gas Operations Per boe Growth Rates, %, Q2, 2009Q2, 2010 57
Table 23: Petrohawk Energy Corporation, Upstream Capital Expenditure, Q2, 2009Q2, 2010 58
Table 24: Petrohawk Energy Corporation, Total Crude Oil and Natural Gas, Production, Q2, 2009Q2, 2010 59
Table 25: Petrohawk Energy Corporation, Total Oil and Gas Production, By Country/Region, MMboe, Q2, 2009Q2, 2010 60
Table 26: Petrohawk Energy Corporation, Total Crude Oil Production, MMbbl, Q2, 2009Q2, 2010 61
Table 27: Petrohawk Energy Corporation, Crude Oil Production, By Country/Region, MMbbl, Q2, 2009Q2, 2010 62
Table 28: Petrohawk Energy Corporation, Total Natural Gas Production, Bcf, Q2, 2009Q2, 2010 63
Table 29: Petrohawk Energy Corporation, Natural Gas Production, By Country/Region, Bcf, Q2, 2009Q2, 2010 64
Table 30: Petrohawk Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 20042009 65
Table 31: Petrohawk Energy Corporation, Total Crude Oil and Natural Gas Production and Reserves, By Country/Region, MMboe, 20042009 67
Table 32: Petrohawk Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 20042009 68
Table 33: Petrohawk Energy Corporation, Crude Oil Production and Reserve Metrics, MMbbl, 20042009 69
Table 34: Petrohawk Energy Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 20042009 71
Table 35: Petrohawk Energy Corporation, Crude Oil Reserve Changes, MMbbl, 20042009 72
Table 36: Petrohawk Energy Corporation, Natural Gas Production and Reserve Metrics, Bcf, 20042009 73
Table 37: Petrohawk Energy Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 20042009 75
Table 38: Petrohawk Energy Corporation, Natural Gas Reserve Changes, Bcf, 20042009 76
Table 39: Petrohawk Energy Corporation, Oil and Gas Reserve Life Index, Years, 20042009 77
Table 40: Petrohawk Energy Corporation, Oil and Gas Reserve Life Index, By Country/Region, Years, 20042009 79
Table 41: Petrohawk Energy Corporation, Upstream Capital Expenditure, $m, 20042009 80
Table 42: Petrohawk Energy Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 20042009 82
Table 43: Petrohawk Energy Corporation, Exploration and Development Costs, By Country/Region, $m, 20042009 84
Table 44: Petrohawk Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 20042009 85
Table 45: Petrohawk Energy Corporation, Reserve Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, the US, 20042009 89
Table 46: Petrohawk Energy Corporation, Oil and Gas Production Replacement Ratio, %, 20042009 90
Table 47: Petrohawk Energy Corporation, 3-Year Wt. Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 20042009 95
Table 48: Petrohawk Energy Corporation, Revenue and Expenses, $m, 20042009 96
Table 49: Petrohawk Energy Corporation, Revenue and Expenses, The US, $m, 20042009 100
Table 50: Petrohawk Energy Corporation, Oil and Gas Revenue and Expenses, $/boe, 20042009 101
Table 51: Petrohawk Energy Corporation, Oil and Gas Revenue and Expenses, $/boe, The US, 20042009 105
Table 52: Petrohawk Energy Corporation, Oil and Gas Performance Metrics, 20042009 106
Table 53: Petrohawk Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 20042009 107
Table 54: Petrohawk Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 20042009 110
Table 55: Petrohawk Energy Corporation, Producible Oil and Gas Wells, 20042009 111
Table 56: Petrohawk Energy Corporation, Producible Oil and Gas Wells, The US, 20042009 115
Table 57: Petrohawk Energy Corporation, Exploratory and Developed Wells, 20042009 116
Table 58: Petrohawk Energy Corporation, Exploratory and Developed Wells, By Country/Region, 20042009 117
Table 59: Petrohawk Energy Corporation, Developed Reserves per Well, Oil (Mbbl per Well), Gas (MMcf per Well), Oil and Gas (Mboe per Well), 20042009 118
Table 60: Petrohawk Energy Corporation, Developed Reserves per Well, By Country/Region, Mboe per Well, 20042009 120 
Figure 1: Petrohawk Energy Corporation, Operational Overview, 2010 11
Figure 2: Petrohawk Energy Corporation, Financial and Operational Overview, 20062009 12
Figure 3: Petrohawk Energy Corporation, Share Price Performance, July 2009July 2010 13
Figure 4: Petrohawk Energy Corporation, Total Proved Reserves by Type, %, 20062009 17
Figure 5: Petrohawk Energy Corporation, Total Production, MMboe, 20062014 18
Figure 6: Eagle Ford Shale, Major Players by Acreage, 2009 21
Figure 7: Petrohawk Energy Corporation, Cash Flow from Operations vs. Capex, 20062009 23
Figure 8: Petrohawk Energy Corporation vs. Peers, Finding and Development Cost per Mcfe, 20062009 26
Figure 9: Petrohawk Energy Corporation, Total Production, MMboe, 20072014 29
Figure 10: Petrohawk Energy Corporation, Total Production by Region, MMboe, 20072014 30
Figure 11: Petrohawk Energy Corporation, Eagle Ford Operations, 2010 32
Figure 12: Petrohawk Energy Corporation, Black Hawk, Overview, 2010 33
Figure 13: Petrohawk Energy Corporation, Red Hawk, Overview, 2010 33
Figure 14: Petrohawk Energy Corporation, Cost Incurred, 20052009 34
Figure 15: Petrohawk Energy Corporation, Drilling Budget, $m, 2010 35
Figure 16: Petrohawk Energy Corporation, Lower Bossier Shale Operational Map, 2010 36
Figure 17: Petrohawk Energy Corporation, Mid-stream Operations, Kinder Hawk Field Services, 2010 39
Figure 18: Petrohawk Energy Corporation, Relative Performance Charts, 20062009 51
Figure 19: Petrohawk Energy Corporation and Peer Group, F&D Costs and Reserve Replacement, 2009 54
Figure 20: Petrohawk Energy Corporation and Peer Group, E&P Operational and Financial Performance, $/boe, 2009 54
Figure 21: Petrohawk Energy Corporation and Peer Group, Total Reserves and Production, MMboe, 2009 55
Figure 22: Petrohawk Energy Corporation and Peer Group, Comparative Valuation Multiples, 2010 55
Figure 23: Petrohawk Energy Corporation, Results of Oil and Gas Operations Per boe Produced, $/boe, Q2, 2009Q2, 2010 57
Figure 24: Petrohawk Energy Corporation, Upstream Capital Expenditure, $m, Q2, 2009Q2, 2010 58
Figure 25: Petrohawk Energy Corporation, Total Crude Oil and Natural Gas, Production, MMboe, Q2, 2009Q2, 2010 59
Figure 26: Petrohawk Energy Corporation, Total Oil and Gas Production, MMboe, Q2, 2009Q2, 2010 60
Figure 27: Petrohawk Energy Corporation, Total Crude Oil Production, MMbbl, Q2, 2009Q2, 2010 61
Figure 28: Petrohawk Energy Corporation, Crude Oil Production, MMbbl, Q2, 2009Q2, 2010 62
Figure 29: Petrohawk Energy Corporation, Total Natural Gas Production, Bcf, Q2, 2009Q2, 2010 63
Figure 30: Petrohawk Energy Corporation, Natural Gas Production Bcf, Q2, 2009Q2, 2010 64
Figure 31: Petrohawk Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 20042009 65
Figure 32: Petrohawk Energy Corporation, Total Proved Oil and Gas Reserves, The US, MMboe, 20042009 66
Figure 33: Petrohawk Energy Corporation, Total Oil and Gas Production, The US, MMboe, 20042009 66
Figure 34: Petrohawk Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2009 68
Figure 35: Petrohawk Energy Corporation, Crude Oil Production and Reserve Metrics, MMbbl, 20042009 69
Figure 36: Petrohawk Energy Corporation, Total Proved Oil Reserves, The US, MMbbl, 20042009 70
Figure 37: Petrohawk Energy Corporation, Oil Production, The US, MMbbl, 20042009 70
Figure 38: Petrohawk Energy Corporation, Crude Oil Reserve Changes, MMbbl, 2009 72
Figure 39: Petrohawk Energy Corporation, Natural Gas Production and Reserve Metrics, Bcf, 20042009 73
Figure 40: Petrohawk Energy Corporation, Total Proved Gas Reserves, The US, Bcf, 20042009 74
Figure 41: Petrohawk Energy Corporation, Gas Production, The US, Bcf, 20042009 74
Figure 42: Petrohawk Energy Corporation, Natural Gas Reserve Changes, Bcf, 2009 76
Figure 43: Petrohawk Energy Corporation, Oil and Gas Reserve Life Index, Years, 20042009 77
Figure 44: Petrohawk Energy Corporation, Gas Reserve Life Index, The US, Years, 20042009 78
Figure 45: Petrohawk Energy Corporation, Oil and Gas Reserve Life Index, The US, 20042009 78
Figure 46: Petrohawk Energy Corporation, Oil Reserve Life Index, By Country/Region, Years, 20042009 79
Figure 47: Petrohawk Energy Corporation, Upstream Capital Expenditure, $m, 20042009 80
Figure 48: Petrohawk Energy Corporation, Proved Acquisition Costs, The US, $m, 20042009 81
Figure 49: Petrohawk Energy Corporation, Unproved Acquisition Costs, The US, $m, 20042009 81
Figure 50: Petrohawk Energy Corporation, Development Costs, The US, $m, 20042009 83
Figure 51: Petrohawk Energy Corporation, Exploration Costs, The US, $m, 20042009 83
Figure 52: Petrohawk Energy Corporation, 3-Year Wt. Avg., Reserve Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 20042009 85
Figure 53: Petrohawk Energy Corporation, 3-Year Wt. Avg. Oil and Gas Finding and Development Cost per boe, The US, $/boe, 20042009 87
Figure 54: Petrohawk Energy Corporation, 3-Year Wt. Avg. Oil and Gas Finding Cost per boe, The US, $/boe, 20042009 87
Figure 55: Petrohawk Energy Corporation, 3-Year Wt. Avg. Reserve Replacement Cost per boe, The US, $/boe, 20042009 88
Figure 56: Petrohawk Energy Corporation, 3-Year Wt. Avg. Proved Acquisition Cost per boe, The US, $/boe, 20042009 88
Figure 57: Petrohawk Energy Corporation, 3-Year Wt. Avg., Oil and Gas Production Replacement Ratio, %, 20042009 90
Figure 58: Petrohawk Energy Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, The US, %, 20042009 92
Figure 59: Petrohawk Energy Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, The US, %, 20042009 92
Figure 60: Petrohawk Energy Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, The US, %, 20042009 93
Figure 61: Petrohawk Energy Corporation, 3-Year Wt. Avg. Oil and Gas RRC Production Replacement, By Country/Region, %, 20042009 93
Figure 62: Petrohawk Energy Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, The US, %, 20042009 94
Figure 63: Petrohawk Energy Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, The US, %, 20042009 94
Figure 64: Petrohawk Energy Corporation, Revenue and Expenses, $m, 20042009 96
Figure 65: Petrohawk Energy Corporation, Depreciation, Depletion and Amortization , The US, $m, 20042009 97
Figure 66: Petrohawk Energy Corporation, Income Tax/(Benefit), The US, $m, 20042009 97
Figure 67: Petrohawk Energy Corporation, Net Income/ Loss, The US, $m, 20042009 98
Figure 68: Petrohawk Energy Corporation, Oil and Gas Revenue, The US, $m, 20042009 98
Figure 69: Petrohawk Energy Corporation, Pre-tax Profit, The US, $m, 20042009 99
Figure 70: Petrohawk Energy Corporation, Production Expenses, The US, $m, 20042009 99
Figure 71: Petrohawk Energy Corporation, Total Expenses, The US, $m, 20042009 100
Figure 72: Petrohawk Energy Corporation, Oil and Gas Revenue and Expenses, $/boe, 20042009 101
Figure 73: Petrohawk Energy Corporation, Income Tax/(Benefit) per boe, The US, $/boe, 20042009 102
Figure 74: Petrohawk Energy Corporation, Lifting Cost per boe, The US, $/boe, 20042009 102
Figure 75: Petrohawk Energy Corporation, Annual Net Income per boe, The US, $/boe, 20042009 103
Figure 76: Petrohawk Energy Corporation, Oil and Gas Revenue per boe, The US, $/boe, 20042009 103
Figure 77: Petrohawk Energy Corporation, Total DD&A per boe, The US, $/boe, 20042009 104
Figure 78: Petrohawk Energy Corporation, Total Revenue per boe, The US, $/boe, 20042009 104
Figure 79: Petrohawk Energy Corporation, Oil and Gas Performance Metrics, 20042009 106
Figure 80: Petrohawk Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 20042009 107
Figure 81: Petrohawk Energy Corporation, Total Gross Undeveloped Acreage, The US, Acres, 20042009 108
Figure 82: Petrohawk Energy Corporation, Total Net Undeveloped Acreage, The US, Acres, 20042009 108
Figure 83: Petrohawk Energy Corporation, Total Gross Developed Acreage, The US, Acres, 20042009 109
Figure 84: Petrohawk Energy Corporation, Total Net Developed Acreage, The US, Acres, 20042009 109
Figure 85: Petrohawk Energy Corporation, Producible Oil and Gas Wells, 20042009 111
Figure 86: Petrohawk Energy Corporation, Gross Producible Gas Wells, The US, Number, 20042009 112
Figure 87: Petrohawk Energy Corporation, Gross Producible Oil and Gas Wells, The US, Number, 20042009 112
Figure 88: Petrohawk Energy Corporation, Gross Producible Oil Wells, The US, Number, 20042009 113
Figure 89: Petrohawk Energy Corporation, Net Oil and Gas Wells as % of Gross Oil and Gas Wells, The US, %, 20042009 113
Figure 90: Petrohawk Energy Corporation, Net Producible Gas Wells, The US, Number, 20042009 114
Figure 91: Petrohawk Energy Corporation, Net Producible Oil and Gas Wells, The US, Number, 20042009 114
Figure 92: Petrohawk Energy Corporation, Net Producible Oil Wells, The US, Number, 20042009 115
Figure 93: Petrohawk Energy Corporation, Exploratory and Developed Wells, 20042009 116
Figure 94: Petrohawk Energy Corporation, Developed Gas Reserves per Well (MMcf per Well), The US, 20042009 119
Figure 95: Petrohawk Energy Corporation, Developed Oil and Gas Reserves per Well (Mboe per Well), The US, 20042009 119
Figure 96: Petrohawk Energy Corporation, Developed Oil Reserves per Well (Mbbl per Well), The US, 20042009 120