UPDATE 1-Petrohawk to sell Permian Basin assets for $376 mln

* Says to sell properties to private co

* To focus on Haynesville, Eagle Ford shale assets

Sept 21 (Reuters) - Independent oil and natural gas company Petrohawk Energy Corp (HK.N) said it agreed to sell its Permian basin properties for $376 million to a privately held company.

The proceeds from the sale will be used to increase focus on its "rapidly growing shale assets, particularly high-return, high-margin development" in the Haynesville and Eagle Ford shales, Chief Executive Floyd Wilson said.

As of Dec. 31, 2008, reported estimated proved reserves for the Permian basin assets were 177 billion cubic feet of natural gas equivalent, which are currently producing about 30 million cubic feet equivalent per day, Petrohawk said.

Shares of Petrohawk closed at $23.63 Friday on the New York Stock Exchange.

For alerts, double-click [ID:nWNAB1480] (Reporting by Arup Roychoudhury in Bangalore; Editing by Gopakumar Warrier)