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Petrohawk Energy to buy more acreage for $222.5 mln

Tue Jan 8, 2008 9:23am EST

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Jan 8 (Reuters) - Petrohawk Energy Corp (HK.N) said it agreed to acquire additional acreage in Fayetteville Shale Trend from a private seller for $222.5 million.

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The assets include about 18,500 net acres and increases Petrohawk's leasehold in the Fayetteville Shale to about 150,000 net acres, the independent energy company said in a statement.

Petrohawk said it estimates proved reserves to be about 50 billion cubic feet of natural gas equivalent. (Reporting by Supantha Mukherjee in Bangalore)

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