October 21, 2014 11:04 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Petrohawk Energy Corporation

Company Overview

Petrohawk Energy Corporation, an oil and natural gas company, engages in the exploration, development, and production of natural gas properties located in the United States. Petrohawk Energy Corporation was formerly known as Beta Oil & Gas, Inc. and changed its name to Petrohawk Energy Corporation in July, 2004. The company was founded in 1997 and is based in Houston, Texas. As of August 25, 2011, Petrohawk Energy Corporation operates as a subsidiary of BHP Billiton Limited.

1000 Louisiana

Suite 5600

Houston, TX 77002

United States

Founded in 1997

Phone:

832-204-2700

Fax:

832-204-2800

Key Executives for Petrohawk Energy Corporation

Founder and Principal Executive Officer
Age: 60
Principal Financial Officer
Executive Vice President of Mid Continent Operations
Age: 61
Senior Vice President of Western Region Operations
Age: 69
Compensation as of Fiscal Year 2014.

Petrohawk Energy Corporation Key Developments

Redemption of Petrohawk Energy Corporation Senior Notes

Petrohawk Energy Corporation has issued a formal notice of redemption to note holders of its 7.25% Senior Notes due 2018 and 6.25% Senior Notes due 2019. All outstanding Senior Notes due 2018 and 2019 will be redeemed on 15 August 2014 at the applicable call prices. The total aggregate principal value of the notes to be redeemed is approximately $1.8 billion.

Petrohawk Energy Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014

Petrohawk Energy Corporation reported earnings results for the third quarter and nine months ended March 31, 2014. Net income for the third quarter ended March 31, 2014 was $60.67 million, compared to $21.01 million for the same quarter ended March 31, 2013. Total operating revenues for the third quarter ended March 31, 2014 were $1.02 billion, compared to $688.90 million for the same quarter ended March 31, 2013. Net loss for the nine months ended March 31, 2014 was $98,000, compared to a net loss of $51.64 million for the same period ended March 31, 2013. Total operating revenues for the nine months ended March 31, 2014 were $2.81 billion, compared to $1.79 billion for the same period ended March 31, 2013.

Petrohawk Energy Corporation Reports Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended March 31, 2014

Petrohawk Energy Corporation reported unaudited consolidated earnings and production results for the third quarter and nine months ended March 31, 2014. For the quarter, the company reported total operating revenues of $1,025,419,000 compared to $688,902,000 a year ago. Income from operations was $202,670,000 compared to $141,049,000 a year ago. Income from continuing operations before income taxes was $96,546,000 compared to $33,872,000 a year ago. Net income was $60,666,000 compared to $21,012,000 a year ago. For the nine months, the company reported total operating revenues of $2,806,716,000 compared to $1,789,760,000 a year ago. Income from operations was $318,751,000 compared to $237,100,000 a year ago. Income from continuing operations before income taxes was $158,000 compared to loss of $87,710,000 a year ago. Net loss was $98,000 compared to $51,645,000 a year ago. Net cash provided by operating activities was $1,123,619,000 compared to $795,481,000 a year ago. Oil and natural gas capital expenditures were $2,709,383,000 compared to $2,657,074,000 a year ago. The increase in revenue was primarily due to the increase in crude oil and natural gas liquids (NGLs) volumes of 92.6% and 52.5%, partially offset by a reduction in natural gas volumes of 12.6%. The change in volumes added $688.8 million in revenue. Price movements positively impacted revenues, with natural gas prices increasing 28.7% or $0.87 to $3.89 per mmcf against $3.02 in the same period in 2013. This was partially offset by crude oil falling 5.7% or $5.58 per barrel to $92.52 against $98.10 in the same period in 2013. NGL prices dropped 7.7% or $2.34 to $27.82 per barrel against $30.16 in the same period in 2013. The change in prices increased revenue by $86.6 million. For the nine months, the company reported production of natural gas of 261,415 Mmcf against 247,686 Mmcf a year ago. Crude oil was 14,871 MBbl against 7,722 MBbl a year ago. Natural gas liquids was 7,936 MBbl against 5,214 MBbl a year ago. Natural gas equivalent was 353,256 Mmcfe against 325,305 Mmcfe a year ago. Average daily production was 1,289 Mmcfe against 1,187 Mmcfe a year ago.

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