11/11/2009 Petrohawk Energy And Swift Energy Enter Joint Venture In Eagle Ford Shale
Swift Energy Company (SWY) and Petrohawk Energy Corporation (HK) signed a joint venture agreement to develop 26,000 net acres that Swift Energy has under lease in the Eagle Ford Shale. The acreage is located in McMullen County, Texas.
Petrohawk Energy paid $26 million to Swift Energy, and will fund up to $13 million in capital expenditures on the acreage. Each company will have a 50% interest in the joint venture http://shale.typepad.com/eaglefordshale/2009/11/petrohawk-energy-and-swift-energy-enter-joint-venture-in-eagle-ford-shale.html ............................... If our term assignment JV agreement with Petrohawk is similar,we may get paid approx. $9 million for our 8,558 acres and funding for a few wells.
AZZ Price at posting:
68.0¢ Sentiment: Buy Disclosure: Held
