WPL and Petrohawk are entirely different gas plays.
WPL will be selling LNG (and oil) into the Asian export markets at prices that track the rest of the energy complex.
Petrohawk is a shale gas / technology play that will be selling natural gas (and some nat gas liquids) into the US domestic market on a Henry Hub price formula that has totally disconnected from the energy complex as HH is a wash with gas. HH is now less than $3/mmbtu while Asian prices are around $10/mmbtu.
Personally, I believe that BHP would consider them as diverse, individual energy plays that run off different business cycles, and definitely not mutually exclusive.
Choice
WPL and Petrohawk are entirely different gas plays.WPL will be...
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