Petrohawk sells permian basin assets for $376m cash.
by Jim Polson.
Sept 21 (bloomberg)
The natural gas producer that announced a southern Texas discovery in October,agreed to sell its permian basin assets for $376m in cash.
Proceeds will improve liquidity to develop holdings in the eagle ford shale in southern texas and the haynesville shale,Houston based Petrohawk said in a statement today.
Petrohawk rose 63c,or 2.7%,to $24.26 in new york stock exchange composite trading.
It all looks good for the fundamentals of the eagle ford shale.
All the best.
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