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Petrohawk Energy Snapshot
Petrohawk Energy (formerly Beta Oil & Gas) is riding rising oil prices to higher profits. The independent company's activities include the exploration, development, and production of crude oil and natural gas in the Anadarko, Arkoma, East Texas/North Louisiana, Gulf Coast, Permian Basin, and South Texas regions. Petrohawk Energy has estimated proved reserves of about 2.8 trillion cu. ft. of natural gas equivalent. The company is concentrating its efforts on developing key shale plays, including the Haynesville Shale, the Lower Bossier Shale, and the Eagle Ford Shale. In a move to boost its US shale assets, in 2011 BHP Billiton acquired Petrohawk Energy for $12.1 billion.
