TITLE

Petrohawk Circles Takeover Prey

AUTHOR(S)
Terzo, Gerelyn
PUB. DATE
December 2005
SOURCE
Investment Dealers' Digest;12/5/2005, Vol. 71 Issue 46, p11
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Floyd Wilson, chief executive officer of Petrohawk Energy Corp., is planning to make an acquisition worth $500 million to make the company attractive for large corporations to acquire it. The company is an independent oil and gas exploration and production outfit. Wilson and his management team own 10 per cent of the publicly traded company. The acquisition target would need to bolster the company's proven natural gas reserve. It will probably be a private company that has long lived gas properties in Eastern Texas. The company is also in the process of streamlining its existing operations. It is trying to offload its oil wells in the Gulf of Mexico. It has already sold 3,000 wells and plans to shed another 2,000 in 2006.
ACCESSION #
19162883

 

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