Petrohawk Energy Beats EPS Estimates, Top Line Misses (HK)

Tue. August 04, 2009; Posted: 04:35 PM

Aug 04, 2009 (SmarTrend(R) News Watch via COMTEX) -- HK | Quote | Chart | News | PowerRating -- 8/4/2009-Petrohawk Energy (NYSE:HK) reported Q2 EPS of 10 cents, ex-items, topping consensus estimates of 5 cents. Revenues in the quarter fell 25% year-over-year to $227.3 million, and came in short of consensus estimates of $258.2 million. "This quarter, our operations in two prominent U.S. shale plays, the Haynesville and Eagle Ford Shales, made key strides in further establishing productive areas and achieving operational efficiencies. Operational improvements have resulted in lower average costs per well and higher initial production rates which we believe will lead to increased returns on investment," said Floyd C. Wilson, Chairman, President and Chief Executive Officer. "Petrohawk's operating staff has achieved these efficiencies early in the development of these plays with great success. Additionally, we are keeping pace with infrastructure requirements as we continue to work marketing channels to sell gas at the best available prices."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Petrohawk Energy Corp (HK) click here. Petrohawk Energy Corp (HK) has Short Term PowerRatings of 5. Details on Petrohawk Energy Corp (HK) Short Term PowerRatings is available at This Link.

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