Petrohawk Energy Corp said it agreed to sell its interest in an Oklahoma asset for $155 million to a private company, marking the first of its four asset-package divestitures planned for this year.
The independent energy company said it estimated proved reserves of 23 billion cubic feet of natural gas equivalent (Bcfe) associated with its interests in the West Edmond Hunton lime (WEHLU) field, as of Dec. 31.
The deal for WEHLU, which currently produces about 12 million cubic feet of natural gas equivalent per day (mmcfe/d), is expected to close by the end of April.
The company also said it closed two deals for about $20 million, related to properties in the Mid-Continent region, representing about 7 Bcfe of estimated proved reserves and approximately 3 mmcfe/d of production.
Shares of the company rose about 2 percent to $21.75 in trading before the bell. They closed at $21.40 Friday on the New York Stock Exchange. (Reporting by Antonita Madonna Devotta in Bangalore; Editing by Aradhana Aravindan)