Petrohawk (HK): A Lone Rig Amongst Oil Giants - Dow Jones (XOM, BP, GDP)

Petrohawk Energy Corp. (NYSE: HK), a major player in the Texas oilfield industry, holding some juicy stakes in Haynesville, Fayetteville, and Ealge Ford Shales, a Dow Jones article reported today.

Because of their success, they look like a prime target for takeover by one of the bigger oil companies such as ExxonMobil (NYSE: XOM), Royal Dutch Shell (NASDAQ: RDSA), and BP Plc (NYSE: BP).

However, CEO Floyd Wilson said that, though companies have shown interest, the company is not for sale, nor is it anticipating a sale in the near term.

The brash CEO says that Petrohawk doesn't need to sell any of its assets for money, and it will grow the old-fashioned way: by drilling.

Wilson confirms the companies budget for 2010 of $1.45 billion, up from $1.1 billion in 2009. The company also previously announced the sale of their natural gas gathering segment, Hawk Field Services, which lies in the Haynesville Shale. The company values this asset at between $1.5 billion and $2 billion.

The company is also looking to gather some of the other major drillers in the area to begin an information-sharing effort to improve drilling efficiencies.

Today, Goodrich Petroleum (NYSE: GDP) also agreed to acquire 12,000 net acres in the Haynesville Shale.

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