Petrohawk Energy Corporation was an independent energy company headquartered in
Houston
Houston ( ) is the List of cities in Texas by population, most populous city in the U.S. state of Texas and in the Southern United States. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the county seat, seat of ...
,
Texas
Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the we ...
. Founded in 2003, Petrohawk grew rapidly through mergers and acquisitions. The company was originally known as Beta Oil & Gas until shareholders approved a name change on July 15, 2004.
In November 2004, Petrohawk bought Wynn-Crosby for $425 million, marking its first large acquisition. The Wynn-Crosby/ Petrohawk transaction was named the “2004 M&A Deal of the Year” by ''The Oil and Gas Investor''. In July 2005, Petrohawk merged with Mission Resources, nearly doubling in size. One year later, Petrohawk bought KCS Energy for 80 million shares of stock and approximately $900 million in cash. Beginning in 2007, Petrohawk began acquiring acreage in the
Haynesville Shale
The Haynesville Shale is an informal, popular name for a Jurassic Period rock formation that underlies large parts of southwestern Arkansas, northwest Louisiana, and East Texas. It lies at depths of 10,500 to 13,000 feet below the land’s surfac ...
, and in 2008 successfully began an extensive, $500 million drilling program.
On July 15, 2011,
BHP Billiton
BHP Group Limited, founded as the Broken Hill Proprietary Company, is an Australian multinational mining and metals corporation. BHP was established in August 1885 and is headquartered in Melbourne, Victoria.
As of 2024, BHP was the world ...
acquired Petrohawk for an all-cash offer of $US38.75 per share.
References
{{BHP
Oil companies of the United States
Natural gas companies of the United States
Companies based in Houston
BHP