UPDATE 2-Petrohawk forecasts sequentially higher Q1 production

lunes 1 de febrero de 2010 17:27 CET

* Sees Q1 production of 615 to 625 mmcfed

* Reaffirms 2010 production outlook

* Reports higher 2009 production

* Shrs up 4 percent (Adds Denbury, Encore production, updates share movement)

Feb 1 (Reuters) - Independent exploration and production company Petrohawk Energy Corp (HK.N: Cotización) forecast sequentially higher first-quarter production and reaffirmed its full-year 2010 production outlook, sending its shares up 4 percent.

The company said it expects first-quarter production of 615 million cubic feet equivalent of natural gas per day (mmcfed) to 625 mmcfed, compared with the fourth-quarter production of 598 mmcfed.

It said full-year 2010 outlook remained at 670 mmcfed to 680 mmcfed.

"During 2010 the Company intends to operate 17 rigs and drill between 110 and 120 operated wells," COO Richard Stoneburner said in a conference call with analysts.

Petrohawk said fourth-quarter production was above the mid point of its previous outlook, helped by increased drilling activity.   Continuación...