Petrohawk Energy Corporation was an independent energy company headquartered in
Houston
Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 i ...
,
Texas
Texas (, ; Spanish: ''Texas'', ''Tejas'') is a state in the South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2020, it is the second-largest U.S. state by ...
. 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 (formerly known as BHP Billiton) is an Australian multinational mining, metals, natural gas petroleum public company that is headquartered in Melbourne, Victoria, Australia.
The Broken Hill Proprietary Company was founded ...
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