HK finds more Gusher Wells!! HK was $49 in July On huge Gas Gusher find, the finds getting even bigger and HK is at only $18+ now.
December 11, 2008
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HK finds more Gusher Wells!!
HK was $49 in July On huge Gas Gusher find, the finds getting even bigger and HK is at only $18+ now. Another great thing about HK is that drilling costs are only about $7M , The wells pay for themselves in as little as only 2 months.
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Back in July, the biggest well I'd caught word of was a Petrohawk (NYSE: HK) gusher at nearly 17 million cubic feet equivalent (Mmcfe) per day. That's a big gas well, but today's completions really crank it up a notch.
Petrohawk has announced three completions ranging from 21 to 28 Mmcfe per day, for a total of 73 Mmcfe per day. The Houston-based shale hunter didn't divulge its cost to drill and complete these monsters, but if we assume $7 million, which is the higher end of the numbers I've seen, then these wells will pay for themselves quickly -- probably within two months.
http://www.fool.com/investing/general/2008/12/10/this-is-one-ginormous-gas-play.aspx
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