Deals
Exxon Buys Petrohawk’s Arkansas Shale for $650 Million
This article is for subscribers only.
Exxon Mobil Corp., the largest company by market value, agreed to pay $650 million for Petrohawk Energy Corp.’s natural-gas wells and pipelines in the Fayetteville Shale, its second shale purchase this year.
The Arkansas assets produce about 98 million cubic feet of gas a day, Houston-based Petrohawk said today in a statement. The sale of the wells, valued at $575 million, is complete and has an Oct. 1 effective date, according to the statement.