The assets include over 24,000 net acres with estimated reserve potential of over 500 billion cubic feet equivalent (bcfe), approximately 50% operated. Of the total net acreage acquired, the company estimates that only 11% is classified as proven, with estimated proved reserves of approximately 60bcfe.
The properties are located in the core of the Fayetteville Shale play, primarily in Van Buren and Conway Counties, Arkansas. Petrohawk’s total acreage position in the Fayetteville Shale is now approximately 0.125 million net acres.
