March 2, 2010 (FinancialWire) — Petrohawk Energy Corp (NYSE: HK) said that it has entered into a definitive agreement to sell its interest in the West Edmond Hunton Lime Unit Field in Oklahoma County, Oklahoma to a private company for $155 million.

The sale is the first of four asset packages expected to be sold by the company during 2010, according to Petrohawk.

As of December 31, 2009, Petrohawk said it had estimated proved reserves of 23 billion cubic feet of natural gas equivalent associated with its interests in WEHLU. Current production is around 12 million cubic feet of natural gas equivalent per day.

Closing of the transaction is scheduled to occur on or before April 30, with an effective date of April 1.

Additionally, the company said it has completed a portion of an additional 2010 divestiture package. It said that two transactions involving properties in the Mid-Continent region have been closed for a sale price totaling around $20 million. These include, in total, around 7 Bcfe of estimated proved reserves and around 3 Mmcfe/d of production.

Texas-based Petrohawk Energy Corp. is an independent energy company engaged in the acquisition, production, exploration and development of natural gas and oil with properties concentrated in North Louisiana, Arkansas, South Texas and East Texas.

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