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Message
re: Haynesville Shale
Posted on 5/15/08 at 3:19 pm to TigerV
Posted on 5/15/08 at 3:19 pm to TigerV
quote:
Why would Petrohawk leak the news of the discovery thus causing them and every other company to overspend for leases? These prices are going to put the small 2-3 man prospecting shops out of business because they will be unable to compete with the larger companies.
They did it because Floyd Wilson (CEO of Petrohawk) is wanting to sell his company in the near future. By creating this frenzy, Petrohawk is now a more attractive candidate for a buyout. Wilson has been described as a "serial seller", and his last company he built was sold to Chesapeake several years ago.
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