Navigating Through the Perfect Storm - Acquistions in the Current Market
Mr. Herod will speak about making acquisitions in the current environment. Having been deeply involved in Petrohawk’s October 2004 acquisition of Wynn-Crosby Energy, Inc., Mr. Herod has a good perspective of the current oil and gas M&A market place. The Wynn-Crosby acquisition includes an estimated 200 billion cubic feet of natural gas equivalents (Bcfe) of proved reserves for a total cash purchase price of $425 million. The properties to be acquired are located in the South Texas, East Texas, Permian, Arkoma and Mid-Continent regions. His comments will include insights about this specific acquisition and the challenges of completing an acquisition that increased the company size by approximately six fold.