Petrohawk's Production And Spending Continues To Grow

Petrohawk Energy (NYSE: HK) reported 3Q results that led to 4Q guidance estimating 10% sequential growth, according to Dahlman Rose.

In the report, Dahlman Rose writes "Petrohawk reported EPS/CFPS of $0.11/$0.62 vs our estimate of $0.14/$0.67 and consensus of $0.14/$0.60. 3Q10 production averaged 685MMcfepd, 20MMcfepd above the high end of the guidance range of 650-660MMcfepd. Thus 3Q10 production grew 9% sequentially. Moreover, the company guided 4Q10 production to grow another 10% sequentially, and 2011 production to grow 30% to 40% y/y."

Dahlman Rose maintains its Hold rating on Petrohawk, which closed yesterday at $17.20.