Kinder Morgan To Buy Half Petrohawk Unit For $875M

Law360, New York (April 13, 2010, 1:54 PM EDT) -- In yet another major sale for Petrohawk Energy Corp., the Houston-based oil and natural gas developer has reached a deal to sell a 50 percent stake in its Haynesville Shale natural gas gathering and treating business to Kinder Morgan Energy Partners LP for $875 million in cash.

The transaction will create the largest natural gas gathering and treating business in the Haynesville Shale, a rock formation underlying northwest Louisiana believed to have a large supply of natural gas, the companies said. Kinder Morgan said the assets...
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