ExxonMobil's purchase of natural gas assets in the Fayetteville Shale from Petrohawk Energy presents no antitrust issues, the US government said Tuesday.
In an early termination notice under the Hart-Scott-Rodino Antitrust Improvements Act, the Federal Trade Commission said neither it nor the Department of Justice's Antitrust Division plan to take enforcement action against the deal.
Petrohawk last week said it had agreed to sell its gas assets in Cleburne and Van Buren counties in Arkansas to ExxonMobil's XTO Energy subsidiary for $575 million. Current production from the assets is about 98,000 Mcf of natural gas equivalent per day, the company said.
Petrohawk also agreed to sell its midstream assets in the Fayetteville Shale to XTO for $75 million. That portion of the deal is expected to close in early 2011.
--Jeff Barber
In an early termination notice under the Hart-Scott-Rodino Antitrust Improvements Act, the Federal Trade Commission said neither it nor the Department of Justice's Antitrust Division plan to take enforcement action against the deal.
Petrohawk last week said it had agreed to sell its gas assets in Cleburne and Van Buren counties in Arkansas to ExxonMobil's XTO Energy subsidiary for $575 million. Current production from the assets is about 98,000 Mcf of natural gas equivalent per day, the company said.
Petrohawk also agreed to sell its midstream assets in the Fayetteville Shale to XTO for $75 million. That portion of the deal is expected to close in early 2011.
--Jeff Barber
