The acquisition will give BHP Billiton access to operated positions in the three world class resource plays of the Eagle Ford and Haynesville shales, and the Permian Basin. Petrohawk's assets spread across 1,000,000 net acres in Texas and Louisiana, with an estimated 2011 net production of approximately 950 million cu/ft equivalent per day or 158 thousand barrels of oil equivalent per day. The tender offer is expected to begin by 25 July 2011. The agreement is subject to the terms and conditions outlined in the merger agreement, including a condition that at least a majority of the outstanding Petrohawk shares are tendered, that the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired or been terminated and that clearance is obtained from the Committee on Foreign Investment in the United States. The transaction is expected to close during the third quarter of 2011.