Petrohawk Energy Corp., Houston, (NYSE: HK) has entered into a joint-venture agreement to acquire a 50% interest in Eagle Ford shale acreage in South Texas from Swift Energy Co., Houston, (NYSE: SFY) for $39 million in cash and drilling carries.

Petrohawk paid approximately $26 million in cash and will fund approximately $13 million of Swift Energy’s capex within the first 12 months. If any remains unused at the end of this time, it will be paid to Swift as cash consideration.

The agreement involves jointly developing and operating approximately 26,000 ...