Petrohawk Energy is riding rising oil prices to higher profits. The BHP Billiton-owned company's activities include the exploration, development, and production of crude oil and natural gas in the Anadarko, Arkoma, East Texas/North Louisiana, Gulf Coast, Permian Basin, and South Texas regions. In 2012 Petrohawk Energy reported estimated proved reserves of about 5.8 trillion cu. ft. of natural gas equivalent. The company is concentrating its efforts on developing key shale plays, including the Haynesville Shale, the Lower Bossier Shale, and the Eagle Ford Shale.