EXHIBIT 10.1
Second Amendment
to
Amended and Restated
Senior Revolving Credit Agreement
among
Petrohawk Energy Corporation,
as the Borrower,
BNP Paribas,
as Administrative Agent,
Bank of America, N.A. and
Harris Nesbitt Financing, Inc.,
as Syndication Agents,
JPMorgan Chase Bank, N.A. and
Wells Fargo Bank, N.A.,
as Co-Documentation Agents,
and
The Lenders Party Hereto
Effective as of January 27, 2006

 

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Second Amendment to
Amended and Restated Senior Revolving Credit Agreement
     This Second Amendment to Amended and Restated Senior Revolving Credit
Agreement (this “Second Amendment”) executed effective as of the 27th of
January, 2006 (the “Second Amendment Effective Date”) is among Petrohawk Energy
Corporation, a corporation duly formed and existing under the laws of the State
of Delaware (the “Borrower”); each of the Guarantors signatory hereto (the
“Guarantors”); each of the Lenders from time to time party hereto; BNP Paribas
(in its individual capacity, “BNP Paribas”), as administrative agent for the
Lenders (in such capacity, together with its successors in such capacity, the
“Administrative Agent”); Bank of America, N.A. and Harris Nesbitt Financing,
Inc., each as syndication agent for the Lenders (each in such capacity, together
with its successors in such capacity, the “Syndication Agents”); and JPMorgan
Chase Bank, N.A. and Wells Fargo Bank, N.A. as co-documentation agents for the
Lenders (each in such capacity, together with its successors in such capacity,
the “Co-Documentation Agents”).
Recitals
     A. The Borrower, the Administrative Agent, the other Agents and Lenders
named and defined therein as lenders and agents, are parties to that certain
Amended and Restated Senior Revolving Credit Agreement dated as of July 28,
2005, pursuant to which such lenders and agents provided certain loans and
extensions of credit to the Borrower (such agreement, as amended by that certain
First Amendment to Amended and Restated Senior Revolving Credit Agreement dated
as of November 16, 2005 and as renewed, extended, amended or restated from time
to time, the “Credit Agreement”).
     B. The Administrative Agent has requested, and the Borrower, the
Administrative Agent, the Syndication Agents, the Co-Documentation Agents and
Lenders have agreed to amend certain provisions of the Credit Agreement.
     C. NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein contained, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
     Section 1. Defined Terms. Each capitalized term which is defined in the
Credit Agreement, but which is not defined in this Second Amendment, shall have
the meaning ascribed such term in the Credit Agreement. Unless otherwise
indicated, all section references in this Second Amendment refer to sections in
the Credit Agreement.
     Section 2. Amendments to Credit Agreement.
     2.1 Certain Defined Terms. Section 1.02 is hereby amended by amending or
adding the following defined terms:

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     (a) Applicable Margin. The definition of “Applicable Margin” is hereby
amended and restated to read in its entirety as follows:
     “ ‘Applicable Margin’ means, for any day, with respect to any ABR Loan or
Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be,
the rate per annum set forth in the Borrowing Base Utilization Grid below based
upon the Borrowing Base Utilization Percentage then in effect:
Borrowing Base Utilization Grid

                                 
Borrowing Base
    <50 %     ³50 %     ³75 %     ³90 %
Utilization
            < 75 %     <90 %        
Percentage
                               
LIBOR Margin
    1.250 %     1.500 %     1.750 %     2.000 %
ABR Margin
    0.000 %     0.000 %     0.250 %     0.500 %
Commitment Fee Rate
    0.250 %     0.375 %     0.375 %     0.500 %

     provided that if prior to March 31, 2006, the Borrower issues shares of its
common Equity Interests sufficient to generate Net Cash Proceeds of $100,000,000
or more, then “Applicable Margin” shall mean, for any day occurring after such
issuance, with respect to any ABR Loan or Eurodollar Loan, or with respect to
the Commitment Fee Rate, as the case may be, the rate per annum set forth in the
Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization
Percentage then in effect:
Borrowing Base Utilization Grid

                                 
Borrowing Base
    <50 %     ³50 %     ³75 %     ³90 %
Utilization
            < 75 %     <90 %        
Percentage
                               
LIBOR Margin
    1.000 %     1.250 %     1.500 %     1.750 %
ABR Margin
    0.000 %     0.000 %     0.000 %     0.250 %
Commitment Fee Rate
    0.250 %     0.375 %     0.375 %     0.375 %

     Each change in the Applicable Margin shall apply during the period
commencing on the effective date of such change and ending on the date
immediately preceding the effective date of the next such change, provided,
however, that if at any time the Borrower fails to deliver a Reserve Report
pursuant to Section 8.12(a), then the “Applicable Margin” means the rate per
annum set forth on the grid when the Borrowing Base Utilization Percentage is at
its highest level.
     (b) Asset Purchase Agreement. The definition of “Asset Purchase Agreement”
is hereby added where alphabetically appropriate, which definition reads in its
entirety as follows:
“ ‘Asset Purchase Agreement’ means that certain Asset Purchase Agreement dated
as of December 14, 2005 among Redley Company, Burris Run Company,

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Red Clay Minerals, as sellers, and the Borrower, as purchaser as amended by that
certain First Amendment to Asset Purchase Agreement dated as of December 14,
2005 among Redley Company, Burris Run Company, Red Clay Minerals, as sellers,
and Borrower, as purchaser.”
     (c) Acquisition Properties. The definition of “Acquisition Properties” is
hereby added where alphabetically appropriate, which definition reads in its
entirety as follows:
“ ‘Acquisition Properties’ means the Oil and Gas Properties acquired by the
Borrower or its Subsidiaries pursuant to the Asset Purchase Agreement.”
     (d) Second Amendment. The definitions of “Second Amendment” and “Second
Amendment Effective Date” are hereby added where alphabetically appropriate,
which definitions read in their entirety as follows:
“ ‘Second Amendment’ means that certain Second Amendment to Amended and Restated
Senior Revolving Credit Agreement dated as of January 27, 2006 among the
Borrower, the Guarantors, the Agents and the Lenders.
‘Second Amendment Effective Date’ means the date on which the conditions
specified in Section 4 of the Second Amendment are satisfied (or waived in
accordance with Section 12.02).”
     (e) Guarantors. The definition of “Guarantors” is hereby amended and
restated in its entirety to read as follows:
“ ‘Guarantors’ means, collectively:
     (a) as of the Effective Date, each of the following:

  •   Petrohawk Operating Company, a Texas corporation;     •   P-H Energy, LLC,
a Texas limited liability company;     •   Petrohawk Holdings, LLC, a Delaware
limited liability company;     •   Red River Field Services, L.L.C., an Oklahoma
limited liability company;     •   Petrohawk Properties, LP, a Texas limited
partnership;     •   Winwell Resources, Inc., a Louisiana corporation;     •  
WSF, Inc., a Louisiana corporation; and

(b) each other Material Domestic Subsidiary or other Domestic Subsidiary that
guarantees the Indebtedness pursuant to Section 8.14(b).”

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     (f) Gulf of Mexico Properties. The definition of “Gulf of Mexico” is hereby
added where alphabetically appropriate, which definition reads in its entirety
as follows:
     “ ‘Gulf of Mexico Properties’ means those Oil and Gas Properties of the
Borrower and its Restricted Subsidiaries located on the Outer Continental Shelf
of the Gulf of Mexico or in the state waters of any state adjacent to the Outer
Continental Shelf.
     (g) `Second Lien Term Loan Agreement. The definition of “Second Lien Term
Loan Agreement” is hereby amended and restated in its entirety to read as
follows:
“ ‘Second Lien Term Loan Agreement’ means that certain Amended and Restated
Second Lien Term Loan Credit Agreement as amended and restated on the Effective
Date and subsequently amended by that certain First Amendment to Amended and
Restated Second Lien Term Loan Agreement and that certain Second Amendment to
Amended and Restated Second Lien Term Loan Agreement, among the Borrower, BNP
Paribas, as the Second Lien Administrative Agent, and the lenders party thereto,
and any “Loan Documents” (as defined therein) executed in connection therewith,
in each case, as hereafter amended or supplemented pursuant to Section 9.04(b).”
     (h) Stock Purchase Agreement. The definition of “Stock Purchase Agreement”
is hereby added where alphabetically appropriate, which definition reads in its
entirety as follows:
“ ‘Stock Purchase Agreement’ means that certain Stock Purchase Agreement dated
as of December 14, 2005 among Winwell, the shareholders of Winwell and the
Borrower.”
     (i) Winwell. The definition of “Winwell” is hereby added where
alphabetically appropriate, which definition reads in its entirety as follows:
“ ‘Winwell’ means Winwell Resources, Inc., a Louisiana corporation.”
     (j) Winwell Acquisition. The definition of “Winwell Acquisition” is hereby
added where alphabetically appropriate, which definition reads in its entirety
as follows:
“ ‘Winwell Acquisition’ means the transaction whereby the Borrower will purchase
all of the issued and outstanding capital stock of Winwell pursuant to the Stock
Purchase Agreement.”
     (k) Winwell Properties. The definition of “Winwell Properties” is hereby
added where alphabetically appropriate, which definition reads in its entirety
as follows:
“ ‘Winwell Properties’ means the Oil and Gas Properties acquired by the Borrower
or its Subsidiaries as a result of the Winwell Acquisition.”

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     2.2 Amendment to Section 2.07(a). Section 2.07(a) is hereby amended and
restated in its entirety as follows:
     “(a) Initial Borrowing Base. For the period from and including the Second
Amendment Effective Date to but excluding the first Redetermination Date
thereafter, the amount of the Borrowing Base shall be $400,000,000.
Notwithstanding the foregoing, (i) if all or substantially all of the Gulf of
Mexico Properties are sold prior to the first redetermination occurring after
the Second Amendment Effective Date, the then effective Borrowing Base will be
automatically reduced by $15,000,000 and (ii) the Borrowing Base may be subject
to further adjustments from time to time pursuant to Section 2.07(e),
Section 8.13(c) and Section 9.13.”
     2.3 Amendment of Section 2.07(e). Section 2.07(e) is hereby amended and
restated in its entirety as follows:
     “(e) Automatic Reduction of Borrowing Base. If the Borrower shall incur
Debt under the Second Lien Term Loan Agreement in excess of $225,000,000,
subject to the limitation set forth in Section 9.02(h)(ii), the Borrowing Base
shall be reduced (rounded downward to the nearest $1,000) by an amount equal to
$0.2666666 for every incremental dollar of such Debt incurred (i.e., for the
avoidance of doubt, if the Borrower incurred an incremental $75,000,000 of Debt
under the Second Lien Term Loan Agreement, the Borrowing Base would be
$380,000,000).
     2.4 Amendment Section 7.22. Section 7.22 is hereby amended and restated in
its entirety as follows:
     “Section 7.22 Use of Loans and Letters of Credit. The proceeds of the Loans
and the Letters of Credit shall be used to provide working capital for
exploration and production operations, to provide funding in connection with the
acquisition of additional Oil and Gas Properties, subject to Section 9.05, to
provide funding in connection with the acquisition of Equity Interests in
Persons owning Oil and Gas Properties and for general corporate purposes,
including the issuance of letters of credit. The Borrower and its Subsidiaries
are not engaged principally, or as one of its or their important activities, in
the business of extending credit for the purpose, whether immediate, incidental
or ultimate, of buying or carrying margin stock (within the meaning of
Regulation T, U or X of the Board). No part of the proceeds of any Loan or
Letter of Credit will be used for any purpose which violates the provisions of
Regulations T, U or X of the Board.”
     2.5 Amendment to Section 9.02(h). Section 9.02(h) is hereby amended and
restated in its entirety as follows:
     “(h) Debt (i) under the Senior Unsecured Notes, and any guarantees thereof,
the principal amount of which does not exceed $125,000,000 in the aggregate and
any Permitted Refinancing Debt in respect thereof and (ii) under the Second Lien
Term Loan Agreement and any guarantees thereof, the principal amount of which
Debt under clause (ii) of this Section 9.02(h) does not exceed $300,000,000 in
the aggregate; provided that the Borrower may incur

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Debt under the Second Lien Term Loan Agreement in excess of $225,000,000 if:
(1) the Borrower shall provide the Administrative Agent not less than thirty
(30) days prior written notice and (2) the Borrowing Base then in effect shall
be reduced pursuant to Section 2.07(e).”
     2.6 Amendment to Section 9.04(a). Section 9.04(a) is hereby amended to
delete the word “and” before clause (vi) and to delete the “.” at the end of
clause (vi) and insert in lieu thereof the following:
          “and (vii) the Borrower may acquire up to 3,322,441 shares of its
common stock from EnCap Investments, L.P. and its Affiliates with the Net Cash
Proceeds of the substantially concurrent sale of shares of its common Equity
Interests, provided that the aggregate consideration paid for all acquisitions
under this clause (vii) shall not exceed an amount equal to such Net Cash
Proceeds less $100,000,000.”
     2.7 Amendment to Section 9.13. Section 9.13 is hereby amended (i) by
inserting the words “other than the Gulf of Mexico Properties” after the phrase
“Oil and Gas Property” in clause (iii) of Section 9.13(e).
     2.8 Amendment to Annex I/Exiting Lender. Annex I is hereby amended and
restated in its entirety as set forth in the attached Annex I-A. Each Lenders
hereby approves Maximum Credit Amount set forth opposite its name on Annex I-A
and its resulting Commitment. Macquarie Bank Limited is signing this Second
Amendment solely for the purpose of exiting the Credit Agreement and
acknowledging that its Maximum Credit Amount and Commitment have been reduced to
zero. On the Second Amendment Effective Date, Macquarie Bank Limited will cease
to be a Lender under the Credit Agreement and its Revolving Credit Exposure
shall be repaid (at a price equal to par, together with all accrued and unpaid
interest and fees) from the proceeds of the Loans to be advanced on such date.
     2.9 Amendment to Exhibit F-1. Exhibit F-1 is hereby amended to add as
Security Instruments the documents set forth in the attached exhibit.
     2.10 Amendment to Schedule 7.15. Schedule 7.15 is hereby amended and
restated in its entirety as set forth in the attached schedule.
     2.11 Addition of Syndication Agent. Each of the Lenders and the Issuing
Bank hereby irrevocably appoint Harris Nesbitt Financing, Inc. as a Syndication
Agent. In such capacity, Harris Nesbitt Financing, Inc. shall be entitled to all
of the rights and benefits of Article XI of the Agreement as an “Agent”,
including without limitation Section 11.10.
     Section 3. Waivers and Consents; Special Representations and Covenants.
     3.1 Winwell Acquisition. The Borrower has informed the Administrative Agent
and the Lenders of the Borrower’s intent to acquire Winwell pursuant to the
Stock Purchase Agreement. The Borrower has further informed the Administrative
Agent and the Lenders that the Winwell Acquisition will violate Section 9.05.
The Borrower has requested that the Lenders waive, and the Lenders do hereby
waive, the prohibition contained in Section 9.05 that the Borrower not, and will
not permit any Restricted Subsidiary to, make or permit to remain

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outstanding any Investments in or to any Person. Except as expressly waived
herein, all covenants, obligations and agreements of the Borrower and the
Guarantors contained in the Credit Agreement and the other Loan Documents shall
remain in full force and effect in accordance with their terms.
     3.2 Second Lien Term Loan Agreement. The Lenders do hereby consent,
pursuant to Section 1.12 of Annex II of the Second Lien Term Loan Agreement, the
amendments to Annex II of the Second Lien Term Loan Agreement as set forth in
the Second Amendment to the Second Lien Term Loan Agreement, dated of even date
herewith, among the Borrower, the Administrative Agent, and each of the Lenders
from time to time party thereto.
     3.3 Asset Purchase Agreement and Stock Purchase Agreement.
     (a) The copies of the Asset Purchase Agreement and the Stock Purchase
Agreement delivered by the Borrower to the Administrative Agent are true,
accurate and complete and have not been amended or modified in any manner, other
than pursuant to amendments or modifications previously delivered to the
Administrative Agent. No party to any such document is in default in respect of
any material term or obligation thereunder.
     (b) In the event that after the Effective Date: any matter being disputed
in accordance with the terms of the Asset Purchase Agreement or the Stock
Purchase Agreement is resolved, the purchase price is adjusted by an amount
greater than $750,000 or the Borrower and the seller(s) calculate and agree upon
the “final adjustment statement” or “closing adjustment statement” as
contemplated thereby, then, in each such case, the Borrower shall promptly give
the Administrative Agent notice in reasonable detail of such circumstances.
     (c) The Borrower will not, and will not permit any of its Subsidiaries to,
amend, modify or supplement either the Asset Purchase Agreement or the Stock
Purchase Agreement if the effect thereof could reasonably be expected to have a
Material Adverse Effect (and provided that the Borrower promptly furnishes to
the Administrative Agent a copy of such amendment, modification or supplement).
     Section 4. Conditions Precedent. The effectiveness of this Second Amendment
is subject to the receipt by the Administrative Agent of the following documents
and satisfaction of the other conditions provided in this Section 4, each of
which shall be reasonably satisfactory to the Administrative Agent in form and
substance:
     4.1 The Administrative Agent, the Arranger and the Lenders shall have
received all fees and other amounts due and payable on or prior to the Second
Amendment Effective Date, including, to the extent invoiced, reimbursement or
payment of all out-of-pocket expenses required to be reimbursed or paid by the
Borrower hereunder.
     4.2 The Administrative Agent shall have received multiple counterparts of
this Second Amendment as requested from each Lender and the Borrower.

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     4.3 The Administrative Agent shall have received a certificate of the
Secretary or an Assistant Secretary of the Borrower and each Guarantor setting
forth (i) resolutions of its board of directors or other authorized body with
respect to the authorization of the Borrower or such Guarantor to execute and
deliver the Loan Documents to which it is a party, to enter into the
transactions contemplated in those documents and to effectuate any corporate
restructuring, (ii) the officers of the Borrower or such Guarantor (y) who are
authorized to sign the Loan Documents to which the Borrower or such Guarantor is
a party and (z) who will, until replaced by another officer or officers duly
authorized for that purpose, act as its representative for the purposes of
signing documents and giving notices and other communications in connection with
this Second Amendment, the Loan Documents to which it is a party and the
transactions contemplated hereby, (iii) specimen signatures of such authorized
officers, and (iv) that, if delivered in connection with the Credit Agreement,
that there have been no changes to the articles or certificate of incorporation
and bylaws (or other organizational documents) of the Borrower and such
Guarantor since such date, or if not delivered, such documents, certified as
being true and complete. The Administrative Agent and the Lenders may
conclusively rely on such certificate until the Administrative Agent receives
notice in writing from the Borrower to the contrary.
     4.4 The Administrative Agent shall have received certificates of the
appropriate State agencies with respect to the existence, qualification and good
standing of the Borrower and each Guarantor.
     4.5 The Administrative Agent shall have received a compliance certificate
which shall be substantially in the form of Exhibit D of the Credit Agreement,
duly and properly executed by a Responsible Officer and dated as of the date of
the Second Amendment Effective Date.
     4.6 The Administrative Agent shall have received a certificate of a
Responsible Officer of the Borrower certifying that the Borrower shall be
contemporaneously closing an amendment to the Second Lien Term Loan Agreement
and borrowing incremental Debt thereunder with gross proceeds of not less than
$75,000,000. The structure, terms, conditions and documentation, including
execution and delivery of appropriate inter-creditor and/or subordination
documentation for each of the foregoing shall be reasonably satisfactory to the
Administrative Agent.
     4.7 The Administrative Agent shall have received duly executed Notes
payable to the order of each Lender in an amount equal to its Maximum Credit
Amount after giving effect of this Second Amendment.
     4.8 The Administrative Agent shall be reasonably satisfied that the
Security Instruments, including Mortgages, Assumptions and Supplements to the
Guaranty Agreement and the other Security Instruments described in Exhibit F-1
create perfected first priority Liens (subject only to Excepted Liens identified
in clauses (a) to (d) and (f) of the definition thereof, but subject to the
provisos at the end of such definition) on at least 80% of the total value of
the Oil and Gas Properties evaluated in the most recent Reserve Reports
delivered to the Lenders

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under Section 8.12 and the Reserve Reports delivered to the Lenders pertaining
to the Acquisition Properties and the Winwell Properties.
     4.9 The Administrative Agent shall have received title information as they
may reasonably require setting forth the status of title to at least 80% of the
total value of the Acquisition Properties and the Winwell Properties, including
copies of the releases of any Liens of the sellers on the Acquisition Properties
and the Winwell Properties and UCC and other Lien searches related to the
sellers and the Acquisition Properties and the Winwell Properties.
     4.10 The Administrative Agent shall have received certificates, together
with undated, blank stock powers for each such certificate, representing all of
the issued and outstanding Equity Interests of each of Winwell and WSF, Inc.
     4.11 The Administrative Agent shall be reasonably satisfied with the
environmental condition of the Acquisition Properties and the Winwell
Properties.
     4.12 The Administrative Agent shall have received a certificate of a
Responsible Officer of the Borrower certifying that the Borrower has received
all consents and approvals necessary to consummate the transactions contemplated
hereby, including a consent of the lenders under the Second Lien Term Loan
Agreement to increase the Maximum Credit Amounts to $600,000,000, and
contemplated by the Asset Purchase Agreement and the Winwell Acquisition.
     4.13 The Administrative Agent shall have received audited Consolidated
Financial Statements of Winwell Resources, Inc. for the Years Ended June 30,
2005 and 2004.
     4.14 The Administrative Agent shall have received a certificate of a
Responsible Officer of the Borrower certifying that: (i) the Borrower is
concurrently consummating the Winwell Acquisition in accordance with the terms
of the Stock Purchase Agreement (with all of the material conditions thereto
having been satisfied in all material respects by the parties thereto), (ii) the
Borrower is concurrently consummating the Asset Purchase Agreement in accordance
with its terms (with all of the material conditions thereto having been
satisfied in all material respects by the parties thereto), and (iii) that
attached thereto is a schedule setting forth the final purchase price for the
Properties subject thereof after giving effect to all adjustments as of the
closing date contemplated by therein and specifying, by category, the amount of
such adjustment.
     4.15 The Administrative Agent shall have received a copy, certified by a
Responsible Officer as true and complete, of (i) the Stock Purchase Agreement
and (ii) Asset Purchase Agreement (both of which, together with all amendments,
if any), the terms and conditions of which shall be reasonably acceptable to the
Administrative Agent.
     4.16 The Administrative Agent shall have received an opinion of (i) Hinkle
Elkouri Law Firm L.L.C., special counsel to the Borrower, substantially in the
form of Exhibit E-1 to the Credit Agreement, and (ii) local counsel in each of
the following states: Texas, Oklahoma, New

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Mexico and Louisiana, and any other jurisdictions requested by the
Administrative Agent, substantially in the form of Exhibit E-2 to the Credit
Agreement.
     4.17 The Administrative Agent shall have received such other documents as
the Administrative Agent or its special counsel may reasonably require.
     4.18 No Default or Event of Default shall have occurred and be continuing
as of the Second Amendment Effective Date.
     The Administrative Agent is hereby authorized and directed to declare this
Second Amendment to be effective when it has received documents confirming or
certifying, to the satisfaction of the Administrative Agent, compliance with the
conditions set forth in this Section 4 or the waiver of such conditions as
permitted hereby. Such declaration shall be final, conclusive and binding upon
all parties to the Credit Agreement for all purposes.
     Section 5. Representations and Warranties; Etc. The Borrower and each
Guarantor hereby affirms: (a) that as of the date of execution and delivery of
this Second Amendment, and after giving effect to the transactions contemplated
hereby and by the Asset Purchase Agreement and the Stock Purchase Agreement, all
of the representations and warranties contained in each Loan Document to which
it is a party are true and correct in all material respects (unless made as of a
specific earlier date, in which case, was true as of such date); and (b) that
after giving effect to this Second Amendment and to the transactions
contemplated hereby, including the transactions contemplated by the Asset
Purchase Agreement and the Stock Purchase Agreement, no Defaults exist under the
Loan Documents or will exist under the Loan Documents.
     Section 6. Miscellaneous.
     6.1 Confirmation. The provisions of the Credit Agreement (as amended by
this Second Amendment) shall remain in full force and effect in accordance with
its terms following the effectiveness of this Second Amendment.
     6.2 Ratification and Affirmation of Borrower and Guarantors. The Borrower
and Guarantors hereby expressly (i) acknowledge the terms of this Second
Amendment, (ii) ratify and affirm their obligations under the Loan Documents to
which they are a party, (iii) acknowledge, renew and extend their continued
liabilities under the Guarantee Agreement and the other Security Instruments to
which they are a party and agree that their guarantee under the Guarantee
Agreement and the other Security Instruments to which they are a party remains
in full force and effect with respect to the Indebtedness as amended hereby.
     6.3 Counterparts. This Second Amendment may be executed by one or more of
the parties hereto in any number of separate counterparts, and all of such
counterparts taken together shall be deemed to constitute one and the same
instrument.
     6.4 No Oral Agreement. This written Second Amendment, the Credit Agreement
and the other Loan Documents executed in connection herewith and therewith
represent the final agreement between the parties and may not be

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contradicted by evidence of prior, contemporaneous, or unwritten oral agreements
of the parties. There are no subsequent oral agreements between the parties.
     6.5 Governing Law. This Second Amendment (including, but not limited to,
the validity and enforceability hereof) shall be governed by, and construed in
accordance with, the laws of the State of Texas.

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     IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to
be duly executed effective as of the date first written above.

                  BORROWER:   PETROHAWK ENERGY CORPORATION    
 
               
 
  By:       /s/ Floyd C. Wilson                  
 
          Floyd C. Wilson    
 
          President and Chief Executive Officer    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
Signature Page — 1

 

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                  GUARANTORS:   PETROHAWK OPERATING COMPANY    
 
                    P-H ENERGY, LLC    
 
          By: PETROHAWK ENERGY CORPORATION    
 
          Its Sole Member    
 
                    RED RIVER FIELD SERVICES, L.L.C.    
 
          By: PETROHAWK ENERGY CORPORATION    
 
          Its Sole Member    
 
                    PETROHAWK PROPERTIES, LP    
 
          By: P-H ENERGY, LLC    
 
          Its General Partner    
 
                    WINWELL RESOURCES, INC.    
 
                    WSF, INC.    
 
               
 
  By:       /s/ Floyd C. Wilson                  
 
          Floyd C. Wilson    
 
          President and Chief Executive Officer    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
Signature Page — 2

 

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                      PETROHAWK HOLDINGS, LLC    
 
               
 
  By:       /s/ Connie D. Tatum                  
 
          Connie D. Tatum    
 
          President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  ADMINISTRATIVE AGENT:   BNP PARIBAS,         as Administrative
Agent    
 
                    By:   /s/ Greg Smothers                       Name:   Greg
Smothers         Title:   Vice President    
 
                    By:   /s/ Polly Schott                       Name:   Polly
Schott         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  SYNDICATION AGENT:   BANK OF AMERICA, N.A., as Syndication    
    Agent    
 
                    By:   /s/ Gregory B. Hanson                       Name:  
Gregory B. Hanson         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  SYNDICATION AGENT:   HARRIS NESBITT FINANCING, INC., as      
  Syndication Agent    
 
                    By:   /s/ James V. Ducote                       Name:  
James V. Ducote         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  CO-DOCUMENTATION AGENT:   JPMORGAN CHASE BANK, N.A., as      
  Co-Documentation Agent    
 
                    By:   /s/ Elizabeth Pavlas                       Name:  
Elizabeth Pavlas         Title:   Assistant Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  CO-DOCUMENTATION AGENT:   WELLS FARGO BANK, N.A., as        
Co-Documentation Agent    
 
                    By:   /s/ Jeff Dalton                       Name:   Jeff
Dalton         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   BNP PARIBAS    
 
                    By:   /s/ Greg Smothers                       Name:   Greg
Smothers         Title:   Vice President    
 
                    By:   /s/ Polly Schott                       Name:   Polly
Schott         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   BANK OF AMERICA, N.A.    
 
                    By:   /s/ Gregory B. Hanson                       Name:  
Gregory B. Hanson         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   HARRIS NESBITT FINANCING, INC.    
 
                    By:   /s/ James V. Ducote                       Name:  
James V. Ducote         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   JPMORGAN CHASE BANK, N.A.    
 
                    By:   /s/ Elizabeth Pavlas                       Name:  
Elizabeth Pavlas         Title:   Assistant Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   WELLS FARGO BANK, N.A.    
 
                    By:   /s/ Jeff Dalton                       Name:   Jeff
Dalton         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   FORTIS CAPITAL CORP.    
 
                    By:   /s/ Deirdre Sanborn                       Name:  
Deirdre Sanborn         Title:   Senior Vice President    
 
                    By:   /s/ Darrell Holley                       Name:  
Darrell Holley         Title:   Managing Director    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   SUNTRUST BANK    
 
                    By:   /s/ Sean M. Roche                       Name:   Sean
M. Roche         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   ALLIED IRISH BANKS P.L.C.    
 
                    By:   /s/ Mark Connelly                       Name:   Mark
Connelly         Title:   Vice President    
 
                    By:   /s/ Aidan J. Lanigan                       Name:  
Aidan J. Lanigan         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   COMERICA BANK    
 
                    By:   /s/ Huma Vadgama                       Name:   Huma
Vadgama         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   KEYBANK, NATIONAL ASSOCIATION    
 
                    By:   /s/ Thomas Rajan                       Name:   Thomas
Rajan         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   U.S. BANK NATIONAL ASSOCIATION    
 
                    By:   /s/ Kathryn A. Gaiter                       Name:  
Kathryn A. Gaiter         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   AMEGY BANK NATIONAL ASSOCIATION    
 
                    By:   /s/ Tracy T. Butz                       Name:   Tracy
T. Butz         Title:   Vice President, Energy Lending    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   BANK OF TEXAS, N.A.    
 
                    By:   /s/ Mari Salazar                       Name:   Mari
Salazar         Title:   Assistant Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   COMPASS BANK    
 
                    By:   /s/ Murray E. Brasseux                       Name:  
Murray E. Brasseux         Title:   Executive Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   DEUTSCHE BANK TRUST COMPANY AMERICAS    
 
                    By:   /s/ Omayra Laucella                       Name:  
Omayra Laucella         Title:   Vice President    
 
                    By:   /s/ Lana Gifas                       Name:   Lana
Gifas         Title:   Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  LENDERS:   STERLING BANK    
 
                    By:   /s/ Jeff A. Forbis                       Name:   Jeff
A. Forbis         Title:   Senior Vice President    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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                  EXITING LENDER:   MACQUARIE BANK LIMITED    
 
                    By:   /s/ Thomas Wegenhofer                       Name:  
Thomas Wegenhofer         Title:   Associate Director    
 
                    By:   /s/ Thomas Callinas                       Name:  
Thomas Callinas         Title:   Attorney    

Second Amendment – Amended and Restated Senior Revolving Credit Agreement
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ANNEX I-A
LIST OF MAXIMUM CREDIT AMOUNTS
Aggregate Maximum Credit Amounts

                  Name of Lender   Applicable Percentage     Maximum Credit
Amount  
BNP Paribas
    10.00 %   $ 60,000,000.00  
Bank of America, N.A.
    8.00 %   $ 48,000,000.00  
Harris Nesbitt Financing, Inc.
    8.00 %   $ 48,000,000.00  
JPMorgan Chase Bank, N.A.
    8.00 %   $ 48,000,000.00  
Wells Fargo Bank, N.A.
    8.00 %   $ 48,000,000.00  
Fortis Capital Corp.
    7.50 %   $ 45,000,000.00  
SunTrust Bank
    7.50 %   $ 45,000,000.00  
Allied Irish Banks, p.l.c.
    6.25 %   $ 37,500,000.00  
Comerica Bank
    6.25 %   $ 37,500,000.00  
KeyBank, National Association
    6.25 %   $ 37,500,000.00  
US Bank National Association
    6.25 %   $ 37,500,000.00  
Amegy Bank of Texas, N.A.
    3.75 %   $ 22,500,000.00  
Bank of Texas, N.A.
    3.75 %   $ 22,500,000.00  
Compass Bank
    3.75 %   $ 22,500,000.00  
Deutsche Bank Trust Company Americas
    3.75 %   $ 22,500,000.00  
Sterling Bank
    3.00 %   $ 18,000,000.00  
TOTAL
    100.00 %   $ 600,000,000.00