Exhibit 10.1

FIRST AMENDMENT

TO

SECOND 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

BMO CAPITAL MARKETS FINANCING, INC.,

as Co-Syndication Agents,

JPMORGAN CHASE BANK, N.A.,

WELLS FARGO BANK, N.A. and

FORTIS CAPITAL CORP.

as Co-Documentation Agents,

and

THE LENDERS PARTY HERETO

Effective as of July 24, 2006

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FIRST AMENDMENT TO

SECOND AMENDED AND RESTATED SENIOR REVOLVING CREDIT

AGREEMENT

This FIRST AMENDMENT TO SECOND AMENDED AND RESTATED SENIOR REVOLVING CREDIT
AGREEMENT (this “First Amendment”) executed effective as of the 24th day of
July, 2006 (the “First 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 BMO Capital Markets
Financing, Inc., as co-syndication agents for the Lenders (in such capacity,
together with their successors in such capacity, the “Co-Syndication Agents”);
and JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A. and Fortis Capital Corp.
as co-documentation agents for the Lenders (in such capacity, together with
their 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 Second
Amended and Restated Senior Revolving Credit Agreement dated as of July 12,
2006, pursuant to which such lenders and agents provided certain loans and
extensions of credit to the Borrower (the “Credit Agreement”).

B. The Administrative Agent has requested, and the Borrower, the Administrative
Agent, the Co-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 First Amendment, shall have the
meaning ascribed such term in the Credit Agreement. Unless otherwise indicated,
all section references in this First Amendment refer to sections in the Credit
Agreement.

Section 2. Amendments to Credit Agreement.

2.1 Certain Defined Terms. The following defined terms in Section 1.02 are
hereby amended and restated in their entirety as follows:

(a) “2013 Indenture” means that certain Indenture dated as of the Effective Date
among the Borrower, each of the Guarantors as defined therein and U.S. Bank,
N.A., as trustee, as amended by the First Supplemental Indenture, dated as of
Effective Date, as the same may hereafter be amended or supplemented pursuant to
Section 9.04(b).

 

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(b) “2013 Notes” means those certain $775,000,000 9-1/8% Senior Notes due 2013,
issued by the Borrower, as issuer pursuant to the 2013 Indenture.

(c) “Agreement” means this Second Amended and Restated Senior Revolving Credit
Agreement, as amended by the First Amendment, as the same may from time to time
be further amended, modified, supplemented or restated.

2.2 Additional Defined Terms. Section 1.02 is hereby amended by adding the
following defined terms where alphabetically appropriate, which definitions read
in their entirety as follows:

“ ‘First Amendment’ means that certain First Amendment to Second Amended and
Restated Senior Revolving Credit Agreement dated as of the First Amendment
Effective Date among the Borrower, the Guarantors, the Agents and the Lenders.

‘First Amendment Effective Date’ means the date on which the conditions
specified in Section 3 of the First Amendment are satisfied (or waived in
accordance with Section 12.02).”

2.3 Amendment to Section 9.02(j). Section 9.02(j) is hereby amended and restated
in its entirety as follows:

“(j) Debt under the 2013 Notes (and any guarantees thereof by Guarantors)
(i) outstanding on the Effective Date and (ii) issued within 180 days of the
First Amendment Effective Date, provided that, with respect to this
Section 9.02(j)(ii), the aggregate principal amount of such additional notes
shall not be greater than $125,000,000.”

2.4 Amendment to Section 9.04(b)(ii)(B). Section 9.04(b)(ii)(B) is hereby
amended and restated in its entirety as follows:

“(B) the effect of such amendment or supplement is to issue additional notes,
provided that the Borrower may, within 180 days of the First Amendment Effective
Date, issue additional notes pursuant to the 2013 Indenture in an aggregate
principal amount of up to $125,000,000, or”

Section 3. Conditions Precedent. The effectiveness of this First Amendment is
subject to the receipt by the Administrative Agent of the following documents
and satisfaction of the other conditions provided in this Section 3, each of
which shall be reasonably satisfactory to the Administrative Agent in form and
substance:

3.1 The Administrative Agent and the Lenders shall have received all fees and
other amounts due and payable on or prior to the First 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.

 

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3.2 The Administrative Agent shall have received from the Administrative Agent,
the Majority Lenders and each of the Guarantors, counterparts (in such number as
may be requested by the Administrative Agent) of this First Amendment signed on
behalf of such Person.

3.3 No Default or Event of Default shall have occurred and be continuing as of
the First Amendment Effective Date.

3.4 The Administrative Agent shall have received such other documents as the
Administrative Agent or its special counsel may reasonably require.

The Administrative Agent is hereby authorized and directed to declare this First
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 4. Representations and Warranties; Etc. The Borrower and each Guarantor
hereby affirms: (a) that as of the date of execution and delivery of this First
Amendment, and after giving effect to the transactions contemplated hereby, 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 First Amendment and to the transactions contemplated
hereby, no Defaults exist under the Loan Documents or will exist under the Loan
Documents.

Section 5. Miscellaneous.

5.1 Confirmation. The provisions of the Credit Agreement (as amended by this
First Amendment) shall remain in full force and effect in accordance with its
terms following the effectiveness of this First Amendment.

5.2 Ratification and Affirmation of Borrower and Guarantors. The Borrower and
Guarantors hereby expressly (a) acknowledge the terms of this First Amendment,
(b) ratify and affirm their obligations under the Loan Documents to which they
are a party, (c) 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.

5.3 Counterparts. This First 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.

5.4 No Oral Agreement. THIS WRITTEN FIRST 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 CONTRADICTED BY EVIDENCE
OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE
ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.

 

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5.5 Governing Law. THIS FIRST 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 First Amendment to be
duly executed effective as of the date first written above.

 

BORROWER:    PETROHAWK ENERGY CORPORATION    By:  

/s/ Floyd C. Wilson

   Name:   Floyd C. Wilson    Title:   President and Chief Executive Officer

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 5

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GUARANTORS:    PETROHAWK OPERATING COMPANY    P-H ENERGY, LLC    RED RIVER FIELD
SERVICES, L.L.C.    PETROHAWK PROPERTIES, LP                By:    P-H Energy,
L.L.C.                          Its General Partner    WINWELL RESOURCES, INC.
   WSF, INC.    KSC RESOURCES, INC.    KCS ENERGY SERVICES, INC.    MEDALLION
CALIFORNIA PROPERTIES COMPANY    PROLIQ, INC.    By:  

/s/ Floyd C. Wilson

   Name:   Floyd C. Wilson    Title:   President and Chief Executive Officer

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 6

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PETROHAWK HOLDINGS, LLC By:  

/s/ Connie D. Tatum

Name:   Connie D. Tatum Title:   President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 7

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ADMINISTRATIVE AGENT:    BNP PARIBAS,    as Administrative Agent    By:  

/s/ Brian Malone

   Name:   Brian Malone    Title:   Managing Director    By:  

/s/ Robert Long

   Name:   Robert Long    Title:   Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 8

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CO-SYNDICATION AGENT:    BANK OF AMERICA, N.A., as Co-Syndication    Agent   
By:  

/s/ Gregory B. Hanson

   Name:   Gregory B. Hanson    Title:   Principal

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 9

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CO-SYNDICATION AGENT:   

BMO CAPITAL MARKETS FINANCING, INC.,

as Co-Syndication Agent

   By:  

/s/ James V. Ducote

   Name:   James V. Ducote    Title:   Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 10

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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

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 11

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CO-DOCUMENTATION AGENT:    WELLS FARGO BANK, N.A., as    Co-Documentation Agent
   By:  

/s/ Stephanie B. Casas

   Name:   Stephanie B. Casas    Title:   Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 12

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CO-DOCUMENTATION AGENT:    FORTIS CAPITAL CORP.,    as Co-Documentation Agent   
By:  

/s/ David Montgomery

   Name:   David Montgomery    Title:   Senior Vice President    By:  

/s/ Darrell Holley

   Name:   Darrell Holley    Title:   Managing Director

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 13

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LENDERS:    BNP PARIBAS    By:  

/s/ Brian Malone

     Brian Malone, Managing Director    By:  

/s/ Robert J. Long

     Robert J. Long, Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 14

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LENDERS:    BANK OF AMERICA, N.A.    By:  

/s/ Gregory B. Hanson

   Name:   Gregory B. Hanson    Title:   Principal

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 15

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LENDERS:    JPMORGAN CHASE BANK, N.A.    By:  

/s/ Elizabeth Pavlas

   Name:   Elizabeth Pavlas    Title:   Assistant Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 16

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LENDERS:    WELLS FARGO BANK, N.A.    By:  

/s/ Stephanie B. Casas

   Name:   Stephanie B. Casas    Title:   Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 17

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LENDERS:    BMO CAPITAL MARKETS FINANCING, INC.    By:  

/s/ James V. Ducote

   Name:   James V. Ducote    Title:   Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 18

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LENDERS:    ALLIED IRISH BANKS P.L.C.    By:  

/s/ Mark Connelly

   Name:   Mark Connelly    Title:   Vice President    By:  

/s/ Joseph Augustini

   Name:   Joseph Augustini    Title:   Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 19

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LENDERS:    AMEGY BANK NATIONAL ASSOCIATION    By:  

/s/ Kenneth R. Batson, III

   Name:   Kenneth R. Batson, III    Title:   Vice President, Energy Lending

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 20

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LENDERS:    FORTIS CAPITAL CORP.    By:  

/s/ David Montgomery

   Name:   David Montgomery    Title:   Senior Vice President    By:  

/s/ Darrell Holley

   Name:   Darrell Holley    Title:   Managing Director

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 21

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LENDERS:    SUNTRUST BANK    By:  

/s/ James M. Warren

   Name:   James M. Warren    Title:   Managing Director

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 22

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LENDERS:    COMERICA BANK    By:  

/s/ Huma Vadgama

   Name:   Huma Vadgama    Title:   Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 23

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LENDERS:    COMPASS BANK    By:  

/s/ Patrick McWilliams

   Name:   Patrick McWilliams    Title:   Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 24

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LENDERS:    STERLING BANK    By:  

/s/ Jeff A. Forbis

   Name:   Jeff A. Forbis    Title:   Senior Vice President

 

First Amendment – Second Amended and Restated Senior Revolving Credit Agreement

Signature Page 25