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HOUSTON (AP) -- Independent oil and gas explorer Petrohawk Energy Corp. said Tuesday Chief Operating Officer Williamn Hahne will retire next month, and his duties will be assumed by co-founder Richard Stoneburner. Stoneburner, 53, currently the executive vice president of Petrohawk's exploration division, will replace Hahne on Oct. 1. Weldon Holcombe, executive vice president of mid-continent operations, will continue to manage the Elm Grove and Terryville fields and the Fayetteville Shale. Hahne, 55, joined Petrohawk as COO after the company's acquisition of KCS Energy in July 2006. He has been a "key decision maker" as the companies integrated, developed new resources and started selling Gulf Coast assets to form a master limited partnership, Petrohawk's chairman, president and chief executive, Floyd Wilson, said in a statement. Stoneburner has worked in the oil and gas industry for 30 years and co-founded Petrohawk in May 2004. Stoneburner led the company's Gulf Coast division, where he oversaw staff and drilling and negotiated several joint ventures for production and reserve growth. His recent role has been oversight of the Fayetteville Shale. Petrohawk shares rose 24 cents to $15.67 in morning trading.
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