Monday, April 20, 2009

Comstock Resources: Update

Comstock Resources has approximately 70,000 net acres (86,000 gross acres) in the Haynesville Shale. More than half of the land is on the Louisiana side, but its 2009 drilling program will be split between Texas and Louisiana. Comstock is planning 30 horizontal Haynesville wells for 2009, as shown below (the green shaded areas indicate Comstock's leasehold):

The company also offered a snapshot, shown below, of what it considers to be the competitive wells near its leased property. Most of these wells aren't yet reporting, but neighboring results look pretty decent.

It's always interesting to see a company's take on explaining the geology of the Haynesville Shale. As with other competitors, Comstock is seeing drilling costs of approximately $8 million per well.

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