Tuesday, August 4, 2009

Comstock: More Wells in 2009 Than Originally Planned

Comstock Resources announced its earnings yesterday and it affirmed that its main operating goal this year is to drill the Haynesville Shale. The company’s 2009 capital budget is $360 million and because of lower drilling costs the company expects to drill 38 Haynesville horizontal wells (up from 33). The Haynesville program represents 78% of its planned new wells for 2009.

To date, Comstock has drilled 21 horizontal wells (gross), 14 of which have been completed with an average IP of 11.6 MMcf/day. The company is operating four rigs in the play at this time.

Since Comstock’s last report, the company has completed seven Haynesville wells, three in the Blocker Field in Harrison Co., TX, three in Logansport Field in DeSoto Parish, LA and one in Toledo Bend North Field in DeSoto Parish. Below is a map of all of Comstock's wells with a detailed summary of the new wells:


  • Green #13H: 6.5 MMcf/day with ten frac stages; Blocker Field, Harrison Co.

  • Cox #1H: 8.2 MMcf/day with ten frac stages; Blocker Field, Harrison Co.
  • Woods #1H: 8.5 MMcf/day with ten frac stages; Blocker Field, Harrison Co.
  • Colvin-Craner #2H: 21.2 MMcf/day with ten frac stages; Logansport Field, DeSoto Parish
  • Broome #1H: 16.7 MMcf/day with 11 frac stages; Logansport Field, DeSoto Parish
  • Weyerhaeuser #2H: 16.2 MMcf/day with ten frac stages; Logansport Field, DeSoto Parish
  • BSMC 7 #2H: 11.6 MMcf/day with ten frac stages; Toledo Bend North Field, DeSoto Parish (Bossier Shale)
The slide below shows the stacked nature of the Haynesville and Mid-Bossier plays.

As noted above, the company plans a 38 well program for the Haynesville Play, including 34 in Louisiana and four in Texas, as shown below (this includes wells already drilled):

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