Tuesday, May 3, 2011

Comstock Revises Haynesville Capex

In its first quarter earnings release yesterday, Comstock gave an update on its 2010 completions backlog and modifications to its spending plans.

The company will spend $570 million total for drilling and completion in 2011, up from an initial estimate of $522 million back in December.  It's Haynesville capex estimate has creeped up from a previous estimate of $348 million to $401 million.  Of that amount, $115 million will be used to complete the 2010 inventory.

In 2010, drilled wells got way ahead of completions activity, as just under half (35) of its 72 gross drilled wells were completed.  In the first quarter, the company completed six of these wells and has 29 (gross) in the pipeline, so to speak.

Current 2011 drilling plans call for 46 gross wells, with 35 in DeSoto Parish, 10 in Sabine Parish and one in Harrison Co. Comstock released one of its drilling rigs in the first quarter and now has four rigs working the Haynesville. It will move one of these rigs to the Eagle Ford Shale by mid-year, leaving three in the Haynesville.

1 comment:

Anonymous said...

The only Texas well to be drilled this year is the 13000 ft FURRH 1H well. The well is in the oily area of interest around Marshall
API 203-35024