Here is what Comstock had to say about its refracking program:
"(T)he Pace #33 (is) currently flowing at 4 million cubic feet per day ("MMcf/d") of natural gas on a 22/64-inch choke. Before the refrac, the well had been flowing at 0.5 MMcf/d. Following the refrac, the well experienced an eight-fold increase in flowrate and a three-fold increase in flowing pressure. Total cost for the refrac of the well was approximately $2 million. The Company expects to achieve cost reductions on future refrac projects of 10% to 15% below the costs for the Pace #33, and estimates internal rates of return of 40% to 69% on the refrac program assuming natural gas prices of $3.00 to $3.50 per thousand cubic feet. The Company has identified approximately 185 future Haynesville refrac candidates."I had previously noted that Comstock found religion with enhanced completion techniques on new drills. I guess persistent low gas forced them to look for some new religion, and they found it in refracking.