Exploration & Production | Capital Markets | Capital Expenditure
Comstock Bets on Eagle Ford, TMS for 2014; Axes Gas Ops
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Comstock Resources, Inc. has budgeted $450 million in 2014 for its drilling and completion activities.
Comstock has budgeted an additional $28 million for leasing activities. The 2014 drilling program will focus on the continued development of the Company's South Texas Eagle Ford shale properties and the delineation of its recently acquired East Texas Eagle Ford shale properties and its Tuscaloosa Marine shale properties.
The Company has not budgeted to drill any natural gas wells in 2014. Comstock expects to utilize five operated rigs to execute its 2014 drilling program.
The 2014 budget includes $80 million for completion costs of 29 (21.0 net) South Texas Eagle Ford shale wells that were drilled in 2013 but will be completed in 2014. In addition to completing the wells drilled…
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