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Comstock Inks Acreage Swap Deal; Adds to Haynesville Portfolio
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Comstock Resources, Inc. has completed an acreage swap with another operator which increases the Company's Haynesville Shale drilling inventory. The swap is an equal exchange and therefore will require no cash outflows from Comstock. The additional acreage expands Comstock's inventory of extended reach lateral locations in its core Haynesville Shale play in DeSoto Parish, Louisiana.
In the swap, Comstock will receive roughly 3,600 net acres in DeSoto Parish, Louisiana including four gross (3.5 net) wells currently producing approximately 1.1 million cubic feet of natural gas per day net to Comstock's interest. The acreage swap will allow the Company to increase the number of its Haynesville Shale drilling inventory by 39 locations, including 33 extended reach lateral locations (7,500…
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