Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Deals - On The Market | Deals - Property For Sale

Comstock in Talks to Buy Chesapeake's Haynesville Asset

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Saturday,November 16,2019

Reuters is reporting that Comstock Resources is in talks to buy Chesapeake Energy's Haynesville asset for around $1 billion

Comstock has been ramping up acquisitions in the Haynesville in 2019 - acquiring Covey Park in July 2019 for $2.2 billion as well as acquiring an unnamed private E&P with assets in the Haynesville during Q3.

But what is Comstock considering buying?

Chesapeake Haynesville asset:

  • Land/Leasehold: 401,000 Gross (337 net) acres - 89% developed
  • Production: 694 MMcf/d (as of 3q/19)

The acreage offset's Comstocks acreage in the core of the basin.  See the map below from Shale Experts Lower 48 Map database.    

If a sale were to materialize, Comstock would become one of the top 5 US gas producers, with a total production of 1.69 Bcfe/d and 737,000 net acres under lease.  While the deal would give Chesapeake the much needed cash, it would reduce the company's quarterly revenue by 10%


Related Categories :

Deals - Property For Sale   

More    Deals - Property For Sale News

Ark-La-Tex News >>>