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Comstock's Production Up 46% YOY to 22.8 Bcfe

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   |    Tuesday,May 29,2018

Comstock Resources reported its Q1 2018 results.

Highlights:

- Comstock produced 22 Bcf of natural gas and 190,000 barrels of oil or 22.8 Bcfe in the first quarter of 2018 (up +46% YOY and flat from 4Q17).

- Spent $46.5 million on its development and exploration activities and drilled seven horizontal natural gas wells (2.0 net) and had eight wells (1.6 net) drilling at March 31, 2018. Comstock also completed nine (3.5 net) operated wells that were drilled in 2017.

- Since the last operational update, Comstock has completed six operated Haynesville shale wells. The average initial production rate of these wells was 27 MMcf per day.

- The six operated wells had completed lateral lengths ranging from 8,599 feet to 9,474 feet and each well was tested at initial production rates of 27 to 28 MMcf per day.

- Comstock has four (1.0 net) operated Haynesville shale wells that are in the process of being completed.

- The Company also reported on two successful Bossier wells which were drilled in Sabine Parish, Louisiana. These wells had initial production rates of 17 and 20 MMcf per day. An additional Bossier shale well has been completed and is currently flowing to sales.

 

 

 

 

 

 



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