Exploration & Production | Drilling & Completions | Capital Markets | Capital Expenditure | Drilling Program
Eagle Ford Operator Cuts Budget
Print
|
Comstock Resources, Inc. has announced that it will reduce its 2015 capital spending plan by approximately 22% to $248 million, a savings of over $69 million versus its previously announced budget on December 18, 2014.
In addition to seeing improving drilling and completion costs, the recent success of the Company's first Haynesville shale refrac will allow the Company to release one of its operated rigs drilling in the Haynesville shale at the end of March. As a result, the Company now plans to spend $95 million and drill nine (8.3 net) long lateral new wells in the Haynesville shale during 2015.
Comstock is also increasing capital allocated toward the Haynesville shale refrac program. The Company now plans to spend $23 million on 14 Haynesville refracs. There are no other significant…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations