Our Plan for 2015 Pursue prudent natural gas drilling program with improved completion technology Over 6 Tcf of reserve potential in Haynesville / Bossier shale Enhanced recovery from longer laterals and increased stimulation Over…
Areas of Focus Haynesville/ Bossier Tuscaloosa Mississippi East Texas Marine Shale Eagle Ford Texas South Texas Eagle Ford Louisiana Company Overview Proved Reserves- 620 Bcfe 68% - proved developed 20% - oil 80%…
Major Properties Other Proved Reserves 14 Bcfe Wells - 336 San Juan E. Texas / N. Louisiana Proved Reserves - 385 Bcfe Wells 935 South Texas Proved Reserves 36.9 Mmboe Longwood Texas Wells - 325 Waskom Drew Logansport…
East Texas / North Louisiana Region East Texas / North LA Reserves: 385 Bcfe Own interests in 935 producing wells in 28 fields 69,000 net acres Longwood with Lower Blocker Waskom Haynesville shale Logansport Drew…
Haynesville/Bossier Shale Cotton Valley Haynesville Shale Cotton Valley Bossier Shale Haynesville/Bossier Shale Gross Acres 81,000 Net Acres 69,000 Resource 9 new wells planned for 2015 6 Tcf Potential 14 refracs of…
Why Focus on the Haynesville Applying newest drilling and completion technologies to an established world class asset Extended laterals Larger stimulation treatments Attractive rates of return New wells have 27% to 47% rates of…
Haynesville Well Design - New vs. Old Old Well New Well Estimated Well Cost ( millions) 7.5 9.5 to 10.5 Lateral Length (ft) 4,600 7,500 Stages 17 27 Cluster Spacing (ft) 60 55 Fluids/Cluster (k gals) 80 110 Proppant/Cluster (k lbs) 50…
Enhanced Recovery in the Haynesville Shale Original 640 Acre Pattern New Long Lateral Pattern 8 Wells per Section 6 Wells per 1-1/2 Sections 17 Stages, 4,600 lateral 27 Stages, 7,500 lateral Increased recovery is achieved by…
Haynesville Well Economics 12
South Texas Region South Texas Reserves: 36.9 MMBOE (55% Oil) East Texas Eagle Ford Own interests Texas in 325 South Texas Eagle Ford producing wells in 14 fields 55,000 net acres with Las Hermanitas Eagle Ford…
South Texas Eagle Ford Shale Program 31,000 gross acres (24,000 net) prospective for oil in the Eagle Ford shale 105 future drilling locations in oil window Atascosa Frio LaSalle McMullen 14
East Texas Eagle Ford Acreage 35,000 gross acres (32,000 net) in the East Texas Eagle Ford shale 125 future drilling locations in oil window Texas 15
East Texas Eagle Ford Activity Comstock Halcon Anadarko Clayton Williams Apache Petromax Brazos William IP24: 919 BOE/d Henry A 1,2,3,4 Burleson IP24: 1,247, 815, 657, 820 BOE/d Flencher IP24: 327 BOE/d* Kovar IP24:…
TMS Acreage 90,000 gross acres (82,000 net) in the Tuscaloosa Marine shale in Louisiana and Mississippi 327 future drilling locations CMR Foster Creek 28-40 1H Mississippi IP24: 874 BOE/d Amite Wilkinson Louisiana…
2015 Drilling Program ( in millions) Gross WI Net Drilling Budget Wells Wells Expenditures East Tex./North La.: 483 Haynesville Shale 95.0 9 8.3 Refracs 23.0 344 118.0 9 8.3 238 South Texas: Eagle Ford Shale 30.0 4 4.0…
Oil Production (MBbls / day) From Continuing Operations 12.4 12.2 12.20.5 0.2 0.2 11.5 0.5 2015 oil production is estimated to 10.4 0.2 average between 9,500 to 10,500 barrels per day. 7.6 6.90.3 0.3 6.0 0.2 12.0 12.0…
Natural Gas Production (MMcf / day) From Continuing Operations 272 2015 natural gas production is 253 11 254 estimated to average between 5 10 245 239 11 24 5 6 23 10 6 5 3 218 130 to 155 MMcf per day 212 26 32 23 23 4…
Low Cost Structure 2014 Costs Per Mcfe 3.97 Comstock total producing costs 0.91 are 32% lower 2.70 than the average E&P total 0.88 Interest producing costs 0.89 G&A Lifting 0.33 16thlowest of 64 2.18 companies…
Balance Sheet ( in millions) March 31, 2015 Cash and cash equivalents 229 Revolving Credit Facility - 10 % Senior Secured Notes due 2020 700 7 % Senior Notes due 2019 405 9 % Senior Notes due 2020 289 Total Debt 1,394 Total Net…
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