Investment Considerations Comstocks high return Haynesville Shale assets provide opportunity for strong growth in 2017 Comstocks enhanced completion design has transformed the Haynesville shale into one of North Americas highest…
Major Properties E. Texas / N. Louisiana Proved Reserves 1,105 Bcfe Wells 872 Other Proved Reserves 4 Bcfe Wells 246 Company Overview South Texas Proved Reserves- Proved Reserves 53 Bcfe 1.2 Tcfe Wells 191 41% - proved…
East Texas / North Louisiana Region East Texas / Own interests in 872 North LA producing wells in 23 Reserves: 1,105 Bcfe fields Waskom 68,000 net acres Blocker Longwood Drew with Lower Haynesville shale Beckville…
Comstocks Acreage Cotton Valley Haynesville Shale Cotton Valley Bossier Shale Haynesville/Bossier Shale Net Acres 68,000* Resource Potential 6 + Tcf Average WI 78.7% Average NRI 80.5% Drilled 29 (15.7 net) wells in…
Haynesville Shale Program Applying newest drilling and completion technologies to an established world class asset Extended laterals Larger stimulation treatment Strong rates of return with higher EURs Haynesville shale wells have…
Regional Natural Gas Price Advantage North East Pipelines(2) -89 N. Louisiana Pipelines(1) -12 Henry Hub Exports to Mexico LNG Exports +3.5 Bcf/d by 2020 +8.5 Bcf/d by 2020 Gulf Coast Industrial Demand +5.5 Bcf/d…
Gen II Haynesville Completion New completion design increases the total stages for a 7,500 lateral from 30 at 250 feet apart to 50 at 150 feet apart Total clusters increase from 150 to 250 Sand loading increases from 2,800 pounds per…
Gen II vs. Gen I Results 32% higher IP rate per 1,000 completed lateral foot IP (MMcf/day) per 1,000 feet of lateral length 4.3 3.3 Gen I (2,800 lbs. per ft.) Gen II (3,800 lbs. per ft.) 13 wells 15 wells 10
Haynesville Shale Wells IP rate per 1,000 feet of completed lateral Holmes 29-20 Gamble 4-33 3.9 MMcf/d 3.2 MMcf/d Headrick 14-11 1 5.3 MMcf/d Harrison 30-19 3.2 MMcf/d Headrick 14-11 2 4.6 MMcf/d Holmes 29-32 3.3 MMcf/d Headrick…
Haynesville/Bossier Wells Wells exceeding expectations 30 Gen 1 Curve (7,500 ft. lateral) 25 Gen I HV Wells (Average of 12 wells) Bossier Shale Well 20 Gen II HV Wells (Average of 8 wells) MMcf per day 15 Short Lateral…
Haynesville/Bossier Wells per 1,000 feet of completed lateral 4 Type Curve MMcf/1,000 ft. of completed lateral per day 3 Gen I HV Wells (Average of 12 wells) - 7,194 ft. Bossier Shale Well - 7,430 ft. 2 Gen II HV Wells…
Haynesville Well Economics Gen 2 Completion Design - 4,500' L 7,500' L 10,000' L Estimated Well Costs ( millions) 6.8 10.3 12.7 24 Hr. IP (Mmcf per day) 17 22 26 Decline B Factor 0.99 0.99 0.99 Initial Decline (%) 72 65 61 30…
Haynesville Shale JV 34 Partnered with USG to Haynesville locations jointly develop certain 7,000 acres Haynesville/Bossier acreage Harrison Caddo Parish acreage County, TX is owned by USG and Comstock participates Panola for…
Completing a two well pad on the JV Acreage in Caddo Parish 17
Proved Oil and Gas Reserves Comstock achieved an all-in finding cost of 54 per Mcfe in 2017 Oil Gas Total MBbls Bcf Bcfe Proved Reserves as of 12/31/16 7,277 872.5 916.1 Production (951) (73.5) (79.2) Divestitures (7) (7.6)…
2017 Drilling Program ( in millions) 4th Quarter 2017 2017 Gross WI Net Gross WI Net Actual Wells Wells Budget Wells Wells East Tex./North La.: Haynesville Shale 31.0 5 1.4 155.5 22 14.4 Bossier Shale 9.0 7 1.3 9.0 7 1.3 Leases…
2018 Drilling Program ( in millions) Capital Expenditures 179 170 2018 Gross WI Net Wells Wells Haynesville/Bossier Shale: Drilling and Completion 132.8 31 12.4 Completion of 2017 Wells 17.5 ReFracs (5) 15.9 Other 3.8…
Natural Gas Production (MMcf / day) 2018 natural gas 241 - production is estimated 1 3 14 to average between 250 217 - 2 3 to 270 MMcf per day 190 13 2 4- 12 162 152 153 156 11 149 2 - 146 3 10 4 6 11 10 2 12 3 133…
Natural Gas Hedges Natural gas hedge positions to support Haynesville drilling program Volume NYMEX price (Mmbtu / day) (Per Mcf) (a) 2017 Q3 99,000 3.38 2017 Q4 99,000 3.38 2018 Q1 29,000 3.38 (a) The index price for the…
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