2018 Q1 Summary Growth in our natural gas production driving stronger financial results in first quarter Natural gas production, 55% Gas Price, 5%, Oil Price, 41% Oil & Gas Sales - 74 million, 36% EBITDAX - 54 million, 57%…
Jerry Jones Asset Contribution Jerry Jones will contribute North Dakota producing oil and gas properties valued at 620 million to Comstock in exchange for common stock in the Company. The effective date of the acquisition of the…
North Dakota Properties Bakken Play Williston Basin 332 (52.5 net) producing oil wells, 128 (13.0 net) drilled uncompleted wells and 10 (3.0 net) undrilled locations Currently producing approximately 10,500 barrels of oil…
Strategic Drilling Partnership Arkoma Drilling LP and Comstock have entered into a two year joint venture through which Arkoma may participate in drilling wells proposed by Comstock in the Haynesville, Bossier and Eagle Ford shale…
Eagle Ford Shale Sale and New JV Sold 191 producing wells and 80 acre proration units to USG Energy Producer Frio Holdings, LLC for 125 million Atascosa Comstock retained all undeveloped acreage (8,740 (8,700 net acres) with 218…
Natural Gas Production (MMcf / day) 2018 natural gas production is 241 241 - - estimated to average between 1 3 14 4 3 217 12 250 to 270 MMcf per day 2 3 - 13 190 2 4- 12 162 156 11 152 149 153 2 146 3 10 4- 6 11 10 2…
Shut-in Production 8.9 8.2 NATURAL GAS (MMcf per day) 1st Quarter 2017 5.0 2nd Quarter 2017 4.5 3rd Quarter 2017 4th Quarter 2017 1st Quarter 2018 2.0 Wells shut-in for offset frac activity and storm activity. 9
Natural Gas Hedges Natural gas hedge positions to support Haynesville drilling program Volume NYMEX price (Mmbtu / day) (Per Mcf) (a) 2018 Q1 42,000 3.26 2018 Q2 60,000 3.00 2018 Q3 60,000 3.00 2018 Q4 60,000 3.00 2019 Q1…
2018 First Quarter Financial Results in millions except per share and unit amounts 2018 2017 First First % Quarter Quarter Change Oil Production (Mbbls) 190 265 -28% Gas Production (MMcf) 21,646 13,999 55% Production (MMcfe)…
Balance Sheet As of ( in millions) 3/31/18 Pro Forma (1) Cash and cash equivalents 51 145 Revolving Credit Facility 15 - 10% First Lien Secured Notes 697 697 Convertible Second Lien PIK Notes 488 488 ( All Interest PIK)…
2018 Drilling Program ( in millions) 2018 Capital Gross WI Net Expenditures Wells Wells 237 Haynesville/Bossier Shale: Drilling and Completion 126.8 36 15.6 179 Completion of 2017 Wells 22.0 ReFracs (7) 31.8 Other Non-operated…
Comstocks Acreage Cotton Valley Haynesville Shale Cotton Valley Bossier Shale Haynesville/Bossier Shale Net Acres 69,000* Resource Potential 6 + Tcf Average WI 78.7% Average NRI 80.5% Drilling 36 (15.6 net)…
Haynesville Shale JV Florsheim 9-16 2 Flournoy 29-20 2 28 MMcf/d 34 28 MMcf/d Partnered with USG to Florsheim 9-16 1 Haynesville locations jointly develop certain 27 MMcf/d 6,300 net acres Haynesville/Bossier Hunter 28-21 1…
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 Type Curve (7500' Lateral) Gen I HV Wells (Average of 12 wells) 25 Bossier Wells (Average of 2 wells) 20 Gen II HV Wells (Average of 16 wells) MMcf per day…
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 Wells (Average of 2 wells) - 7,460 ft…
2018 Outlook Strong balance sheet after property contribution by Jerry Jones Cash flow and proved reserves attributable to the properties being contributed will allow refinancing of Comstocks existing debt addressing near term…
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