2nd Quarter Highlights Completed a successful equity offering in quarter and redeemed 210 million of our Series A Convertible Preferred Stock Completed a successful senior notes offering to pay down bank credit facility Reduced bank…
2nd Quarter Equity and Notes Offerings In May, Comstock issued 41,325,000 shares in an underwritten equity offering and used the proceeds with Sources & Uses cash on hand to redeem the 210 ( in millions) Equity Offering Notes…
Haynesville/Bossier Production Pro Forma for Covey Park 1,254 1,270 1,214 Acquisition 1,110 1,101 (MMcf / day) 1,002 915 824 711 603 561 498 451 359 271 241 180 119 2016 2016 2016 2016 2017 2017 2017 2017 2018…
Shut-in Production Natural Gas Wells shut-in for pipeline curtailment or offset frac activity (% of natural gas production) (MMcf per day) 23% of oil production curtailed in 2nd quarter due to low oil prices 6
Hedging Program In the first six months of 2020 Comstock had 49% of its gas production hedged, which increased the realized gas price to 1.96 per Mcf versus 1.59 per Mcf excluding hedges In the first six months of 2020 Comstock also…
Q2 2020 Financial Results in millions except per share and unit amounts 2019 Q2 2020 Q2 Oil Production (Mbbls) 695 360 -48% Gas Production (MMcf) 40,928 116,477 185% Production (MMcfe) 45,093 118,631 163% Oil Price (Per Barrel)…
6 Months 2020 Financial Results in millions except per share and unit amounts 2019 6M 2020 6M Oil Production (Mbbls) 1,505 814 -46% Gas Production (MMcf) 74,077 239,263 223% Production (MMcfe) 83,105 244,144 194% Oil Price (Per…
Low Cost Structure Operating Costs Per Mcfe P Predecessor (Before 8/14/18) 10
Low Cost Structure Cash G&A Per Mcfe P Predecessor (Before 8/14/18) 11
Low Cost Structure DD&A Per Mcfe P Predecessor (Before 8/14/18) 12
2020 Drilling Program ( in millions) Second Quarter 2020 Six Months 2020 Average Average Lateral Gross WI Net Lateral Gross WI Net (feet) Wells Wells (feet) Wells Wells Completion of Wells Drilled in 2019 1.5 7,637 2 0.2 49.6…
Balance Sheet Bank Credit Facility Capitalization ( in millions) 6/30/2020 Cash and Cash Equivalents 12 Senior Secured Revolving Credit Facility: Revolving Credit Facility 800 1.4 billion borrowing base 7.50% Senior Notes due 2025…
Haynesville Shale Drilled and completed 237 operated wells with average IP rate of 23 MMcf/d Net Acres 305,000 (Haynesville / Bossier) Haynesville Shale Bossier % Held by Production 95% Harrison % Operated 92% % Working…
Drilling Location Inventory Extensive inventory of high return drilling locations As of June 30, 2020 Haynesville Operated Non-Operated Total (G r o ss) (Net ) (G r o ss) (Net ) (G r o ss) (Net ) up to 5,000 ft. 347 263.1 585…
2020 Outlook Focused on free cash flow generation and managing through low oil and natural gas price environment Comstock has industry leading low cost structure and well economics Haynesville drilling program generates economic…
2020 Guidance Guidance FY 2020 Production (Mmcfe/d) 1,250 - 1,300 % Natural Gas 97% - 99% Capital Expenditures (MM) 400 - 440 Expenses (/Mcfe) Lease Operating 0.23 - 0.27 Gathering & Transportation 0.23 - 0.27 Production Taxes…
Loading...
