Comstock Resources (CRK) reported an operational update on the Haynesville play for the third quarter of 2011.
Comstock Resources drilled 51 gross or 21.6 net wells in the Haynesville Shale in 2011, and also completed 65 gross or 35.7 net wells during the first nine months of 2011. The company said that the average production rate of wells put onto production in 2011 was 10 million cubic feet of natural gas equivalents per day.
Comstock Resources reported 21 gross or 8.9 net Haynesville Shale wells waiting on completion as of 9/30/2011.
In 2012, the company plans to reduce the company’s operated rig count in the Haynesville Shale to one rig from the current level of three. The company will spend $169 million of a total $396 million budget as follows:
$104 million – To drill 37 gross or 12.6 net wells.
$65 million – To complete 17 gross or 14.7 net wells drilled in 2011.