Comstock Resources (CRK) held a conference call on August 3, 2010, to discuss the company’s second quarter earnings. The company made some comments on its operations in the Haynesville Shale, where Comstock Resources has 78,000 net acres.
“We also spent $62 million this year to acquire exploratory acreage. $39 million was spent to acquire 5,000 additional net acres respective for the Haynesville Shale in North Louisiana.”
“Since our last operational update, we’ve completed five operated Haynesville Shale wells. Three of the completed wells are in our North Toledo Bend field in DeSoto Parish Louisiana; one is in Logansport Field in DeSoto Parish and one in the Beckville field in Harrison County, Texas.”
“The wells North Toledo Bend were tested, at an average per well initial production rate of 10 million per day. The Logansport well was tested at 16 million per day and the Beckville well in East Texas was tested at 9 million per day. These wells were drilled with horizontal laterals from 4500 to 5000 feet and were completed with 15 to 18 frac stages.”
“Our planned activity this year to further develop our Haynesville and Bossier Shale acreage. 41 wells are planned for Logansport and 15 are planned for Toledo Bend North and South field.”
“The initial production rates reflect our choke back program where new completions are being tested and produced with a tighter choke to maintain a high reservoir pressure and the well for a longer time. We believe that the ultimate reserve recovery will improve when the well’s completed in this manner.”
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