Haynesville Shale

Comstock Resources - Haynesville Shale Update - Third Quarter of 2011

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.

QEP Resources Issues Haynesville Shale Update For The Third Quarter Of 2011

QEP Resources (QEP) released an update on the company’s operations in Louisiana where it is developing the Haynesville Shale. 

QEP Resources reported average net production of approximately 238 million cubic feet of natural gas equivalents per day from the Haynesville Shale during the third quarter of 2011.  The company is still restricting the flow rates on Haynesville Shale wells to minimize reservoir damage and believes that this will lead to higher estimated ultimate recoveries.  Other operational details:

• Year to date 2011 gross completed well costs averaged $9.1 million, down from $9.3 million in 2010.
• Year to date spud to total depth averaged 32 days in 2011, down from 37 days in 2010.
• Completed thirteen operated Haynesville Shale wells since last operational update.
• Six operated rigs working and seven operated wells either waiting or in the process of completion.
• Participated in fourteen non operated wells in the Haynesville Shale during the third quarter of 2011 that were put onto production.
• Company has eight non operated wells that are waiting on completion.