Haynesville Shale

Comstock Resources Cuts Operated Haynesville Shale Development

Comstock Resources (CRK) announced that the company would end all operated development of its Haynesville Shale properties by March 2012.  The company took the action due to low natural gas prices.

Even with the drilling reduction, Comstock Resources plans to spend $106.8 million in 2012 on its Haynesville Shale properties.  This includes $45.4 million to drill 17 gross or 5.1 net wells and $61.4 million to complete 20 gross or 13.3 net wells during the year.

Comstock Resources revised 2012 capital plan calls for spending approximately $458.0 million for drilling and completion activities, with 77% of the budget spent on oil related projects.

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.

Comstock Resources Reports Haynesville Shale Activity For First Six Months Of 2011

Comstock Resources (CRK) reported on its development activity in the Haynesville Shale during the first half of 2011.  The company has drilled 31 gross, or 14.8 net wells to date into the Haynesville Shale.

Comstock Resources has completed 41 gross or 24.2 net wells during the first six months of 2011, and has 16 gross or 7.7 net wells waiting on completion.  The company said that the average initial production rate per well was 10 million cubic feet of natural gas equivalents per day.