Any one on here know who the swap was with?

Comstock Resources Inc. (NYSE: CRK) has added to its Haynesville Shale drilling inventory through an acreage swap.

The Frisco, Texas company said Jan. 25 it has completed the acreage swap with another operator. The value of the transaction wasn't disclosed.

The additional acreage expands Comstock's inventory of extended reach lateral locations in its core Haynesville Shale play in DeSoto Parish, La.

In the swap, Comstock will receive roughly 3,600 net acres in DeSoto Parish including four gross (3.5 net) wells currently producing about 1.1 million cubic feet of natural gas per day net to Comstock's interest.

The acreage swap will allow the company to increase the number of its Haynesville Shale drilling inventory by 39 locations, including 33 extended reach lateral locations (7,500- to 10,000 feet) and six one section lateral locations. 

In consideration for the Haynesville Shale acreage, Comstock divested about 2,500 net acres in Atascosa County, Texas. The acreage exchanged included seven gross (5.3 net) producing wells which are producing about 110 barrels of oil per day net to Comstock's interest.

The swap is an equal exchange and will require no cash outflows from Comstock, the release said.

http://www.oilandgasinvestor.com/comstock-resources-adds-haynesvill...

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The deal looks IRC Sec. 1031ish (like kind exchange).

Without knowing the specific location of the DeSoto acreage, my best guess would be Chesapeake since they currently operate a few wells in Atascosa County. CHK obviously has a large position in several natural gas plays (Haynesville, Marcellus, Fayetteville, etc.) so it would make sense to further diversify their portfolio by adding more oil (Similar to Encana's recent strategy). I don't know a lot about the Eagleford play but I believe a large part of Atascosa Co. falls within oil window of play. Until an assignment is recorded, there is no way to know for sure but that's my prediction.

I thought about BEUSA but their position is much larger than 3,600 acres. I can't imagine them trading a portion of their acreage and then trying to sell the rest (unless they were selling remaining acreage to Comstock). Also, last time that I checked, BEUSA did not have any other US onshore operations. So I'm not sure it would make sense for them to acquire a few thousands acres in South Texas? However, I also would not be surprised to see BEUSA market their HA position in the near future. There were some rumblings last year they would jump back into CV development but I don't believe that ever materialized.

EOG.  The assignments were recorded 1/26 & 27.

Ahh, that makes sense. I'll have to check out the assingment but I assume it was EOG's operated position in 11N-13W and 12N-13W. Maybe they excluded those few sections that were overly developed.

I didn't take time to pull up the individual leases for location.  EOG's list of DeSoto HA wells gives a good general idea of their former AOI.

237805

HA RA SUD;MARTIN TIMBER CO 2

002

10

002-11N-13W

238622

HA RA SUA;BR BEDSOLE ENT 27

001

10

027-12N-13W

239026

HA RA SUE;D N BELL ETUX

001

30

003-11N-13W

239046

HA RA SUL;JOHNSON 6

001

10

006-11N-12W

239415

HA RA SUG;THOMPSON 11

001

10

011-11N-13W

239599

HA RA SUC;BILLINGSLEY 35

001

10

035-12N-13W

239605

HA RA SUB;LAFFITTE 34

001

10

034-12N-13W

239675

HA RA SUV;WHITNEY CORP 2 H

001

10

002-09N-14W

240043

HA RA SUF;BLACKSTONE 10

001

10

010-11N-13W

240171

HA RA SUC;SUSTAINABLE FOREST 5

002-ALT

10

005-11N-12W

240172

HA RA SUC;SUSTAINABLE FOREST 5

001

30

005-11N-12W

240182

HA RA SUR;YARBROUGH 1

001

10

001-11N-13W

240236

HA RA SUE;BLACK STONE 3

001-ALT

34

003-11N-13W

240361

HA RA SUB;BLACK STONE 4

001

30

004-11N-12W

240378

HA RA SUC;SUSTAINABLE FOREST 5

003-ALT

10

005-11N-12W

240393

HA RA SUC;SUSTAINABLE FOREST 5

004-ALT

10

005-11N-12W

240447

HA RA SUE;BEDSOLE 3

001-ALT

03

003-11N-13W

240464

HA RA SUS;RIVES-JOHNSON 5

001

10

005-11N-13W

240494

HA RA SUB;BLACK STONE 4

002-ALT

10

004-11N-12W

240501

RIVES-JOHNSON 5

002

10

005-11N-13W

240539

HA RA SUB;BLACK STONE 4

003-ALT

03

004-11N-12W

240541

HA RA SUA;BR BEDSOLE ENT A 27

001-ALT

03

022-12N-13W

240631

HA RA SUC;SUSTAINABLE FOREST 5

005-ALT

32

005-11N-12W

240632

HA RA SUC;SUSTAINABLE FOREST 5

006-ALT

10

005-11N-12W

240725

HA RA SUC;SUSTAINABLE FOREST 5

007-ALT

10

005-11N-12W

240822

HA RA SUE;BLACK STONE 3

002-ALT

10

003-11N-13W

240875

HA RA SUC;RED RIVER 5

001-ALT

10

008-11N-12W

240876

HA RA SUC;RED RIVER 5

002-ALT

10

008-11N-12W

240913

HA RA SUYY;FAGLIE ETAL 30

001

10

030-12N-15W

240930

HA RA SUC;RED RIVER 5

003-ALT

10

008-11N-12W

240960

HA RA SUB;BLACK STONE 4

004-ALT

10

004-11N-12W

240981

HA RA SUB;BLACK STONE 4

005-ALT

10

004-11N-12W

241073

HA RA SUB;RED RIVER 4

001-ALT

10

009-11N-12W

241084

HA RA SUB;RED RIVER 4

002-ALT

10

009-11N-12W

241085

HA RA SUB;RED RIVER 4

003-ALT

10

009-11N-12W

241223

HA RA SUB;RED RIVER 4

004-ALT

10

009-11N-12W

241224

HA RA SUB;RED RIVER 4

005-ALT

10

009-11N-12W

241242

HA RA SUYY;GRANTHAM ETAL 30

001-ALT

10

030-12N-15W

241243

HA RA SUYY;GRANTHAM ETAL 30

002-ALT

10

030-12N-15W

241422

HA RA SUL;BLACK STONE 6

001-ALT

10

006-11N-12W

241486

HA RA SUB;BLACK STONE 4

003-ALT

10

004-11N-12W

241638

HA RA SUYY;GRANTHAM ETAL 30

003-ALT

03

030-12N-15W

241682

HA RA SUL;RED RIVER 6

001-ALT

10

007-11N-12W

242054

HA RA SUL;RED RIVER 6

002-ALT

10

007-11N-12W

242152

HA RA SUL;RED RIVER 6

003-ALT

03

007-11N-12W

242153

HA RA SUL;RED RIVER 6

004-ALT

03

007-11N-12W

243076

HA RA SUQ;RED RIVER 20 H

001

10

017-10N-14W

I got my hands on the one assignment that had been posted online earlier this week. It covered properties in 12N-15W and 12N-16W. That makes sense with this position being right near LA/TX border and in close proximity to Comstock's existing HA position.

Jay, do you have a contact at Bridas or happen to know who is marketing their Haynesville acreage?

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