landowner

Comstock Has Sold A Significant Portion Of Its Traditional Haynesville Leasehold

In a 141-page assignment document filed in Cherokee County on September 5, Comstock has disclosed the sale of a significant portion of its "traditional" Haynesville leasehold, including wells:
20% to Brookston Energy #1 LP (based in Tyler, TX) and
80% to Five States Energy Income 2023 LLC (based in Dallas).
The sale was effective September 1.
You can find the document here by searching for Comstock on September 5:
I'm not familiar enough with their traditional Haynesville operation to comment on what remains after the sale.

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on September 14, 2025 at 10:31

Nice catch, Alan.  Thanks for the link.  I performed the initial research for a sale of deep rights under old leases in Harrison and Panola counties to Comstock a number of years ago.  This is an unsurprising sale considering everything that Comstock has said publicly about their legacy Haynesville and Western Haynesville assets.  The company's future rests in the Western Haynesville and it makes sense to monetize their more mature Haynesville Shale leasehold in those East Texas counties to fund their plans in the Western Haynesville.


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on September 14, 2025 at 12:39

I did a quick review of the assignment filed in DeSoto Parish and it is depth limited.  The depths assigned are from the surface to the top of the Cotton Valley formation so no Haynesville Shale units are included.  This makes sense as Brookston's focus is on those more shallow producing wells and if Comstock was selling Haynesville Shale assets it would have been to one of the current major Haynesville operators.


landownerPermalink Reply by Alan Herrington on September 14, 2025 at 15:10

Yep, I screwed up, Skip!  Thanks to you and Rock Man for the correction!


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on September 14, 2025 at 15:32

No, it was a good catch.  The tell was the buyer being Brookston.  I have a few clients under Brookston's wells so know a little bit about the company.  A sale of Haynesville depths to Brookston didn't make any sense so I looked a little closer.

Permalink Reply by Hale Yayuh on September 15, 2025 at 15:52

I was confused, too, couldn't figure out how in the world Brookston was going to handle the Haynesville. Which takes super deep pockets and expertise.

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