COMSTOCK RESOURCES, INC. REPORTS FOURTH QUARTER 2022 FINANCIAL AND OPERATING RESULTS
This is an excerpt, for the full article click this link: https://investors.comstockresources.com/news-releases/news-release-...
Emphasis added is my own.
FRISCO, TX, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) today reported financial and operating results for the quarter and year ended December 31, 2022.
Comstock drilled 73 (57.0 net) operated horizontal Haynesville/Bossier shale wells in 2022 which had an average lateral length of 10,044 feet. The Company also participated in an additional 42 (3.4 net) non-operated Haynesville shale wells in 2022. Comstock turned 66 (53.6 net) operated wells and 38 (1.8 net) non-operated wells to sales in 2022 and currently expects to turn an additional 17 (10.5 net) operated wells to sales in the first quarter of 2023.
Since its last operational update in November, Comstock has turned 19 (13.1 net) operated Haynesville/Bossier shale wells to sales. These wells had initial daily production rates that averaged 25 MMcf per day. The completed lateral length of these wells averaged 10,186 feet. Included in these results was the second successful exploratory well drilled in the Western Haynesville area, the Cazey Black A #1, which had an initial production rate of 42 MMcf per day.
2023 Drilling Budget
In response to the current lower natural gas prices, Comstock is releasing two of its nine operated drilling rigs and currently plans to spend approximately $950 million to $1.15 billion in 2023 on drilling and completion activities primarily focused on the continued development of its Haynesville/Bossier shale properties and delineation of its Western Haynesville play. Comstock also expects to spend $75 million to $125 million on infrastructure, including upgrades to its Western Haynesville pipeline and processing facilities, and for other development costs. Under its current operating plan, Comstock expects to drill 67 (50.5 net) and complete 69 (49.2 net) operated horizontal wells in 2023, including eight (8.0 net) wells in the Western Haynesville area. Comstock also expects to spend an additional $25 million to $35 million on lease acquisitions in 2023.
Thanks so much for posting this Skip!
To the last paragraph in the release, does "Western Haynesville play" or "Western Haynesville area" possibly include the Spider field? Or more specifically, the proposed wells in the attachment? As always, appreciate your wisdom and patience with average Joe's like me who are still learning.
Western play is over in East Texas around Franklin / Hearne / Jewett in Robertson and Leon Counties
Thanks for clarifying!
Thanks Rock Man. If you have the time to parse the Cazey Black A #1 I would appreciate it. 42 MMcf per day IP is impressive. How would that break down as Bcf per 1000' of perforated lateral? At what point in time will we begin to get a feel for the decline rate in these Western Haynesville wells?
Initial well there has produced for several months (6 I think) - was still making 30 MMCF per day in latest month. These are strong wells but very expensive - target zone for laterals is below 16,000' TVD.
I think the production from this area was being posted under another discussion thread on this site. Plus all data on the Tx RRC site
Personally, I would say too early to project EUR's - and BCF per 1000' - right now. Comstock probably has some good ideas but JQ Public needs more info.
Those responses are hard to find for those who didn't participate or follow that discussion. The subject was different. At some point when there is more data, we should consider a discussion focusing on the Western Haynesville Play. For those who are interested, the information that Rock Man alludes to is contained in this discussion.
I'd like to see that two discussion threads on this merged into one
"Comstock / Aethon et al Play in Robertson and Leon Counties Tx"
I'll see what I can do. Don't hold your breathe. LOL!
Does anyone have information regarding if natural gas production will continue for some time in: SECTION 13, TOWNSHIP 12 NORTH, RANGE 16 WEST - De Soto Parish, Louisiana? Comstock Resources pays our mineral rights.
There are four new wells producing from Section 13 but there is no reported monthly production available on SONRIS at this time. I suspect that there is a lot of gas being produced out of 13 but it will take a little longer for royalty owners to see the income. Be patient.