Haynesville Shale giant Comstock Resources Inc. should see “moderate” production growth this year as market conditions improve, executives said Wednesday during a first quarter earnings call.
The Frisco, TX-based independent has 323,000 net acres in the Haynesville/Bossier formations across East Texas and North Louisiana, one of the gassiest regions of the country.
Production this year is set to average 1.33-1.45 Bcf/d, executives said. Output in the first quarter averaged 1.281 Bcfe/day, 98% natural gas. Output was 6% higher sequentially but 7% lower than in the year-ago period, CEO Jay Allison said.
The winter storm in Texas in February impacted around 500 MMcf/d of production for “several days,” executives said.
First quarter natural gas prices averaged...