As natural gas prices swing lower from 2022 highs, Haynesville Shale-focused Comstock Resources Inc. said it is dropping two of nine operated natural gas drilling rigs.

After a strong third quarter bolstered by high natural gas prices, the Frisco, TX-based independent has taken note as “natural gas prices have fallen over 70% since September,” said CEO Jay Allison during the fourth quarter and full-year earnings call. 

“In 2023, we will continue to derisk and delineate our western Haynesville play with a two-rig program in 2023 and we are managing our drilling activity to levels to prudently respond to the lower gas price environment we’ve had so far this year,” Allison said. 

[Mexico Matters: Cross-border energy trade between the U.S. and Mexico reached $42 billion...