Comstock Resources Inc. has beefed up its Haynesville Shale inventory with the all-stock acquisition of an undisclosed operator, but going into 2020 it plans to run fewer rigs in the natural gas-heavy play.
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Comstock Resources Inc., which this year became the No. 1 operator in the natural gas-heavy Haynesville Shale, said second quarter output from the play was 88% higher than a year ago and 19% higher sequentially, but confronted with continued low prices, the company is playing defense.
With a substantial cash infusion from Dallas Cowboys owner and top shareholder Jerry Jones, Comstock Resources Inc. plans to acquire privately held Covey Park Energy LLC to create what could be the Haynesville Shale’s largest natural gas producer.
The Haynesville Shale continued to be the go-to spot for Comstock Resources Inc. during 1Q2019, where four rigs are now running across the company’s 88,000-acre leasehold.
After executing a transformative deal last year with Dallas Cowboys owner Jerry Jones to return the company to profitability, Comstock Resources Inc. has unveiled plans to spend more on completions in 2019 and grow natural gas production by about 50%.
Haynesville Shale producer Comstock Resources Inc. reported solid results from its mainstay play during the first quarter, and it now is gearing up to expand its expertise in the Bakken Shale with the backing of Dallas Cowboys owner Jerry Jones.
U.S. onshore producer Comstock Resources Inc. on Thursday said negotiations are underway with Dallas Cowboys owner Jerry Jones to become the majority shareholder.
Onshore producer Comstock Resources Inc. replaced 387% of production and increased proved reserves by 27% during 2017, with natural gas output rising from the Haynesville Shale.
Comstock Resources Inc. is expanding a joint venture (JV) with USG Properties Haynesville LLC (USG) to build its inventory in East Texas and North Louisiana and drill more extended lateral wells.