Edition:
United States

Profile: Comstock Resources Inc (CRK)

CRK on New York Consolidated

9.94USD
20 Jan 2017
Change (% chg)

-- (--)
Prev Close
$9.94
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
615,704
52-wk High
$11.62
52-wk Low
$2.64

Comstock Resources, Inc., incorporated on November 23, 1983, is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company's oil and gas operations are concentrated in Texas and Louisiana. Its operations are focused in two operating areas: East Texas/North Louisiana and South Texas. The Company's properties in the East Texas/North Louisiana region include approximately 80,660 acres in the Haynesville or Bossier shale formations. The Company's Eagleville field includes approximately 30,220 acres located in the oil window of the Eagle Ford shale in South Texas. The Company owns interests in over 1,575 producing oil and natural gas wells, and operates over 950 of these wells.

East Texas/North Louisiana Region

Approximately 79%, or 495.4 billion cubic feet of natural gas equivalent (Bcfe) of the Company's proved reserves are located in East Texas and North Louisiana where it owns interests in over 920 producing wells in over 30 field areas. The Company operates over 640 of these wells. The largest of its fields in this region are the Logansport, Beckville, Toledo Bend, Waskom, Blocker, Mansfield, Douglass and Longwood fields. Production from this region averages approximately 110 million cubic feet of natural gas (MMcf) of natural gas per day and over 160 barrels of oil per day. Most of the reserves in this area produce from the upper Jurassic aged Haynesville or Bossier shale or Cotton Valley formations and the Cretaceous aged Travis Peak/Hosston formation. The Logansport field located in DeSoto Parish, Louisiana primarily produces from the Haynesville and Bossier shale formations at a depth of 11,100 to 11,500 feet and from multiple sands in the Cotton Valley and Hosston formations at an average depth of over 8,000 feet.

The Company's proved reserves of approximately 422.6 Bcfe in the Logansport field represent approximately 68% of its proved reserves. The Company owns interests in over 250 wells and operates over 180 of these wells in this field. The Beckville field, located in Panola and Rusk Counties, Texas, has estimated proved reserves of approximately 24.6 Bcfe, which represents approximately 4% of the Company's proved reserves. It operates over 190 wells in this field and own interests in over 70 additional wells for a total of over 260 wells. The Beckville field produces primarily from the Cotton Valley formation at depths ranging from 9,000 to 10,000 feet.

The Toledo Bend field, located in DeSoto and Sabine Parishes in Louisiana, is productive in the Haynesville shale from 11,400 to 11,800 feet and in the Bossier shale from 10,880 to 11,300 feet. The Company's proved reserves of approximately 18.8 Bcfe in the Toledo Bend field represent approximately 3% of its reserves. The Company owns interests in over 80 producing wells and operates over 40 of these wells in this field. The Waskom field, located in Harrison and Panola Counties in Texas, represents approximately 1% (8.9 Bcfe) of the Company's proved reserves. The Company owns interests in over 60 wells in this field and operates over 40 wells in this field. The Waskom field produces from the Cotton Valley formation at depths ranging from 9,000 to 10,000 feet and from the Haynesville shale formation at depths of 10,800 to 10,900 feet. The Company's proved reserves of over 6.9 Bcfe in the Blocker field located in Harrison County, Texas represent approximately 1% of its proved reserves. The Company owns interests in over 70 wells and operates over 70 of these wells. Most of this production is from the Cotton Valley formation between 8,600 and 10,150 feet and the Haynesville shale formation between 11,100 and 11,450 feet.

South Texas Region

Approximately 19%, or 20.0 Bcfe of the Company's proved reserves are located in South Texas, where the Company own interests in over 320 producing wells. The Company owns interests in over 10 field areas in the region, the largest of which are the Eagleville, Fandango, Giddings, Rosita, Javelina and Las Hermanitas fields. The Company has approximately 30,219 acres in McMullen, Atascosa, Frio, La Salle, Karnes and Wilson Counties. The Eagle Ford shale is found between 7,500 feet and 11,500 feet across the Company's acreage position. It has over 200 wells producing in the Eagleville field. The Company's proved reserves in this field are estimated to be approximately 61.3 Bcfe and represent over 10% of its total proved reserves. The Company owns interests in over 20 wells in the Fandango field located in Zapata County, Texas. The Company operates all of these wells, which produce from the Wilcox formation at depths from 13,000 to 18,000 feet. The Company's proved reserves of 27.5 Bcfe in this field represent approximately 4% of its total proved reserves. The Eagle Ford shale is found between 7,500 feet and 11,500 feet across the Company's acreage position.

The Company owns interests in over 20 wells in the Rosita field, located in Duval County, Texas. It operates these wells, which produce from the Wilcox formation at depths from 9,300 to 17,000 feet. The Company's proved reserves of approximately 20.3 Bcfe in this field represent approximately 3% of its total proved reserves. The Company owns interests in and operates over 20 wells in the Javelina field in Hidalgo County in South Texas. These wells produce primarily from the Vicksburg formation at a depth of 10,900 to 12,500 feet. The Company's proved reserves attributable to its interests in the Javelina field are over 4.5 Bcfe, which represents approximately 1% of its total proved reserves. The Company owns interests in and operates over 10 natural gas wells in the Las Hermanitas field, located in Duval County, Texas. These wells produce from the Wilcox formation at depths from 11,400 to 11,800 feet. The Company's proved reserves of over 3.2 Bcfe in this field represent approximately 1% of its total proved reserves.

Other Regions

Approximately 2%, or 9.6 Bcfe, of the Company's proved reserves are in other regions, primarily in New Mexico and the Mid-Continent region. The Company also has a large acreage position in Mississippi and Louisiana in the Tuscaloosa Marine shale play. The Company owns interests in over 330 producing wells in over 15 fields within these region.

Company Address

Comstock Resources Inc

5300 Town And Country Blvd Ste 5
FRISCO   TX   75034-6892
P: +1972.6688800
F: +1972.6688812

Company Web Links