Comstock Resources will spend $394 million of the company’s $450 million 2014 budget in the Eagle Ford.
The company will spend $264 million drilling 59 gross (40.2 net) wells in the South Texas Eagle Ford, $80 million completing wells in the South Texas area, and $50 million to drill 10 gross (5.6 net) East Texas Eagle Ford wells (Burleson County) for a total of $394 million.
The East Texas Eagle Ford acreage located in Burleson County was acquired from Ursa Resources in late November 2013.
Outside of the company’s drilling budget in the Eagle Ford, Comstock will spend $27 million in the Tuscaloosa Marine Shale and $29 million on facilities, recompletions, other capital projects.
As a result of budget allocations, oil production is expected to grow to 11,200-12,600 b/d and natural gas production is expected to fall to ~115 mmcfd.
Read the company’s full press release at comstockresources.com