Comstock Resources released its Q4 earnings report and confirmed their spending plan for 2015.
Comstock’s loss of $55.1 million in the last three months of the year are in contrast to a record 86% increase growth in oil production. Production in 2014 was at 4.3 million barrels, compared to 2.3 million barrels produced in 2013.
Looking to the new year, Comstock will be scaling back its drilling program due to the significant drop in oil prices.
2014 Eagle Ford highlights:
- Successful drilling program in South Texas Eagle Ford shale drove oil growth in 2014
- 68 out of 68 wells drilled were successful
- Placed 91 (61.3 net) new Eagle Ford shale wells on production
- Four wells drilled in 2014 to be completed in 2015
Read more at crxfrisco.com