Comstock Resources’ Eagle Ford production was down in the fourth quarter due to shut-ins related to pad drilling. Company wide oil production fell from 7,200 b/d in Q3 to 6,100 b/d in the Q4. Most (750 b/d) was lost in the Eagle Ford as the company shut in wells to drill and complete more wells on a producing pad. Pad drilling requires shut-ins when there are adjacent wells producing. Shutting the producing wells in helps lower the risk of reservoir damage and improves the effectiveness of the frack job.
In 2012, Comstock drilled 30 gross (20.5 net) horizontal wells. The company also completed 28 wells and brought them to production at an average rate of 647 boe/d. The six most recent wells the company completed came online at an average rate of 682 boe/d at a 16/64ths choke. Average 30-day IPs for wells brought online since February of 2012 were 542 boe/d. At year-end, 6 gross (3.8 net) wells were waiting to be completed.
In 2013, Comstock plans to drill 42 gross (27.3 net) Eagle Ford wells. The company also continues to drive down costs. Current well costs average just $8.2 million, a 40% decrease from 2010.