Comstock Resources Inc. announced the results of its first well drilled in its East Texas Eagle Ford Shale acreage in Burleson County, TX.
The Henry A #1H test well had a peak 24-hour average production rate of ~1,267 boe/d, with a ~80% oil cut. The well was drilled to a vertical depth of 9,514 feet, and had a 6,841 foot completed lateral which was stimulated with 17 stages and 10.2 million pounds of proppant. Comstock's second well drilled in Burleson County, the Mach A #1H, recently reached total depth and will be completed in July.
At the end of 2013, Comstock inked a deal with Ursa Resources for 21,000 net East Texas Eagle Ford acres in Burleson and Washington Counties for $66.5 million. In early May of 2014, the company announced it had acquired a 30% working interest in one producing well and approximately 9,000 net acres in Burleson County for $33.9 million from Ursa, and was increasing its capex budget to acquire additional interests in the county. In an official statement from June of 2014, Comstock claimed 30,400 net acres in Burleson County.
Comstock plans to spend approximately $510 million in 2014 on development and exploration projects in its South Texas and East Texas Eagle Ford acreage in 2014. The budget for drilling activity includes $284.0 million to drill sixty-five wells (46.0 net) in the Eagleville field in South Texas, $79.0 million to drill 10 Eagle Ford shale wells (9.2 net) on the Burleson County, Texas acreage. The budget also includes $76.0 million to complete 18 wells (13.3 net) in the Eagleville field that were drilled in 2013 and $38.0 million on facilities and other development activity.
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