Comstock Resources
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Address
5300 Town and Country Blvd
Suite 500
Frisco
Texas 75034
Tel 972 668 8800
Fax 972 668 8812
Web http://www.comstockresources.com
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Capex
Comstock Resources, Inc. plans to spend $526 million in 2008 for development and exploration activities. The 2008 budget is comprised of $276 million to be spent on its onshore properties and $250 million to be spent by Bois d'Arc Energy, Inc. for its offshore Gulf of Mexico drilling program.
Onshore development projects comprise $239 million of the 2008 budget with $37 million of the onshore budget allocated to exploration activities. Comstock expects to drill approximately 116 (78.3 net) onshore wells in 2008 including 106 (73.2 net) development wells and ten (5.1 net) exploratory wells. Comstock's East Texas/North Louisiana operating region accounts for the largest portion of the 2008 budget with forecasted expenditures of $149 million. Comstock has budgeted to drill 80 (53.9 net) development wells in this region in 2008, which includes seven Cotton Valley horizontal wells. Comstock will drill fewer wells in this region in 2008 as compared to 2007 but will focus on higher return opportunities in 2008, including the seven horizontal wells and drilling in its more prolific Logansport and Terryville fields. Comstock expects to spend $122 million in its South Texas region to drill 30 (22.7 net) wells in 2008. Included in the South Texas totals are 20 (17.6 net) development wells and ten (5.1 net) exploration wells. The remaining $5 million will be spent on Comstock's onshore properties in its other regions.
Bois d'Arc has budgeted $139 million to drill 21 (18.5 net) offshore wells in 2008. Bois d'Arc has budgeted an additional $92 million for completion and facilities costs related to these wells. Eleven of the wells in the 2008 drilling program will be drilled deeper than 15,000 feet to test high potential exploration prospects. In addition Bois d'Arc plans to spend $19 million on acquiring seismic data and acreage.Production
Comstock's production in the fourth quarter of 2007 increased 26% to 22.9 billion cubic feet equivalent of natural gas ("Bcfe") as compared to production of 18.2 Bcfe in the fourth quarter of 2006. Comstock's onshore production increased 32% and offshore production increased 20% over the fourth quarter of 2006.
Production in the fourth quarter of 2006 totaled 18.2 Bcf equivalent of natural gas (Bcfe), a 33% increase from 2005's pro forma consolidated production of 13.6 Bcfe. For the year ended December 31, 2006 production totaled 67.3 Bcfe, an increase of 22%, as compared to pro forma consolidated production in 2005 of 55.0 Bcfe.
Reserves
Who's Who
M. Jay Allison
President and Chief Executive Officer
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Roland O. Burns
Senior Vice President, Chief Financial Officer, Treasurer and Secretary
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D. Dale Gillette
Vice President of Land and General Counsel
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Mack D. Good
Chief Operating Officer
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Stephen E. Neukom
Vice President of Marketing
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Daniel K. Presley
Vice President of Accounting and Controller
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Richard D. Singer
Vice President of Financial Reporting
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Offices
United States
Head Office
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