Comstock's Best Eagle Ford Wells Came Online in McMullen County in 2013

In 2013, Comstock completed 63 gross (42 net) Eagle Ford Shale wells, including six wells (3.8 net) drilled in 2012. Completed Eagle Ford Shale wells had an average initial production (IP) rate of 780 boe/d.

Best Producing Comstock Wells - McMullen County, TX

Comstock's best wells in the Eagle Ford were drilled in McMullen County, TX. Average boe/d results for the six best wells are listed below:

Gloria Wheeler C #3H - 1,340 boe/d
Gloria Wheeler C #1H - 1,219 boe/d
Gloria Wheeler D #4H - 1,113 boe/d
Gloria Wheeler A #4H 1,066 boe/d
Gloria Wheeler D #3H 1,054 boe/d
Gloria Wheeler C #2H 1,025 boe/d

All six wells produced more than 1,000 boe/d.

Comstock Company-Wide Drilling and Expenditures

During 2013, Comstock spent $343.6 million on its continuing development and exploration activities and $137.0 million on acreage acquisition costs. Comstock drilled a total of 75 horizontal oil wells (51.6 net) and two horizontal natural gas wells (2.0 net) across the company's assets.

Of the $137 million spent on acquisitions, the company spent $66.5 million on 70% of Ursa Resources’ interest in Eagle Ford assets in Burleson and Washington counties. The deal included one well producing 433 boe/d and 32,000 gross (20,000 net) acres.

Comstock had ~6,300 b/d of crude oil production in 2013. That's up 29% from 2012 when production was ~4,900 b/d. Oil and gas sales increased by 7% in 2013 to $422.6 million from $394.6 million in 2012.

Comstock 2013 Highlights

63 gross (42 net) Eagle Ford Shale wells completed
75 horizontal oil wells (51.6 net) and two horizontal natural gas wells (2.0 net) drilled
Average Eagle Ford completed well had an IP rate of 780 boe/d
Highest producing well was drilled in McMullen County - Gloria Wheeler C #3H - 1,340 boe/d
Spent $343.6 million on its continuing development and exploration
Invested $137.0 million on acreage acquisitions
Crude oil sales volume grew to ~6,300 b/d