18.12.2007 17:30:00
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Comstock Resources, Inc. Reports Results of First Horizontal Cotton Valley Well
FRISCO, Texas, Dec. 18 /PRNewswire-FirstCall/ -- Comstock Resources, Inc. ("Comstock" or the "Company") today announced the results of its first horizontal Cotton Valley well drilled in the Waskom field in Harrison County, Texas. The Bell #11A-H well was drilled to a total vertical depth of 9,490 feet with a 2,548 foot horizontal leg drilled through the upper and lower Taylor Cotton Valley Sands. The Bell #11-A-H was successfully completed with a seven stage frac. The well was tested at an initial production rate of 8.4 million cubic feet of natural gas per day with flowing casing pressure of 950 pounds per square inch. The well is expected to cost approximately $4.8 million. Comstock has a 69% working interest and a 53% net revenue interest in this successful well.
"We are very pleased with the results of our first horizontal well in our Cotton Valley trend acreage. We currently plan to drill seven horizontal wells in 2008 in our East Texas/North Louisiana region, including five additional horizontal wells in the Waskom field. We anticipate our horizontal drilling program will significantly enhance the economic profile of our East Texas drilling program in 2008 and future years," stated M. Jay Allison, President and Chief Executive Officer of Comstock.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct.
Comstock Resources, Inc. is a growing independent energy company based in Frisco, Texas and is engaged in oil and gas acquisitions, exploration and development primarily in Louisiana and Texas and in the Gulf of Mexico through its ownership in Bois d'Arc Energy, Inc. . The Company's stock is traded on the New York Stock Exchange under the symbol CRK.
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