all I want is a few more shares. Last month, Comstock officials told investors that it could get a 30% return on its new wells even with gas at $2.50 a million BTUs. The Frisco, Texas-based company plans to drill more wells in Louisiana’s Haynesville than it will in the oily Eagle Ford Shale in South Texas. Technology- Comstock Resources and Chesapeake Energy, among others, have enjoyed huge successes by extending the lateral portions of horizontal wells far beyond what has been done in the past, adding thousands of feet to their lengths. Supersizing fracking operations would allow companies to be profitable producers of shale gas even at the incredibly low prices exhibited in today’s marketplace – below $3 per million Btu (MMBtu). Comstock Resources says it can earn an 8 percent return on gas produced from these wells even when prices are at $2.50/MMBtu.
Liquidity- In March, we completed a $700 million bond offering which paid off our bank credit facility and added liquidity to our balance sheet. On July 22, we completed the sale of our East Texas Eagle Ford operations to a private firm for $115 million. Burleson County properties Security- We have no debt maturities until 2019 . Pro forma, Comstock has ~$233 million in cash on hand which provides it ample liquidity with which to manage going forward. Comstock no longer has a bank facility that's limited to a borrowing base. GAS hedged. In March, we completed a $700 million bond offering which paid off our bank credit facility and added liquidity to our balance sheet.
PRODUCTION Gas production was up 35% from the first quarter rate of 91 million per day. We expect our Haynesville production to continue growing in the next two quarters. For all of 2015, we estimate our gas production will average between 125 million cubic feet per day to 150 million cubic feet per day. HEDGED - We recently added some natural gas hedges at $3.20 per Mcf starting in July for the next 12 months . We will continue to safeguard our balance sheet and with the recent closed shale of our East Texas Eagle Ford properties we have $283 million of liquidity and have significantly reduced our spending for the rest of the year to conserve this liquidity. CC said- they are set for cash for the next year or so, despite the low energy prices. They have had enormous NG volumes with their new drilling methods in the Haynesvile(23 MMcfg./d. average for 5 wells). About 3/4's of the way through the call they said the production was steady after 90 days. That's a big deal, as normally, it falls well below then.
Their re-fracs are doing extremely well, going from 500M to 4MM on one well. They have thousands of drilling locations. It's almost like they are talking about a much larger company, with all the wells they could drill. They don't have pipeline take or pay issues, they get higher prices from being close to the end user. A lot of the NG will be used a short distance for all the new chemical and plastics plants being expanded or built in Texas or LA. The U.S. may have even more—and much cheaper to get—supplies of natural gas than anyone imagined.
In this day and age, we are fed so much information that dwelling on any thoughts for unnecessarily long can quickly make you feel miserable. Fundamentals, Technicals, world events, what Buffet does, how Cramer solves the dilemma? Did you ever wonder why people say that ignorance is bliss? Will more variables help? GROWTH OR VALUE AND MAYBE A LITTLE BOTTOM FEEDING IS IN ORDER TO THE OLD APITITE? worry IS A PROBLEM FOR ME AND I worry Myself about the problem – it’s the thinking that hurts us. Whats a 140 IQ doing on a board searching for answers. GOOD ONE. buy till it hurts.
We're gonna get high, high, high, the night is young She'll be my funky little mama gonna rock it and we've only just begun
will be the new GUMBY doll ((( oh no))))) ! GUMBY & BLOCKHEADS BOXED SET is on sale now at your nearest Syrian sand box. The OASIS will never be the same with out that little BEOTCH thinking he is a leader of small boys club in RUSSIA.
Just think JEB would be the third chance for the BUSHES to increase war spending to the moon?????
GOOD thing we have McCain and his pack of clowns ready , able and willing to fight about every thing. tRUMP is just as bad wanting people to fear him+ because he is (( rich )))). ((( stupid))) and a national gambler of our wellbeing.
*** Under 50 oil is a unsustainable price because it destroys too much supply and creates too much extra demand, maintains Mike Breard, an energy sector analyst at Hodges Capital Management. "Producers will stop drilling. People will buy more. The idea that oil is going to stay in the $40 range for three to four years is utter nonsense," says Breard. Opec calls for 80$$ Same as OPEC……… Economy needs higher oil. RUSSIA and the ARABS are going NUTS!!!!!!!!!!!!!! The civil unrest in the Middle EAST is in part fuelled by cheap oil. Russia is tearing itself apart and being hostile understanding America has OILLLLLLLLLLL and a lot of it. Technologies come about as the OPEC slit its own throat.
did you push your mom over the cliff? DID you want wars every year like that McCain dud ? Ever 6 months he tries to get us in a war. LYBIA
We are a land of immigrants. DONT you have a pipeline to build with the cheapest oil/gas prices in a decade. You all are a bunch COCH brothers puppets.
serious crime is when the tea party pushes people over a cliff. A crime is to keep needed medical attention from poor woman. The crime is BOHNER not going to JAIL instead of just lying and being a terrorist. Stopping the government at any cost was wrong. Why don't you explain inflation to me as your party the decade has got stimulus, immigration, bailouts, DOD FRANK, Banking rules , Foreign affairs, and the worst part is doing nothing for 8 years. WHY cover you stupid parties messes up with immigration. IS THAT and free pipelines to billionaires all you have. TRUMP and BOHNER were looking for birth certificates for years. tRUMP is a clown as you are hte board fool.