Comstock Resources Inc. (NYSE: CRK) has added to its Haynesville Shale drilling inventory through an acreage swap.
The Frisco, Texas company said Jan. 25 it has completed the acreage swap with another operator. The value of the transaction wasn't disclosed.
The additional acreage expands Comstock's inventory of extended reach lateral locations in its core Haynesville Shale play in DeSoto Parish, La.
In the swap, Comstock will receive roughly 3,600 net acres in DeSoto Parish including four gross (3.5 net) wells currently producing about 1.1 million cubic feet of natural gas per day net to Comstock's interest.
The acreage swap will allow the company to increase the number of its Haynesville Shale drilling inventory by 39 locations, including 33 extended reach lateral locations (7,500- to 10,000 feet) and six one section lateral locations.
In consideration for the Haynesville Shale acreage, Comstock divested about 2,500 net acres in Atascosa County, Texas. The acreage exchanged included seven gross (5.3 net) producing wells which are producing about 110 barrels of oil per day net to Comstock's interest.
The swap is an equal exchange and will require no cash outflows from Comstock, the release said.
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