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Comstock Resources Closes Haynesville Shale Acquisition

01/08/2018

Comstock Resources, Inc. has closed the previously announced acquisition of North Louisiana properties from Enduro Resource Partners LLC after the Final Sales Order was approved by the United States Bankruptcy Court for the District of Delaware.  The North Louisiana properties consist of approximately 21,000 gross acres (9,900 net) primarily in Caddo and DeSoto Parishes in Louisiana and include 120 (26.2 net) producing natural gas wells, 49 (14.7 net) of which produce from the Haynesville shale. The final adjusted purchase price was $37 million which included costs of four (1.1 net) recently completed Haynesville shale wells incurred after the effective date of the sale of January 1, 2018.

The acquired properties are producing approximately 26 million cubic feet per day of natural gas and have estimated proved reserves of 288 Bcfe. Comstock has identified 112 (31.0 net) potential drilling locations on the acquired acreage, 21 (17.9 net) of the future locations would be operated by Comstock.

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