The properties in south Texas include 67 producing wells which are currently producing 22 million cubic feet of natural gas equivalent per day. Comstock estimates that the acquired properties have net proved reserves of approximately 57 billion cubic feet (bcf) of natural gas. It claims that all of the proved reserves are in the developed category.
In addition to the proved reserves, Comstock estimates that the properties could yield an additional 90 bcf of resources potential from future exploitation.
The acquisition was funded by borrowings under Comstock’s bank credit facility.
