SM Energy (SM) getting some LOVE
SM Energy (SM) getting some LOVE
SM Energy may be drawing more attention today because it is one of the Sweet 16 companies that get the most benefit from increasing condensate and NGL prices. Washington has approved the export of condensate.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: SM Energy (SM) getting some LOVE
SM has a large acreage block in East Texas near where CRK is drilling. This may explain why SM is getting more "love" today. - Dan
FRISCO, TEXAS, June 25, 2014 - Comstock Resources, Inc. ("Comstock" or the "Company") (CRK) announced today results of its first well drilled in its East Texas extension of the Eagle Ford Shale in Burleson County, Texas. The Henry A #1H well (100% working interest) was tested at a peak 24-hour average production rate of approximately 1,267 barrels of oil equivalent per day, comprised of 1,023 barrels of oil and 1.5 million cubic feet of natural gas and had a 6,841 foot completed lateral which was stimulated with 17 stages and 10.2 million pounds of proppant. This well was drilled to a vertical depth of 9,514 feet.
Comstock has 33,900 gross acres (30,400 net) prospective for oil in its Burleson County East Texas Eagle Ford Shale play. Comstock`s second well drilled in Burleson County, the Mach A #1H, recently reached total depth and will be completed in July. Locations have been built for the next two wells, the Flencher A #1H and the Curington A #1H. Comstock has plans to drill 10 gross (9.2 net) wells in 2014 on its acreage in this new play.
"We are very excited about the initial results from the Henry well and look forward to having an active development program on these properties in the future," stated M. Jay Allison, Chief Executive Officer of Comstock. "The initial results of our first East Texas Eagle Ford well combined with successful offset wells of other operators are confirming the potential of our newly acquired acreage."
FRISCO, TEXAS, June 25, 2014 - Comstock Resources, Inc. ("Comstock" or the "Company") (CRK) announced today results of its first well drilled in its East Texas extension of the Eagle Ford Shale in Burleson County, Texas. The Henry A #1H well (100% working interest) was tested at a peak 24-hour average production rate of approximately 1,267 barrels of oil equivalent per day, comprised of 1,023 barrels of oil and 1.5 million cubic feet of natural gas and had a 6,841 foot completed lateral which was stimulated with 17 stages and 10.2 million pounds of proppant. This well was drilled to a vertical depth of 9,514 feet.
Comstock has 33,900 gross acres (30,400 net) prospective for oil in its Burleson County East Texas Eagle Ford Shale play. Comstock`s second well drilled in Burleson County, the Mach A #1H, recently reached total depth and will be completed in July. Locations have been built for the next two wells, the Flencher A #1H and the Curington A #1H. Comstock has plans to drill 10 gross (9.2 net) wells in 2014 on its acreage in this new play.
"We are very excited about the initial results from the Henry well and look forward to having an active development program on these properties in the future," stated M. Jay Allison, Chief Executive Officer of Comstock. "The initial results of our first East Texas Eagle Ford well combined with successful offset wells of other operators are confirming the potential of our newly acquired acreage."
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: SM Energy (SM) getting some LOVE
SM has 215,000 acres in East Texas. One large block is in Washington County, just south of Burleson county. They also have large block in Walker county that appears to be on trend with the CRK wells. See Slide 16 of the presentation that SM made at IPAA a couple months ago.
This could be very good news for both companies.
This could be very good news for both companies.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group