Comstock Resources Announces 109 Percent Growth in Proved Oil and Gas Reserves and Oil and Gas Production in 2018

Energy Investing

Comstock Resources announced today that its proved oil and natural gas reserves as of December 31, 2018 were estimated by its independent petroleum engineering firm at 23.6 million barrels of crude oil.

Comstock Resources (NYSE:CRK) announced today that its proved oil and natural gas reserves as of December 31, 2018 were estimated by its independent petroleum engineering firm at 23.6 million barrels of crude oil and 2,283 billion cubic feet (“Bcf”) of natural gas or 2,424 billion cubic feet of natural gas equivalent (“Bcfe”) as compared to total proved reserves of 1,162 Bcfe as of December 31, 2017.

As stated in the press release:

Comstock produced 1.8 million barrels of oil and 100 Bcf of natural gas or 111 Bcfe in 2018 including production from the Bakken shale properties commencing on August 14, 2018. In the fourth quarter of 2018, Comstock’s production averaged 10,587 barrels of oil per day and 336 million cubic feet (“MMcf”) of natural gas per day, or 400 million cubic feet equivalent (“MMcfe”) per day. The fourth quarter of 2018 production increased 57% as compared to the fourth quarter of 2017.

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Oil and Gas Investing