Greta Droshky's questions to Comstock Resources Inc (CRK) leadership • Q3 2024
Question
Greta Droshky of Goldman Sachs requested more detail on the benefits of horseshoe wells, the potential for upside to the 64 identified locations, and the M&A outlook for the Haynesville.
Answer
COO Daniel Harrison detailed that horseshoe wells triple the IRR, halve the payout time, and add $5.5-6 million in PV-10 value compared to short laterals, with upside to the location count pending evaluation of the Bossier shale. Regarding M&A, management noted a focus on acquiring deep rights in the Western Haynesville and expects ongoing consolidation of private operators, which will likely accelerate with higher gas prices.