Company: CRK
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024783
Chunk: 42

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 42
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 exports and the petrochemical industry due to its geographic proximity. We believe we are well positioned for future growth due to the following:

•Premier natural gas resource. The Haynesville and Bossier shales in our legacy area has been substantially delineated since commercial operations started in 2008 and the consistent and successful results of our first eighteen wells in our Western Haynesville area indicate substantial upside to our extension of the Haynesville and Bossier shale plays. We believe that these shale plays represent some of the most economic natural gas drilling opportunities in North America.

•Management and operating team with extensive experience in developing the Haynesville and Bossier shales. We were among the first exploration and production companies to effectively apply horizontal drilling techniques in the Haynesville and Bossier shales beginning in 2007. In 2015, we restarted a drilling program in the Haynesville and Bossier shales utilizing enhanced completion well designs that have significantly improved the economics of these wells. In 2022, we started exploratory drilling in the Western Haynesville area and now have eighteen successful wells turned to sales through the end of 2024. We have also drilled some of the longest lateral wells in the basin. We successfully drilled 31 wells with laterals of 15,000 feet or greater from 2021 through 2024.

•Attractive economic returns. The Haynesville and Bossier shales offer highly economic drilling opportunities through application of advanced drilling and completion technologies, including the use of longer laterals, horseshoe laterals and high intensity fracture stimulation using tighter frac stages and higher proppant loading. Our Western Haynesville wells are some of the deepest horizontal wells in a high pressure and high temperature shale in the industry. Our management and operating teams are instrumental in developing and optimizing some of the most effective completion techniques in the Haynesville and Bossier shales and such completion techniques have resulted in a substantial improvement in initial production rates and recoverable reserves, which has resulted in some of the highest single well rates of return when compared to results from other natural gas basins in North America.

•Proximity to premium natural gas markets. Our natural gas production benefits from the strong regional Gulf Coast demand growth driven by a substantial increase in LNG exports, exports to Mexico and new or expanded petrochemical facilities. Producers, such as us, with access to the Gulf Coast natural gas markets are receiving higher net realized prices than most 

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COMSTOCK RESOURCES, INC.

producers