Can anyone here help update us on the progress of this gas well? Last I heard, it spudded 1/28/24. Thank you.
Looks like the rig is still on site. Not finished yet. No frac listed on FracFocus yet.
Yes cactus 139 is still onsite. After the Powell is TD. I understand is going to drill Huoge. The plan was and I guess still is after both wells are completely drilled. Frac is to be in September on both. Have to see how it plays out.
Drilling was completed in mid-April. Here’s a link to the directional survey report, dated April 22:
https://webapps.rrc.state.tx.us/dpimages/img/7700000-7799999//PR0007722581_0001.pdf
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Yes, the Hogue MMP 1H is being drilled from the same pad as the BD Powell. Spud date hasn’t been posted on the RRC site, but I would assume the rig is drilling the Hogue well now.
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Thank you all, I appreciate your help.
Does anyone have any updated info on this well or the Houge well? I saw directional surveys for both, but it doesn’t look like anything has been reported to the rrc.
You are correct…drilling has been completed on both, directional surveys have been filed, but nothing has been filed regarding completion date or production.
I think I recall from their last earnings call that they have “paused” one of their frac crews, so that may be slowing things down. Comstock also reported that they now have the ability to transport gas to a storage facility near the Bethel plant in Anderson County. They may choose to move gas there, store it, and wait for higher prices before selling it.
thanks again for the update. when might one reasonably expect to receive division orders for these wells?
Not sure I understand why it would be helpful to store the gas at a separate storage facility vs just leaving it stored in the ground? Makes me think they must envision an arbitrage opportunity between what they pay the mineral owner now and what they sell the gas for later?
Mineral owners don’t get paid until the gas is sold, so it’s beneficial to wait for higher prices.
It’s likely that only a portion of the gas produced will be stored…the rest will be sold immediately so that the lease area will be held by production. Comstock has leased a huge position, and I’m sure they would like to avoid paying lease extension money to the extent they can.
Many leases have shut-in royalty payments on gas, seems like this would be cheaper than paying to store the gas. Do you have a link to where Comstock mentioned storing gas?
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