Comstock to exploit South Texas gas fields

By OGJ editors
HOUSTON, Nov. 26 -- Comstock Resources Inc., Frisco, Tex., acquiring South Texas gas producing properties with 58 bcf of proved developed reserves, said it may be able to wrest another 90 bcf of gas from the properties.

Comstock agreed to buy Dinn Ranch, Fandango, Rosita, and Rosita East fields in Duval and Zapata counties from Shell Exploration & Production Inc.'s SWEPI LP unit for $170 million, retroactive to Oct. 1. The properties have 70 producing wells on 11,500 gross acres producing 21.9 MMcfd of gas.

Comstock expects the transaction to close in December.

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