Comstock Resources
Comstock Resources is reducing activity (from 7 rigs to 5 rigs and from 3 frack crews to 2 frack crews) into the 2nd quarter of 2024 while at the same time the company is keeping their 2024 production guidance unchanged from the prior reporting quarter. The company continues to have success in Western Haynesville with their latest 4 wells having initial production rates of 35-38 MMcf/d.
Devon Energy
Alas, the lone exception to all producers with the company increasing full year 2024 production guidance for all commodities including a 4% increase in full year 2024 natural gas production guidance compared to the prior reporting quarter. Devon continues to experience efficiency gains and well outperformance. Efficiency gains in 2024 are still prevalent in the Lower 48, it’s just that it is being masked by production shut-ins and TIL deferrals.
SilverBow Resources
SilverBow is increasing their full year 2024 production guidance due to the acquisition of production from Chesapeake in the Eagle Ford. Minus the acquisition, production guidance is roughly unchanged from the prior reporting quarter. The company is also looking to 100 refracks in 2024.
National Fuel
National Fuel’s Seneca production arm lowered their full year 2024 production guidance from the prior reporting quarter by 1.4%. Seneca is voluntarily curtailing about 5 Bcf or 1% of their total current production. This equates to about 100 MMcf/d. The company may do further shut-ins during the 2nd quarter of 2024.
