Haynesville Shale Operator Awards Gas Frac Fleet Contract
Comstock Resources, Inc. (NYSE: CRK) reported Tuesday that it has contracted BJ Energy Services to deploy its next-generation, 100% natural gas-fueled hydraulic fracturing fleet early next year.
The contract calls for BJ to mobilize its “TITAN” frac fleet in Comstock’s Haynesville Shale development program in early 2022, Comstock pointed out in a written statement emailed to Rigzone. Comstock added the three-year deal locks in current completion rates and provides other cost savings.
“We have taken considerable time to evaluate BJ’s next-generation technology,” Comstock Chief Operating Officer Dan Harrison remarked in a written statement from BJ. “The TITAN solution will provide a substantial contribution toward Comstock’s CO2e and methane reduction goals while also improving our economics. We are thrilled to be working with BJ on this initiative.”
According to Comstock, using a natural gas-powered frac fleet will lead to reduced operating costs, better mobility, smaller well pad sites, and improved operational reliability. Frac fleets typically burn diesel fuel.
“BJ Energy and Comstock have a longstanding relationship and we are excited about this next chapter of innovation,” stated Caleb Barclay, BJ’s chief operating officer. “This latest development further demonstrates BJ’s ongoing commitment to the Haynesville.”
Matt Johnson, principal of Primary Vision, LLC, told Rigzone the Comstock-BJ deal "makes a lot of sense" given Comstock's strong supplier relationship with BJ Energy – and its precursor BJ Services.
"Comstock gets static pricing and BJ Energy gets the chance to start with a clean slate," explained Johnson, whose company monitors the upstream industry's health via its weekly "Frac Insights" email newsletter.
Comstock’s operations are concentrated in the Haynesville play in North Louisiana and East Texas. The company’s website states that its Haynesville acreage boasts nearly 2,000 drilling locations. It also points out the firm’s oil and gas properties hold an estimated 5.4 trillion cubic feet equivalent of proved reserves (93% natural gas and 7% oil).
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