Comstock Resources Inc. (CRK) announced that it plans to spend approximately $385.0 million in 2010 for development and exploration activities. Comstock has budgeted to drill 59 wells in 2010 as compared to the 52 wells that it expects to drill this year.
The company's 2010 drilling program will be focused primarily on its acreage position in the Haynesville shale in North Louisiana. Comstock expects to add an additional drilling rig in the second quarter of 2010 to the six rigs, which the company is currently utilizing in its Haynesville shale drilling program.
Comstock's East Texas/North Louisiana operating region accounts for the largest portion of the 2010 budget with forecasted expenditures of $368.0 million. Comstock has budgeted to spend $12.0 million in its South Texas region in 2010. The remaining $5.0 million of expenditures in 2010 are budgeted for developmental activity on its other properties.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.