The importance of EBITDAX in Comstock Resources' Narrative
Are Comstock's Western Haynesville wells over-leveraged or under-leveraged?
Comstock’s announcement of its Olajuwon Pickens #1H well in Western Haynesville signals an engineering marvel in modern day exploration as it builds on the company’s established expertise in the Haynesville shale as shown in Figure 1, particularly in deep, high-pressure, high-temperature drilling with its 41 MM cubic feet of daily rate. The question is whether this exploration campaign is over-levered or under-levered.
EBITDAX enters the chat.
