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Comstock and Range post strong reserves growth - US upstream week in brief

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Comstock and Range reported large year-over-year proved reserves increases of 47% and 22%, respectively. Improved financial strength, better drilling execution and M&A all contributed on varying levels. Range also released early test well results for its North Louisiana position that suggest a potential shift in drilling priorities. New north Louisiana data may have implications for growth-oriented private companies leveraged to the ArkLaTex. Jagged Peak goes public in a deal that fails to meet expectations, but why was the ultimate Permian valuation below some expectation? Is it a sign of peak metrics, or something more specific to their portfolio? New Permian pipe expansion projects are announced for the Cactus and BridgeTex systems, but we think they're not enough.

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Tables and charts

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    Jagged Peak Energy acreage and well permitsPermian oil supply versus pipeline takeaway capacityComstock and Range post strong reserves growth - US upstream week in brief: Table 1
    Comstock and Range post strong reserves growth - US upstream week in brief: Image 4Gas price forecast - Gulf Coast vs NortheastDiscount rate sensitivity – average sub-play breakeven ($/bbl) for leading operatorsComstock and Range post strong reserves growth - US upstream week in brief: Image 7Share price performance, crude oil & gas inventories, horizontal rig count statsComstock and Range post strong reserves growth - US upstream week in brief: Image 9Comstock and Range post strong reserves growth - US upstream week in brief: Image 10

What's included

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  • Document

    US upstream week in brief - Feb 8: Parsley acquires Midland player Double Eagle

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