SOUTHWEST MISSISSIPPI — Comstock Resources is leasing 53,000 acres in Louisiana and Mississippi to look for oil.
The company, based in Frisco, Texas, is paying $54.5 million for the leases. They cover parts of the Tuscaloosa Marine Shale formation in Mississippi’s Wilkinson and Amite counties and Louisiana’s East Feliciana and St. Helena parishes. Comstock says it will complete the purchase before year’s end.
Comstock says it hopes to expand operations beyond the Eagle Ford shale in south Texas, and says it plans to lease more land in the Tuscaloosa Marine Shale and elsewhere.
Drillers say hydraulic fracturing can extract oil that’s been too hard to produce before, but companies are still learning how to drill economically in the region.
Goodrich Petroleum Corp. and Encana Corp. lease larger areas in the Tuscaloosa Marine Shale.