(Bloomberg) -- Comstock Resources Inc., the shale exploration company controlled by Dallas Cowboys owner Jerry Jones, plans to increase capital spending by 23% this year amid booming demand and prices for natural gas. 

The Frisco, Texas-based driller set its full-year 2022 budget at $750 million to $800 million, compared with $628 million a year earlier, according to a statement on Tuesday. The spending estimate exceeded every analyst’s estimate compiled by Bloomberg.

Comstock said it will focus on drilling in the Haynesville and Bossier shale formations in East Texas and Louisiana. Comstock expects to drill 67 wells and frack 69 horizontal wells using five to seven rigs in 2022. The shares climbed 1.4% in the minutes after the statement was released.

The company also posted an adjusted fourth-quarter profit of 37 cents a share that was short of expectations.  


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