Comstock Resources

Comstock Resources, Inc. engages in the acquisition, development, and exploration of oil and natural gas. The firm operations concentrated in the Haynesville shale, a premier natural gas basin located in East Texas. The company was founded in 1919 and is headquartered in Frisco, TX.

Earnings data Q1 2021

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Earnings data Q3 2023

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Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Comstock Resources excels in Q4, eyes growth in Haynesville

Comstock Resources delivered robust financial performance in Q4 2022, driven by increased production and strategic balance sheet improvements. The company's focus on natural gas in the Haynesville region, coupled with operational efficiency, positions it well for future growth despite inflation uncertainties and operational challenges.

Comstock Resources reports Q1 growth amidst LNG market focus

Comstock Resources reported positive production growth and earnings in Q1 2023 despite challenges from low natural gas prices and rising operating costs.
The company's strategic focus on LNG markets, operational efficiencies, and environmental responsibility positions it for future growth and sustainability.
Analyst inquiries highlighted the need for effective financial and operational management to navigate market uncertainties and optimize performance.
Overall, Comstock Resources remains optimistic about its outlook for 2023, emphasizing responsible capital stewardship and long-term partnerships.

Comstock Resources reports solid Q2 performance amidst natural gas challenges

Comstock Resources had a solid performance in Q2 2023, with a focus on increasing natural gas production and optimizing operational efficiency. Despite challenges from market conditions, they are strategically positioned to capitalize on future natural gas demand and LNG export growth.

Comstock Resources posts profitable Q3, eyes growth amid operational challenges

Comstock Resources delivered a profitable Q3 with strong financial performance, operational growth, and efficient cost management, positioning the company for future success.
Strategic partnerships, focus on infrastructure development, and prudent financial management underscore Comstock's commitment to sustainable growth and stakeholder value.
Challenges in capital management, legacy production balancing, and debt control require careful navigation, while opportunities in expansion, acreage optimization, and operational enhancements pave the way for continued success.

Comstock Resources reports robust Q4 earnings amidst market challenges

Comstock Resources delivered solid financial results, implemented strategic measures to safeguard its financial position, and emphasized operational efficiency. Challenges include production timing alignment and leverage ratio monitoring, while opportunities exist in cost reductions and operational optimization.

Comstock Resources reports resilient Q1 performance amid market challenges

Comstock Resources delivered a solid performance in Q1 2024, showcasing financial strength and operational resilience amidst market challenges.
The company's strategic investments in asset acquisitions, drilling efficiencies, and cost management reflect a commitment to long-term value creation and growth.
With a focus on maximizing efficiencies, monitoring market conditions, and leveraging opportunities in the LNG market, Comstock Resources is poised for sustainable success.

Comstock Resources reports strong Q2 performance and eyes gas price appreciation for growth

Comstock Resources showcased strong financials and operational successes in Q2 2024, emphasizing their focus on the Western Haynesville play. While managing debt levels and monitoring gas prices pose challenges, opportunities lie in gas price appreciation, production growth, and LNG demand.

Comstock Resources optimizes operations in Western Haynesville for growth

Comstock Resources remains focused on maximizing acreage potential, optimizing operations, and adapting to market conditions for future growth.
Despite challenges in natural gas prices and operational complexities, the company is on the right path for growth in natural gas demand.
The earnings call highlighted strategic initiatives, successful drilling results, and financial support, positioning Comstock for future profitability.

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Its majority owner, Jerry Jones, has injected more than $100 million into the company. This strengthens his already considerable Comstock equity holding.

Why Comstock Resources Stock Scored a Touchdown This Week

FRISCO, TX, March 20, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) announces that its majority shareholder, Jerry Jones, has agreed to make an additional $100,450,000 equity investment in the Company through two entities he controls. The Jones entities will acquire 12,500,000 shares of common stock in the private placement at a price of $8.036 per share, which represents the average of the closing prices for the five trading days ended March 20, 2024. Closing of the transaction is subject to customary closing conditions. Following the equity investment, Jerry Jones will own approximately 67% of the Company's common shares outstanding, up from 65% before this equity investment.

COMSTOCK RESOURCES, INC. ANNOUNCES $100.5 MILLION INVESTMENT BY MAJORITY SHAREHOLDER

Comstock Resources operates in a "swing basin" with low location costs, giving them a competitive advantage over latecomers to the Haynesville Basin. The rig count in the Haynesville dry gas production is declining. The rig count will continue to decline until natural gas prices recover.

Comstock Resources: Ace In The Hole

This natural gas producer recently suspended its dividend.

Bear of the Day: Comstock Resources (CRK)

Comstock Resources, Inc. (CRK) Q4 2023 Earnings Call Transcript

Comstock Resources: Dropping Rigs And Suspending Dividend To Reduce Cash Burn

Although the revenue and EPS for Comstock (CRK) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Comstock (CRK) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

Comstock Resources (CRK) came out with quarterly earnings of $0.10 per share, missing the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $1.05 per share a year ago.

Comstock Resources (CRK) Q4 Earnings and Revenues Miss Estimates

FRISCO, TX, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) today reported financial and operating results for the quarter and year ended December 31, 2023.

COMSTOCK RESOURCES, INC. REPORTS FOURTH QUARTER 2023 FINANCIAL AND OPERATING RESULTS

FRISCO, TX, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) plans to release fourth quarter 2023 results on February 13, 2024 after the market closes and host its quarterly conference call at 10:00 a.m. CT on February 14, 2024 to discuss the third quarter results.

COMSTOCK RESOURCES, INC. ANNOUNCES FOURTH QUARTER 2023 EARNINGS DATE AND CONFERENCE CALL INFORMATION

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Jerry Jones owns enough stock to control Comstock Resources. Demand for natural gas is still growing, as indicated by bullish forecasts from gas handling equipment suppliers. Supply growth is moderating and storage levels are comfortably below peak levels, suggesting a potential adjustment in natural gas prices.

Comstock Resources: Betting On Jerry Jones

Haynesville pure play E&P companies face challenges in 2024 due to falling natural gas prices, rising supply and stable demand. Comstock will see cash burn through 2024 as a result of lower natural gas prices and high infrastructure & drilling costs in the Western Haynesville. Production data shows high IP and decline rates in the Western Haynesville.

Comstock Resources: The Race Is On

Comstock Resources stock is down 20% due to warmer weather and high gas storage levels. New LNG plants set to open in 2024-2026 will create new demand for gas. The future investment case for Comstock Resources depends on higher gas prices and potential catalysts in the Haynesville region.

Comstock Resources: When The Market Gives You Lemons

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The final edition of my natural gas export playbook has analyzed two companies that didn't make the cut but still poses opportunity to capitalize on LNG exports. Comstock Resources and USA Compression receive an honorable mention for potential growth in the natural gas market. Both companies are small in size that have the ability to outperform if their weaknesses can be properly managed.

The Dividend Investor's Natural Gas Export Playbook - Part 5

Comstock Resources, Inc. (NYSE:CRK ) Q3 2023 Earnings Conference Call October 31, 2023 11:00 AM ET Company Participants Miles Allison - Chairman & CEO Roland Burns - President, CFO, Secretary & Director Daniel Harrison - COO Ron Mills - VP, Finance & IR Conference Call Participants Derrick Whitfield - Stifel Charles Meade - Johnson Rice & Company Jacob Roberts - TPH & Company Bertrand Donnes - Truist Securities Phillips Johnston - Capital One Securities Fernando Zavala - Pickering Energy Partners Leo Mariani - ROTH MKM Partners Gregg Brody - Bank of America Merrill Lynch Paul Diamond - Citigroup Noel Parks - Tuohy Brothers Investment Research Operator Good day, and thank you for standing by, and welcome to the Q3 2023 Comstock Resources, Inc. Earnings Conference Call. [Operator Instructions].

Comstock Resources, Inc. (CRK) Q3 2023 Earnings Call Transcript

The headline numbers for Comstock (CRK) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Comstock (CRK) Q3 Earnings: A Look at Key Metrics

FRISCO, TX, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) today reported financial and operating results for the quarter ended September 30, 2023.

COMSTOCK RESOURCES, INC. REPORTS THIRD QUARTER 2023 FINANCIAL AND OPERATING RESULTS

Comstock Resources has low production costs, but there are other factors to consider when investing in the company. Operating costs for the company are among the best in the industry. But drilling and completion costs more than offset that advantage. Competitors with higher production volume or higher value production may be more profitable in the long run.

Comstock Resources: Swing Producer

Comstock is now projected to end up with a modest amount of positive cash flow in 2024 after dividends. CRK's value is estimated at $12.75 at long-term $3.75 NYMEX gas and $14.75 at long-term $4.00 NYMEX gas. Overall, natural gas supply growth has been relatively flat and may start declining.

Comstock Resources: Upside Likely Requires $4 Long-Term Natural Gas

Comstock is facing tough comps in the natural gas market, but new LNG export capacity in 2H24 is expected to improve domestic gas pricing. The company has a low cost of production and hedges 40% of its book, providing stability in a challenging market. Comstock's strategic positioning in the Haynesville/Bossier basin along with its pipeline will realize value as more LNG export capacity comes online.

Comstock Has A Strategic Advantage For Filling LNG Export Capacity

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FRISCO, TX, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) plans to release third quarter 2023 results on October 30, 2023 after the market closes and host its quarterly conference call at 10:00 a.m. CT on October 31, 2023 to discuss the third quarter results.

COMSTOCK RESOURCES, INC. ANNOUNCES THIRD QUARTER 2023 EARNINGS DATE AND CONFERENCE CALL INFORMATION

Comstock Resources is a natural gas exploration and production company focused on the Haynesville shale region. The company's breakeven costs are low, with all-in break-even prices at $2.17 per MMbtu in 1H 2023. Natural gas prices are expected to have a floor around $3 per MMbtu, providing potential for stronger margins in the future.

News for Comstock Resources Stock (CRK)