Welcome to our dedicated page for Comstock Resources news (Ticker: CRK), a resource for investors and traders seeking the latest updates and insights on Comstock Resources stock.
Comstock Resources, Inc. (symbol: CRK), headquartered in Frisco, Texas, is an independent energy company focused on the acquisition, development, production, and exploration of oil and natural gas. The company operates primarily in the Haynesville shale, a natural gas basin in East Texas and North Louisiana known for its superior economics and proximity to Gulf Coast markets.
The core business of Comstock Resources revolves around developing tight gas sands, shale gas plays, and conventional exploration. The company's operations are concentrated in Louisiana and Texas, where they engage in the full spectrum of oil and gas activities, from acquisition to production.
One of the notable achievements of Comstock Resources is its active participation in the exploration and production of North American natural gas and oil. The company's strategic focus on the Haynesville shale allows it to capitalize on the favorable market conditions and geographical advantages of the region.
Recent projects and ongoing activities include the development of new drilling sites and the enhancement of existing wells to optimize production efficiency. The company's financial health is robust, supported by consistent performance and strategic investments in technology and infrastructure.
Comstock Resources maintains strong partnerships and collaborations to further its business objectives. This includes alliances with various service providers and technology companies to improve operational efficiency and reduce environmental impact.
For the latest updates, Comstock Resources regularly holds conference calls to discuss quarterly results and future plans. These calls are accessible via telephonic registration and webcast links provided by the company. For instance, the third quarter 2023 conference call replay is available until October 2024, and the fourth quarter 2023 call replay is accessible until February 2025.
By focusing on growth and leveraging its strategic assets, Comstock Resources aims to continue its upward trajectory in the energy sector, providing significant value to its shareholders and contributing positively to the industry.
Comstock Resources reported financial results for Q3 2024, showing continued impact from weak natural gas prices. Natural gas and oil sales reached $305 million, including $51.4 million in hedging gains. The company reported operating cash flow of $152 million ($0.52 per diluted share) and an adjusted net loss of $48.5 million ($0.17 per share). Production increased by 2%, with realized natural gas prices averaging $1.90 per Mcf before hedging and $2.28 after hedging. The company completed eight operated wells with average initial production of 21 MMcf per day, including a successful first horseshoe Haynesville well producing 31 MMcf per day. Western Haynesville expansion continues with 453,881 net acres.
Comstock Resources (NYSE:CRK) has announced the date for its third quarter 2024 earnings release and conference call. The company plans to release its Q3 2024 results on October 30, 2024 after market close. The quarterly conference call is scheduled for October 31, 2024, at 10:00 a.m. CT.
Interested parties can participate in the conference call telephonically by registering at the provided link. The call will also be broadcast live in listen-only mode via a webcast link. A replay of the conference call will be available for twelve months starting at 1:00 p.m. CT on October 31, 2024, accessible through the same webcast link.
Comstock Resources (NYSE: CRK) reported its Q2 2024 financial results, highlighting the impact of weak natural gas prices. Key points include:
- Natural gas and oil sales: $278 million (including $60.6 million in hedging gains)
- Operating cash flow: $118 million ($0.41 per diluted share)
- Adjusted EBITDAX: $167 million
- Adjusted net loss: $58.2 million ($0.20 per share)
- Enhanced liquidity with $400 million, 6.75% senior notes issuance
- 15 operated Haynesville/Bossier shale wells turned to sales, averaging 21 MMcf per day initial production
- Realized gas price: $1.65 per Mcf without hedging, $2.12 per Mcf after hedging
- Production cost: $0.84 per Mcfe
- Unhedged operating margin: 50% (61% after hedging)
Comstock Resources (NYSE: CRK) announced it will release its second quarter 2024 results on July 30, 2024, after market close. A conference call to discuss these results is scheduled for July 31, 2024, at 10:00 a.m. CT. Participants can register to join the call telephonically to receive a dial-in number and PIN. The call will be broadcast live in listen-only mode via the provided webcast link. A replay will be available from 1:00 p.m. CT on July 31, 2024, for a period of twelve months.
Comstock Resources, Inc. reported financial and operating results for the first quarter of 2024. Natural gas prices affected results, with $336 million in sales and $182 million in operating cash flow. Adjusted EBITDAX was $230 million. The company added liquidity with an equity offering and saw success in the Haynesville shale drilling program. Production costs per Mcfe were $0.76. Drilling results included 16 operated wells turned to sales with an average initial production of 25 MMcf per day. Comstock also announced the reaffirmation of its borrowing base.
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