COMSTOCK RESOURCES, INC. PARTNERS WITH MiQ TO CERTIFY NATURAL GAS PRODUCTION

Rhea-AI Summary

Comstock Resources (NYSE: CRK) has partnered with MiQ to certify its natural gas production in North Louisiana and East Texas, aiming for MiQ certification by mid-2022. This partnership emphasizes Comstock's commitment to environmental standards, with current production of about 2.0 billion cubic feet of natural gas per day. The company has reduced GHG emissions intensity by 38% and methane emissions intensity by 16% over the past three years. Responsible Energy Solutions, LLC will be the third-party auditor for this certification process, further enhancing Comstock's focus on sustainability.

Positive

• Partnership with MiQ showcases commitment to environmental standards.
• Goal to achieve MiQ certified natural gas status by mid-2022.
• Production of approximately 2.0 billion cubic feet of natural gas per day.
• Reduced GHG emissions intensity by 38% over the last three years.
• Reduced methane emissions intensity by 16% while increasing production by 4.5 times.

Negative

• None.

FRISCO, TX, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) today announced a partnership with MiQ to independently certify its natural gas production in North Louisiana and East Texas.

Comstock will use the MiQ Standard, a framework that assesses and grades methane emissions intensity, enhanced monitoring technology deployment and operating practices that promote a culture of emissions management and continuous improvement, for its facilities in North Louisiana and East Texas, which currently produce approximately 2.0 billion cubic feet per day of natural gas.

The partnership highlights Comstock's ongoing commitment to produce natural gas under strict environmental standards and deliver differentiated, responsibly sourced gas based on methane intensity to both domestic and international markets. Comstock's goal is to achieve the MiQ certified natural gas status in the first half of 2022.

Comstock has engaged Responsible Energy Solutions, LLC as the third-party auditor for the certification process which will follow the MiQ Standard.

M. Jay Allison, Comstock's Chairman and Chief Executive Officer, commented: "As a leading natural gas producer in the Haynesville shale, Comstock is committed to environmental stewardship. Over the past three years, we have lowered our GHG emission intensity by 38% and our methane emission intensity by 16%, while growing our production by approximately 4.5 times over the same period. Our partnership with MiQ to certify our natural gas in accordance with the highest environmental standards demonstrates our commitment."

MiQ is a not-for-profit partnership between RMI, formerly the Rocky Mountain Institute, and global sustainability consultancy SYSTEMIQ, which is pioneering a market-based approach to rapidly reduce methane emissions across the global natural gas sector.

George Tijbosch, Senior Advisor at MiQ, said: "Methane abatement remains a huge priority for the world achieving its climate goals and we welcome the partnership with Comstock Resources. We look forward to a fruitful relationship and working with them to achieve their environmental goals."

About Comstock Resources

Comstock Resources is a leading independent natural gas producer with operations focused on the development of the Haynesville Shale in North Louisiana and East Texas. The Company's stock is traded on the New York Stock Exchange under the symbol CRK.

About MiQ

MiQ has developed a universally applicable certification standard for credibly assessing the methane emissions performance of natural gas production around the world. The standard is independent, third-party audited, quantitative and graded across a sliding A-F scale based on three metrics: methane intensity, company practices and methane detection technology deployment. MiQ's Certification scheme is designed to improve transparency surrounding methane emissions and provide the backbone for a level playing field across the global natural gas market.

A MiQ Certificate represents the methane emissions performance attributes of a MMBTU of gas. To prevent double-counting, MiQ maintains a digital registry of all MiQ Certificates from Issuance through to Retirement. Visit www.miq.org for more information.

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct.

FAQ

What is Comstock Resources' goal with MiQ certification?

Comstock Resources aims to achieve MiQ certified natural gas status by mid-2022.

How much natural gas does Comstock produce daily?

Comstock currently produces approximately 2.0 billion cubic feet of natural gas per day.

What are the environmental achievements of Comstock Resources?

Comstock has reduced GHG emissions intensity by 38% and methane emissions intensity by 16% over the last three years.

Who is responsible for auditing Comstock's certification process?

Responsible Energy Solutions, LLC has been engaged as the third-party auditor for the certification process.