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 (NYSE:CRK) will release its first quarter 2023 results on May 2, 2023, post-market close. A conference call to discuss these results is scheduled for 10:00 a.m. CT on May 3, 2023. Interested parties can register to participate via a dedicated link, receiving a dial-in number and PIN for access. The call will also be available in listen-only mode on the company's website. A replay will be accessible for twelve months starting from 1:00 p.m. CT on May 3, 2023. Comstock Resources focuses on natural gas production, particularly in the Haynesville Shale region.
Comstock Resources reported strong financial results for fiscal 2022, generating $673 million in free cash flow, with production increasing 7% in Q4 2022 to 1,445 MMcfe per day. Annual oil and gas sales reached $2.3 billion, a 58% increase from 2021. Adjusted net income for 2022 was $1.0 billion, or $3.73 per diluted share. The company successfully drilled 73 operated wells and plans to allocate $950 million to $1.15 billion for drilling and completion in 2023. Comstock declared a $0.125 per share quarterly dividend, to be paid on March 15, 2023. A conference call is scheduled for February 15, 2023, to discuss results further.
Comstock Resources, Inc. (CRK) reported a 9% increase in its proved natural gas and oil reserves, totaling 6.7 trillion cubic feet equivalent (Tcfe) as of December 31, 2022, up from 6.1 Tcfe in 2021. The reserves, primarily natural gas (98% operated), have a present value of approximately $15.5 billion. In 2022, Comstock produced 501.1 billion cubic feet of natural gas equivalent, with fourth-quarter production averaging 1,445 million cubic feet per day, a 7% increase year-over-year. The company invested $1.032 billion in drilling and development activities, successfully adding 1.1 Tcfe to its reserves, replacing 216% of its 2022 production.
Comstock Resources (NYSE:CRK) will release its fourth quarter and annual 2022 results on February 14, 2023, after market close. A conference call is scheduled for 10:00 a.m. CT on February 15, 2023 to discuss these results. Interested participants must register to obtain dial-in information. The call will also be available live in listen-only mode via a designated URL.
Furthermore, a replay of the call will be accessible for twelve months starting from 1:00 p.m. CT on February 15, 2023, through the webcast link. Comstock Resources focuses on natural gas production in the Haynesville Shale region.
FAQ
What is the current stock price of Comstock Resources (CRK)?
What is the market cap of Comstock Resources (CRK)?
What does Comstock Resources, Inc. do?
Where is Comstock Resources, Inc. headquartered?
What areas does Comstock Resources, Inc. operate in?
What is the primary business segment of Comstock Resources, Inc.?
What are the core activities of Comstock Resources, Inc.?
How can I participate in Comstock Resources' conference calls?
What is the company's focus in terms of resource development?
What are some recent achievements of Comstock Resources, Inc.?
How does Comstock Resources ensure its financial health?
Who are Comstock Resources' partners?
