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 (CRK) announced its Q2 2021 financial results, reporting an adjusted net income of $55 million, or $0.22 per diluted share. Production averaged 1,387 MMcfe per day, an 8% increase QoQ, with revenues reaching $325 million, a 40% rise compared to Q2 2020. Operating cash flow was $196 million. The company refinanced its 9.75% senior notes, reducing annual interest payments by $28 million. However, it reported a net loss of $184.1 million due to a pre-tax loss on debt retirement and unrealized hedging losses. Future drilling activities remain on track for continued growth.
Comstock Resources (CRK) will release its second quarter 2021 earnings on August 3, 2021, after market close. A conference call is scheduled for 10:00 a.m. CT on August 4, 2021, with a dial-in number of 844-776-7840 and an international option at 661-378-9538 (Conference ID: 9664203). The event will also be streamed live on their website. A replay will be available from 1:00 p.m. CT on August 4 until 1:00 p.m. CT on August 11.
Comstock Resources, Inc. (NYSE:CRK) has announced the pricing of a private placement of 5.875% senior unsecured notes totaling $965 million, increased from an initial $500 million offering. The closing is anticipated on June 28, 2021. Net proceeds are expected to be around $949.5 million, aimed at redeeming the Company’s 9.75% senior notes due 2026. The notes are not registered under the Securities Act, limiting their sale without exemptions. Comstock is recognized as a leading independent natural gas producer, focusing on the Haynesville shale.
Comstock Resources (CRK) announced plans for a private placement of senior notes due 2030, subject to market conditions. The proceeds will be used to redeem part of the 9.75% Senior Notes due 2026 and cover related expenses. The offering is intended for eligible purchasers and will not be registered under the Securities Act. The company, focused on the Haynesville shale region, remains committed to its operational growth and financial stability.
Comstock Resources, Inc. (NYSE: CRK) has promoted Brian Claunch to Vice President of Financial Reporting, effective immediately. Claunch, who previously served as Director of Financial Reporting at Comstock since June 2020, has extensive experience, including roles at Guidon Energy and Pioneer Natural Resources. This announcement underscores Comstock's commitment to enhancing its financial leadership as it continues to operate in the Haynesville shale region. Forward-looking statements in the release indicate potential uncertainties ahead.
Comstock Resources reported a first-quarter adjusted net income of $63 million or $0.25 per diluted share. Production averaged 1,281 MMcfe per day, 6% higher than Q4 2020. The average realized price rose to $2.88 per Mcfe, leading to total revenues of $340 million, a 22% increase year-over-year. Operating cash flow was $207 million. The company refinanced $1.15 billion in senior notes, saving $19.5 million in annual interest. Comstock turned 14 wells to sales and plans to turn 17 more in Q2 2021, focusing on reducing greenhouse gas emissions through a partnership with BJ Energy Solutions.
Comstock Resources (NYSE:CRK) plans to release its first quarter 2021 financial results on May 4, 2021, after market close. The company will host a conference call to discuss these results on May 5, 2021 at 10:00 a.m. CT. Participants are encouraged to dial in 15 minutes early for connection. A replay of the call will be available from 1:00 p.m. CT on May 5 until 1:00 p.m. CT on May 12, 2021. Comstock operates primarily in the Haynesville Shale region of North Louisiana and East Texas.
Comstock Resources, Inc. (NYSE: CRK) announced new early results of its cash tender offers to purchase up to $1.25 billion of its outstanding senior notes. The Aggregate Maximum Tender Amount was increased from $1.0 billion, and the 2026 Notes cap rose from $550 million to $780 million. As of March 3, 2021, approximately $1.9 billion of Notes were tendered. The purchase price will exceed the Aggregate Maximum Tender Amount, leading to a likely halt on further purchases after this Early Tender Date. Early tender premium details are included in the announcement.
Comstock Resources (NYSE:CRK) announced the pricing of its private placement of 6.75% senior notes due 2029, totaling $250.0 million, sold at 103% of par. The offering is set to close on March 4, 2021. The net proceeds, approximately $253.0 million, will fund an increase in the tender offer amounts for existing 7.5% and 9.75% senior notes and cover associated fees. These notes are not registered under the Securities Act and will be available for trading by eligible buyers.
Comstock Resources, Inc. (CRK) plans to offer an additional $250 million of 6.75% senior notes due 2029 in a private placement, contingent on market conditions. This issuance is part of a larger total of $1 billion expected to be issued on March 4, 2021. The proceeds will fund an increased maximum tender amount for existing senior notes due 2025 and 2026, along with associated fees. The new notes will be treated as a single series with existing 2029 notes and will not be registered under the Securities Act, limiting their sale in the U.S.
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?
