Comstock Rscs Stock Price, News & Analysis

Comstock Resources (NYSE: CRK) has announced a dual listing of its common stock on NYSE Texas, a new fully electronic equities exchange based in Dallas. While maintaining its primary listing on the New York Stock Exchange, Comstock will trade under the same "CRK" ticker symbol on NYSE Texas. The company joins as a Founding Member of NYSE Texas, demonstrating its commitment to Texas's economic growth.

Comstock Resources is a prominent independent natural gas producer focusing on Haynesville shale development in North Louisiana and East Texas. The dual listing reflects both NYSE's expansion strategy and Comstock's support for Texas's growing economy.

BKV Corp and Comstock Resources have announced an exclusive partnership to develop carbon capture projects in Texas. The non-binding agreement focuses on implementing CCUS (Carbon Capture, Utilization and Sequestration) projects at Comstock's Bethel and Marquez natural gas processing facilities in the Western Haynesville area.

The collaboration combines BKV's proven CCUS capabilities with Comstock's position as a leading producer in the Haynesville shale, which provides direct access to Gulf Coast markets and the LNG corridor. The partnership aims to permanently sequester carbon dioxide waste from these facilities and potentially other locations.

CEOs Chris Kalnin (BKV) and M. Jay Allison (Comstock) emphasized their shared commitment to sustainability and innovation in natural gas production. The initiative seeks to deliver scalable, low-carbon energy solutions to industrial customers while enhancing Comstock's infrastructure through innovative CCUS partnerships.

Comstock Resources reported its Q1 2025 financial results, showing improved performance driven by higher natural gas prices. The company achieved natural gas and oil sales of $405 million, with operating cash flow of $239 million ($0.81 per diluted share) and adjusted EBITDAX of $293 million.

Key highlights include:

• Natural gas production of 115 Bcf with realized prices of $3.58 per Mcf before hedging
• Fourteen operated wells turned to sales with average initial production of 25 MMcf per day
• Notable success with Western Haynesville well in Freestone County, producing 41 MMcf per day
• Production costs averaged $0.83 per Mcfe
• Unhedged operating margin of 77%

The company reported a net loss of $115.4 million ($0.40 per share), primarily due to a $322.4 million unrealized loss on hedging contracts. Excluding this and exploration expense, adjusted net income was $53.8 million ($0.18 per diluted share).

Comstock Resources (NYSE:CRK) has scheduled the release of its first quarter 2025 earnings results for April 30, 2025, after market close. The company will host a conference call to discuss the results on May 1, 2025, at 10:00 a.m. CT.

Interested participants must pre-register through the provided link to receive dial-in information. The call will also be available in listen-only mode via webcast. A replay of the conference call will be accessible for twelve months starting from 1:00 p.m. CT on May 1, 2025.

Comstock Resources (NYSE: CRK) reported its Q4 2024 financial results with natural gas and oil sales of $336 million, including realized hedging gains. The company's operating cash flow was $223 million ($0.76 per share), with adjusted EBITDAX of $252 million and adjusted net income of $46.3 million ($0.16 per share).

Q4 production was 124.2 Bcfe, down from 140.6 Bcfe in Q4 2023, due to reduced rig count and deferred completion activity. The realized natural gas price averaged $2.32 per Mcf before hedging and $2.70 after hedging. The company reported a net loss of $55.3 million, primarily due to a $126.9 million unrealized loss on hedging contracts.

Proved reserves as of December 31, 2024, were 3.8 Tcfe, down from 4.9 Tcfe in 2023, mainly due to lower natural gas prices. For 2025, Comstock plans to increase its drilling rigs from five to seven, with a budget of $1.0-1.1 billion for development and exploration projects.

Comstock Resources (NYSE:CRK) has scheduled the release of its fourth quarter 2024 financial results for February 18, 2025, after market close. The company will host a conference call to discuss these results on February 19, 2025, at 10:00 a.m. CT.

Interested participants must pre-register through the provided link to receive dial-in information. The call will also be available in listen-only mode via webcast. A replay of the conference call will be accessible for twelve months starting from 1:00 p.m. CT on February 19, 2025.

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)