Welcome to our dedicated page for Comstock Rscs news (Ticker: CRK), a resource for investors and traders seeking the latest updates and insights on Comstock Rscs stock.
Comstock Resources, Inc. (NYSE: CRK) is an independent natural gas producer focused on the development of the Haynesville shale in North Louisiana and East Texas. This news page aggregates company announcements, earnings releases, operational updates, and collaboration news so readers can follow how Comstock’s Haynesville-focused strategy evolves over time.
Visitors can review quarterly financial and operating results, where Comstock reports natural gas and oil sales, production volumes, production costs per unit, and non-GAAP measures such as adjusted net income, adjusted EBITDAX, and operating cash flow. These releases often include detailed drilling and completion updates for Haynesville and Bossier shale wells in both the Legacy Haynesville and Western Haynesville areas, with information on lateral lengths and initial production rates.
In addition to earnings coverage, the news feed includes announcements about conference call schedules, webcasts, and slide presentations that accompany results, as well as items such as the company’s dual listing on NYSE Texas. Readers can also find news on asset divestitures in East Texas and North Louisiana, agreements to sell properties, and portfolio adjustments that reflect Comstock’s focus on its Haynesville position.
Comstock’s news flow also features updates on collaborations and infrastructure-related initiatives, such as its exclusive, non-binding agreement with BKV Corporation to explore CCUS projects at Comstock’s natural gas processing facilities in its Western Haynesville area, and its collaboration with NextEra Energy Resources, LLC on potential power generation assets. For investors, analysts, and industry observers, this page offers a centralized view of Comstock’s latest disclosures and operational milestones. Bookmark this feed to quickly access new CRK announcements and historical press releases related to the company’s Haynesville-centered natural gas operations.
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.
Comstock Resources, Inc. (NYSE: CRK) announced that as of November 30, 2022, all outstanding shares of its Series B Convertible Preferred Stock have been converted into 43,750,000 shares of common stock. This conversion follows the initial issuance in July 2019, linked to the acquisition of Covey Park Energy LLC, and strengthens Comstock's balance sheet. Currently, there are 277,507,678 common shares outstanding, with the Jerry Jones family holding 66% ownership. The company focuses on natural gas production in the Haynesville shale region.
Comstock Resources (CRK) has appointed Trey Newell as Vice President of Corporate Development and Lori Kanaman as Vice President of Marketing. Newell, with over two decades in the midstream energy sector, aims to expand Comstock's natural gas markets in the Haynesville shale region. Kanaman brings 30 years of marketing experience in natural gas, previously focusing on the Haynesville and Permian basins. The company has seen a leadership change, with the departure of David Terry and Whitney Ward, who left to pursue other opportunities.
Comstock Resources (NYSE: CRK) announced a new senior secured revolving credit facility extending its existing credit facility's maturity to November 15, 2027. The initial borrowing base is set at $2.0 billion, with an elected commitment of $1.5 billion. This five-year, reserve-based facility was arranged by Wells Fargo Securities and includes a syndicate of 17 participating banks. The company specializes in natural gas production, particularly in the Haynesville shale region of North Louisiana and East Texas.
Comstock Resources, Inc. (NYSE: CRK) has reinstated a quarterly cash dividend for Q4 2022, setting it at an annual rate of $0.50 per share. Stockholders will receive $0.125 per share, with payment scheduled for December 15, 2022, to those on record as of December 1, 2022. This move reflects the company's confidence in its financial health and commitment to returning value to shareholders.
Comstock Resources reported record financial results for Q3 2022, achieving an operating cash flow of $533 million and free cash flow of $286 million. The company retired $250 million in debt, reducing leverage to under 1x. Adjusted net income was $326 million, equating to $1.18 per diluted share, with revenues reaching $692 million—76% higher than Q3 2021. The Board reinstated a quarterly dividend of $0.125 per share, the first since 2014, payable on December 15, 2022. Comstock's drilling program in the Haynesville shale contributed significantly, with 17 wells turned to sales averaging 29 MMcf per day.
Comstock Resources, Inc. (NYSE:CRK) has announced a rescheduling of its third quarter 2022 earnings release and conference call. The earnings report will be released on November 1, 2022, after the market closes, and the conference call will take place at 9:00 a.m. CT on November 2, 2022. Interested parties can register for the call to receive dial-in details. A replay of the call will be available starting at 12:00 p.m. CT on the same day. The company focuses on natural gas production primarily in the Haynesville Shale region.
Comstock Resources (NYSE: CRK) will release its third quarter 2022 financial results on November 8, 2022, after market close. A conference call to discuss these results is scheduled for November 9, 2022, at 10:00 a.m. CT. Interested participants must register in advance to receive the call-in details. The call will also be available via live webcast. A replay of the call will be accessible for twelve months starting from the broadcast.
Comstock is recognized as a leading independent natural gas producer, primarily operating in the Haynesville Shale region.
Comstock Resources (CRK) reported strong second-quarter results for 2022, generating $190 million in free cash flow. The company retired $271 million in senior notes, reducing its annualized leverage ratio to 1.2x. Adjusted net income was $274 million or $1.00 per diluted share, a significant increase in EBITDAX by 105% to $515 million. Oil and gas sales surged 86% year-over-year to $604 million. The company also completed a strategic acquisition and achieved certification for natural gas production under MiQ standards.
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