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 (CRK) delivers timely updates on oil and gas exploration, production milestones, and strategic developments. This page aggregates official press releases and verified news about the company’s operations in the Haynesville shale region and other key areas.
Investors and industry observers will find comprehensive coverage of quarterly results, operational updates, and management insights. The curated collection serves as a reliable resource for tracking CRK’s progress in natural gas markets and tight gas sands exploration.
Key focus areas include drilling advancements, reserve estimates, and regulatory developments. Content is organized for quick scanning while maintaining technical accuracy about shale plays and energy sector dynamics.
Bookmark this page to monitor CRK’s evolving position in North American energy markets. Check regularly for new announcements regarding production volumes, infrastructure investments, and commodity price strategies.
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.
Comstock Resources (CRK) has amended its cash tender offers to purchase up to $1.0 billion of its outstanding senior notes. This increase from the previous $750.0 million includes raising the combined cap for 2026 Notes from $325.0 million to $550.0 million. The other terms of the Tender Offers remain unchanged. The offers are subject to specific conditions that can be waived by the Company. Investors should note that this announcement does not constitute an offer to sell or solicitation to buy any securities.
Comstock Resources, Inc. (NYSE:CRK) announced the pricing of a private placement of new 6.75% senior notes due 2029, totaling $1.0 billion, up from the initial $750.0 million proposal. The offering will close on March 4, 2021. The net proceeds are expected to be about $984.0 million and will fund concurrent tender offers for part of the Company's existing senior notes due 2025 and 2026, covering premiums, interest, and fees. These notes have not been registered under the Securities Act and are intended for qualified institutional buyers.
Comstock Resources (CRK) announced plans for a private placement of senior notes due in 2029, depending on market conditions. The net proceeds will fund the repurchase of its 7.5% Senior Notes due 2025 and 9.75% Senior Notes due 2026. The tender offers for these notes were launched simultaneously. The securities are unregistered under the Securities Act and will be offered under specific exemptions. Comstock is a prominent independent natural gas producer in the Haynesville shale region of North Louisiana and East Texas.
Comstock Resources, Inc. (NYSE: CRK) announced cash tender offers to purchase up to $750 million of its senior notes, including $375 million of 7.5% notes due 2025 and $325 million of 9.75% notes due 2026. The offers prioritize acceptance by tender date, with an early tender premium of $30 applicable for submissions before March 3, 2021. The purchases will be financed through a new debt offering due in 2029, and the offers will expire on March 17, 2021. The company is also seeking consent to eliminate restrictive covenants related to the notes.
Comstock Resources reported its financial results for Q4 and the full year of 2020. For Q4, net income was $77.5 million, significantly aided by an unrealized gain of $80.2 million on hedging. Adjusted net income stood at $34.6 million, with natural gas production rising 6% to 1.2 MMcf per day. However, net loss for the full year reached $83.4 million due to a $124.5 million unrealized loss on derivatives. The company achieved an increase in total proved reserves to 5.6 Tcf of natural gas and 11.0 million Bbls of oil. Planned 2021 drilling budget is set at $510-$550 million.
Comstock Resources, Inc. (NYSE:CRK) has rescheduled its fourth quarter 2020 earnings release to February 16, 2021, after market close. The quarterly conference call will occur on February 17, 2021, at 10:00 a.m. CT. Investors can join the call by dialing 844-776-7840 for domestic or 661-378-9538 for international access. A replay will be available from 1:00 p.m. CT on February 17 until February 24. The company focuses on natural gas production, primarily in the Haynesville Shale region.
Comstock Resources, Inc. (NYSE:CRK) plans to release its fourth quarter 2020 results on February 17, 2021, after market hours. A conference call will follow on February 18, 2021, at 10:00 a.m. CT. Participants should connect at least 15 minutes early to ensure timely access. The call can be accessed via dial-in numbers and will also be live-streamed on Comstock's website. A replay will be available from February 18, 2021, at 1:00 p.m. CT until February 25, 2021.
Comstock Resources (NYSE: CRK) reported a net loss of $130.9 million, or $0.57 per share, for Q3 2020, primarily due to a $155.6 million unrealized loss on derivative instruments. Adjusted net loss was $13.8 million, or $0.06 per share. Natural gas production reached 102.6 Bcf, a 5% increase year-over-year, while oil production fell by 41% to 3,851 barrels per day. Average realized natural gas price dropped to $1.95 per Mcf, down from $2.26 a year earlier. Sales totaled $212.2 million, declining from $250.5 million in Q3 2019. Comstock plans to invest $525-$575 million in 2021 for drilling activities.
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