One stock that might be an intriguing choice for investors right now is Comstock Resources, Inc. (CRK) . This is because this security in the Oil and Gas - Exploration and Production - United States space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective. In fact, over the past month, current quarter estimates have narrowed from a loss of 15 cents per share to a loss of 14 cents per share, while current year estimates have narrowed from a los ...

Financial Data and Key Metrics Changes - Oil and gas sales, including hedging, were $336 million in the quarter, a decline of 14% from the first quarter of 2023 despite a 10% increase in production [48][53] - Cash flow from operations was $182 million or $0.65 per share, with adjusted EBITDAX at $230 million [48][53] - Adjusted net loss was $0.03 per share for the quarter, compared to income of $92 million in the first quarter of 2023 [53] Business Line Data and Key Metrics Changes - In the first quarter, the company drilled 16 successful operated Haynesville and Bossier Shale horizontal wells, with an average initial production (IP) rate of 27 million cubic feet per day [49][57] - The average lateral length of the wells drilled was 909,227 feet [49] - Four new Western Haynesville wells were turned to sales, each with IP rates of 35 million to 38 million cubic feet per day [50] Market Data and Key Metrics Changes - The quarterly NYMEX settlement price averaged $2.24, which was $0.17 lower than the average Henry Hub spot price of $2.41 [54] - Realized gas price during the first quarter averaged $2.06, reflecting a $0.18 differential to the settlement price [54] Company Strategy and Development Direction - The company aims to be a significant supplier to the growing LNG market, with a long-term goal to develop its Western Haynesville acreage [19][78] - The company has reduced its capital expenditures (CapEx) by 33% to 41% from the 2023 level due to the low-price environment [76] - The company is focused on maintaining strong financial liquidity, which totaled over $1.3 billion at the end of the first quarter [76] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the weak natural gas price environment and emphasized the importance of managing costs and liquidity [21][79] - The company is optimistic about the future demand for natural gas driven by LNG exports starting in the second half of next year [78] - Management expressed confidence in the resource potential of the Western Haynesville, noting improvements in well performance and EURs [26][27] Other Important Information - The company added 198,000 net acres to its Western Haynesville play, increasing its total acreage position to over 450,000 net acres [45][47] - The company has a strong hedge position, being 50% hedged for the fourth quarter of this year and about a third hedged for 2025 and 2026 [51] Q&A Session Summary Question: How does the capital efficiency of the Western Haynesville investment compare to the industry? - Management indicated that while the Western Haynesville is being developed at a higher cost, it also has significantly larger reserves, making it a long-term investment [89][90] Question: What is the activity required to hold the resource in light of recent leasing success? - Management stated that 95% of the newly acquired acreage is held by production, and there is no immediate need to increase drilling activity in the low-price environment [96]

(Mark One) For the quarterly period ended March 31, 2024 Commission File No. 001-03262 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electroni ...

Comstock Resources (CRK) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 62.50%. A quarter ago, it was expected that this oil and gas company would post earnings of $0.16 per share when it actually produced earnings of $0.10, delivering a surprise of -37.50%.Over the last four quarters, t ...

Exhibit 99.1 5300 Town and Country Blvd., Suite 500 Frisco, Texas 75034 Telephone: (972) 668-8834 Contact: Ron Mills VP of Finance and Investor Relations Web Site: www.comstockresources.com NEWS RELEASE For Immediate Release COMSTOCK RESOURCES, INC. REPORTS FIRST QUARTER 2024 FINANCIAL AND OPERATING RESULTS FRISCO, TEXAS, May 1, 2024 – Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) today reported financial and operating results for the quarter ended March 31, 2024. Highlights of 2024's F ...

FRISCO, TX, April 05, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) plans to release first quarter 2024 results on May 1, 2024 after the market closes and host its quarterly conference call at 10:00 a.m. CT on May 2, 2024 to discuss the first quarter results.   Parties interested in participating in the conference call telephonically will need to register at https://register.vevent.com/register/BI8bd2e2b2cbc74630942006e39bfd6cb5. Upon registering to participate in the conference call, partici ...

FRISCO, TX, April 02, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) ("Comstock" or the "Company") announced today the pricing of its private placement of new 6.75% senior unsecured notes due 2029 in the aggregate amount of $400.0 million, which was increased from the originally proposed $375.0 million (the "Notes"). The Notes will be issued at 93% of par. The offering is expected to close on April 9, 2024, subject to customary closing conditions. The aggregate net proceeds from the sale of th ...

FRISCO, TX, April 02, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE:CRK) announced today that, subject to market conditions, it intends to offer $375.0 million principal amount of its 6.75% senior notes due in 2029 (the "New Notes") in a private placement to eligible purchasers. The New Notes are a mirror issue to the Company's existing 6.75% senior notes due 2029 (the "Original Notes"), of which $1,223.9 million aggregate principal amount is currently outstanding. Th ...

Huge Insider Buying From Buffett, an NFL Team Owner, a New CEO frender / iStock via Getty Images Yet again, the Oracle of Omaha has bolstered his stake in a media giant’s tracking stocks. However, Warren Buffett was not the only one making notable insider purchases in the past week or so. An NFL team owner also picked up shares in a local energy company, a beneficial owner made big buys in two separate biopharmaceutical companies, and a new CEO showed his love for his company as well.A well-known adage re ...

A large cash injection by an obviously dedicated shareholder provided quite the lift for Comstock Resources (CRK 0.22%) stock this week. The completion of the arrangement brought the bulls rushing into the energy company's stock -- it was trading nearly 11% higher week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence.A Cowboy rides to the rescueThat shareholder is the man who already controlled much of Comstock's equity, veteran oil and gas tycoon Jerry Jones ...