COMSTOCK RESOURCES, INC. REPORTS SECOND QUARTER 2025 FINANCIAL AND OPERATING RESULTS

Financial Performance - Comstock Resources reported natural gas production of 112 Bcf in Q2 2025, with sales totaling $344.3 million, including hedging gains of $4.3 million [4][10] - The company achieved an operating cash flow of $209.6 million and a net income of $130.7 million, translating to $0.44 per diluted share for the quarter [4][10] - For the first half of 2025, Comstock realized $3.31 per Mcf before hedging and $3.29 per Mcf after hedging, with total sales of $749.3 million [7][8] Cost and Margin Analysis - The average production cost per Mcfe in Q2 2025 was $0.80, with an unhedged operating margin of 73% and a hedged operating margin of 74% [5][8] - For the first six months of 2025, the average production cost per Mcfe was $0.82, maintaining a 75% operating margin [8] Drilling and Production Results - Comstock drilled twelve operated horizontal Haynesville/Bossier shale wells in Q2 2025, achieving an average lateral length of 10,388 feet and initial production rates averaging 36 MMcf per day [10][11] - The company has turned 21 wells to sales in 2025 in its Legacy Haynesville area, with an average lateral length of 11,803 feet and initial production rates of 25 MMcf per day [10] Strategic Initiatives - Comstock is collaborating with NextEra Energy Resources to explore the development of power generation assets near its Western Haynesville area, aiming to integrate its natural gas supply with energy solutions for data center customers [12]