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Mar 31, 2024
Comstock Resources Q1 2024 Earnings Report
Comstock Resources' financial performance was affected by weak natural gas prices, but the company continued to execute on its drilling program and expand its leasehold in the Western Haynesville.
Key Takeaways
Comstock Resources reported natural gas and oil sales of $336 million, operating cash flow of $182 million, and an adjusted net loss of $8.5 million for the first quarter of 2024. The company also added 198,000 net acres to Western Haynesville and saw solid results from its Haynesville shale drilling program.
Continued weak natural gas prices weighed heavily on the first quarter results.
Natural gas and oil sales, including realized hedging gains, were $336 million.
Operating cash flow was $182 million or $0.65 per diluted share.
Added 198,000 net acres to Western Haynesville, increasing leasehold in the emerging play to over 450,000 net acres.
Revenue by Segment
Forward Guidance
Comstock Resources did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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