Comstock Resources Q2 2024 Earnings Report
Key Takeaways
Comstock Resources reported a net loss of $123.2 million for Q2 2024, influenced by weak natural gas prices and an $85.8 million unrealized loss on hedging contracts. Despite these challenges, the company saw a 4% increase in production compared to Q2 2023 and generated $118.1 million in operating cash flow.
Natural gas and oil sales totaled $278 million, including $60.6 million in realized hedging gains.
Operating cash flow was $118 million, or $0.41 per diluted share.
Adjusted net loss was $58.2 million, or $0.20 per share, excluding unrealized hedging losses.
The company turned 15 operated wells to sales with an average initial production of 21 MMcf per day.
Comstock Resources
Comstock Resources
Comstock Resources 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