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COMSTOCK RESOUCES (CRK) Stocks

ABOUT COMSTOCK RESOUCES

📊 Comstock Resources, Inc., an independent energy company, was incorporated on November 23, 1983 and has its headquarters in Frisco, Texas in the United States. The company focuses on the acquisition, exploration, development and production of oil and natural gas in the U.S. Its operations are focused in Texas and Louisiana. It has also acquired producing properties in Wyoming and North Dakota.

📊 The company’s subsidiaries include Covey Park Energy LLC, Comstock Oil & Gas LP, Comstock Escrow Corporation, Comstock Offshore LLC, Comstock Oil & Gas Holdings, Inc. and Bios dArc Offshore Ltd., to name but a few. At the end of December 2017, the company owned interests in 1 309 producing wells. Its oil and gas properties’ proved reserves are estimated at about 1.2Tcfe (96% natural gas and 4% oil).

📊 From 2015 to 2017, for example, the company has drilled and completed a total of 35 operated wells with and average per well initial production rate of 25MMcf per day.

📊 The company offers potential investors the opportunity to invest in a company with a proven track-record of successfully developing new shale resource plays.

📊 Today, the company employs approximately 113 people.

HISTORY OF COMSTOCK RESOUCES

  • Comstock Resources, Inc. operates in the fields of exploration and production of oil and natural gas. The company focuses its primary operations in two areas: East Texas/North Louisiana and South Texas. It owns approximately 80 660 acres in the Haynesville and Bossier shale formations in this areas. Its Eagleville field include about 30 220 acres in South Texas’ Eagle Ford Shale.
  • Comstock owns interests in more than 1 575 producing oil and natural gas wells of which it operate 950.
  • In the East Texas/North Louisiana Region the company owns about 494.4 billion cubic feet of natural gas equivalent (BCFE), comprising 920 producing wells in more than 30 field areas. It operates 640 of these wells. Production in this region averages about 160 barrels of oil per day. About 19% (20.0Bcfe) of Comstock’s proved reserves are located in South Texas where the company owns interest in more than 320 producing wells in about 10 field areas in this region.
  • The company also owns about 2% (9.6Bcfe) proved reserves in areas such as New Mexico and the Mid-Continent region. It also has a large acreage position in Louisiana and Mississippi in the Tuscaloosa Marine shale play.

VISION & VALUES OF COMSTOCK RESOUCES

  • Comstock Resources, Inc. is wholly committed to customer satisfaction. The company strives to promote professionalism at all times. Its business practices are founded on core values such as integrity.
  • The company respects all individuals and organizations that it does business with and regards its competent workforce as its most valuable resource.
  • It encourages collaboration and fosters a working environment conducive to the development of an entrepreneurial spirit. Honesty and accountability are non-negotiable. This approach to business stimulates company growth and adds value for shareholders who purchase company shares.

MARKET PERFORMANCE OF COMSTOCK RESOUCES

  • Comstock Resources, Inc. trades on the New York Stock Exchange (NYSE) under the stock symbol “CRK”.
  • For the second quarter of 2019, the company reported net income of US$ 21.4 million compared to a net loss of US$ 34.0 million for the second quarter of 2018.
  • Natural gas production averaged 450MMcf per day, an increase of 88% over the second quarter of 2018, and 22% higher than the first quarter of 2019.
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