Comstock's Q2 loss narrows but results miss estimates

|About: Comstock Resources Inc. (CRK)|By:, SA News Editor

Comstock Resources (CRK -5.6%) sinks after Q2 results came in well below expectations; net income surged amid income from discontinued operations, but revenue fell 2.5% Y/Y.

Q2 production was 551K barrels of oil and 14.2B cu. ft. of natural gas, or 17.5B cfe vs. 24.5B cfe in the year-ago quarter; oil production rose 20% Y/Y to 6,048 bbl/day, but gas production dropped 35% Y/Y due to the lack of drilling activity in CRK's Haynesville shale properties.