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Comstock Resources rises ~9% on Q4 earnings beat

Feb. 21, 2019 11:13 AM ETComstock Resources, Inc. (CRK) StockBy: Vandana Singh, SA News Editor2 Comments
  • Comstock Resources (NYSE:CRK +9.3%) produced 30.9B cubic feet of natural gas and 843,000 bbl of oil or 35.9 Bcfe in Q4
  • Natural gas production averaged 336 MMcf per day, +39% Y/Y primarily attributable to improved results from Comstock's Haynesville shale drilling program
  • Q4 oil production averaged 9,155 bbl/day barrels of oil per day, increased from the 2,319 bbls/day due to production from the Bakken Shale properties acquired in the Jones Contribution.
  • Average realized oil price after hedging was $57.80/bbl and gas price after hedging was $3.07 per Mcf.
  • Comstock plans 2019 capital expenditures of ~$364M; the company expects to spend additional $24.2M on its Bakken shale and Eagle Ford shale properties.
  • Previously: Comstock Resources beats by $0.20, beats on revenue (Feb. 21)

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