- 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)