FRISCO, TX, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) today reported financial and operating results for the quarter ended September 30, 2024.

Excerpt. Link to full report: https://investors.comstockresources.com/news-releases/news-release-...

Highlights of 2024's Third Quarter

• Weak natural gas prices continued to weigh heavily on the third quarter financial results.
• Natural gas and oil sales, including realized hedging gains, were $305 million.
• Operating cash flow was $152 million or $0.52 per diluted share.
• Adjusted EBITDAX for the quarter was $202 million.
• Adjusted net loss was $48.5 million or $0.17 per share for the quarter.
• Lower completion activity was planned for the quarter, resulting in eight (5.4 net) operated wells being turned to sales since the Company's last update with an average initial production of 21 MMcf per day.
• First horseshoe Haynesville well was successful with a 31 MMcf per day initial production rate.
• Western Haynesville exploratory play continues to progress with acreage position up to 453,881 net acres and most recent well costs down to an estimated $2,814 per completed lateral foot. Comstock's thirteenth Western Haynesville well is on flowback with another five wells in the play expected to be turned to sales in late 2024 through early 2025.