Last $10.49 USD
Change Today -0.54 / -4.90%
Volume 1.4M
CRK On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

comstock resources inc (CRK) Key Developments

Comstock Resources Inc. Appoints Larae L. Sanders as Vice President of Land

Comstock Resources Inc. announced the appointment of LaRae L. Sanders as Vice President of Land. Ms. Sanders has been with Comstock since 1995. She has served as the company's Land Manager since 2007, and has been instrumental in all of the company's active development programs and major acquisitions. Prior to joining Comstock, Ms. Sanders held positions with Bridge Oil Company and Kaiser-Francis Oil Company, as well as other independent exploration and production companies.

Comstock Resources, Inc. Declares Quarterly Dividend on Common Stock, Payable on December 15, 2014

Comstock Resources Inc. announced that its Board of Directors declared a dividend of $0.125 per share on the company's common stock. The dividend will be paid on December 15, 2014 to all stockholders of record as of the close of business on December 5, 2014.

Comstock Resources Inc. Announces Financial and Operating Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Write Offs for the Quarter; Provides Capital Expenditure and Production Guidance for the Fourth and Full Year of 2014

Comstock Resources Inc. announced financial and operating results for the third quarter and nine months ended September 30, 2014. Comstock reported a net loss of $1.9 million or 4 cents per share for the third quarter of 2014 as compared to a net loss from continuing operations of $24.0 million or 52 cents per share for the third quarter of 2013. Oil and gas sales (including realized gains or losses from hedging) of $144.6 million increased by 34% as compared to 2013's third quarter sales from continuing operations of $108.0 million. Operating cash flow (before changes in working capital accounts) increased 60% to $100.5 million for the third quarter of 2014 as compared with operating cash flow from continuing operations of $62.9 million for the third quarter of 2013. EBITDAX, or earnings before interest, taxes, depreciation, depletion, amortization, exploration expense and other noncash expenses, increased 40% to $114.4 million in the third quarter of 2014 from EBITDAX from continuing operations of $81.8 million in the third quarter of 2013. Net income of $1.2 million or 2 cents per diluted share for the first nine months of 2014 as compared to a net loss from continuing operations of $70.1 million or $1.45 per share for the first nine months of 2013. Oil and gas sales (including realized gains or losses from hedging) of $436.9 million in the nine months ended September 30, 2014 increased by 38% as compared to sales from continuing operations of $316.1 million in the nine months ended September 30, 2013. Operating cash flow (before changes in working capital accounts) increased 65% to $305.8 million for the first nine months of 2014 as compared with operating cash flow from continuing operations of $185.2 million for the first nine months of 2013. EBITDAX increased 45% to $346.0 million in the first nine months of 2014 from EBIT DAX from continuing operations of $238.2 million in the first nine months of 2013. Comstock produced 1.1 million barrels of oil and 10 billion cubic feet of natural gas or 16 billion cubic feet of natural gas equivalent in the third quarter of 2014. Oil production in the third quarter, which averaged 12,228 barrels of oil per day, grew 78% from the 6,870 barrels per day produced in the third quarter of 2013. Natural gas production in the third quarter of 2014 declined by 29% from natural gas production of 13.6 billion cubic feet in the third quarter of 2013. Comstock produced 3.2 million barrels of oil and 31 billion cubic feet of natural gas or 50 Bcfe in the first nine months of 2014. Oil production in the nine months ended September 30, 2014, which averaged 11,600 barrels of oil per day, grew 96% from the 5,900 barrels per day produced in the nine months ended September 30, 2013. Natural gas production in the first nine months of 2014 declined by 29% from natural gas production of 43.4 billion cubic feet in the first nine months of 2013. The third quarter 2014 results include an unrealized gain from derivative financial instruments of $12.4 million ($8.0 million after tax or 17 cents per share) and a charge of $11.4 million ($7.4 million after tax or 16 cents per share) to write off the Mach A #1H exploration well drilled in Burleson County, Texas which was lost during completion operations. For the fourth quarter of 2014, company expecting oil production to average between 11,500 to 13,500 barrels per day, and that rate will be very dependent on the timing of completions that have planned for the fourth quarter. Overall, this would give 83% to 91% growth over last year. Oil production has increased 78% from the third quarter of 2013. Company expects natural gas production to decline further into the fourth quarter and to average around 96 million to 101 million per day. For the fourth quarter of 2014, the company expects to spend about $75 million for all lease acquisition activity, including the first quarter acquisitions. For the full year 2014, the company expects to spend about $505 million in total on development and exploration drilling.

Comstock Resources Inc. to Report Q3, 2014 Results on Nov 03, 2014

Comstock Resources Inc. announced that they will report Q3, 2014 results After-Market on Nov 03, 2014

Comstock Resources Inc., Q3 2014 Earnings Call, Nov 04, 2014

Comstock Resources Inc., Q3 2014 Earnings Call, Nov 04, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
CRK:US $10.49 USD -0.54

CRK Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Bill Barrett Corp $13.34 USD -0.21
Legacy Oil + Gas Inc C$3.71 CAD -0.26
Northern Oil and Gas Inc $10.78 USD -0.68
Penn Virginia Corp $7.27 USD -0.57
Swift Energy Co $6.41 USD -0.26
View Industry Companies
 

Industry Analysis

CRK

Industry Average

Valuation CRK Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.9x
Price/Book 0.6x
Price/Cash Flow 1.7x
TEV/Sales NM Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact COMSTOCK RESOURCES INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.