Company: CRK
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024783
Chunk: 128

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 128
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-use lease assets for contracts less than one year. The costs associated with drilling and completion operations are accounted for under the successful efforts method, which require that these costs be capitalized as part of our proved natural gas and oil properties on our balance sheet unless they are incurred on exploration wells that are unsuccessful, in which case they are charged to exploration expense. For drilling rig leases, the Company has elected the practical expedient to not separate lease components from nonlease components in the determination of their lease asset and liability values.

F-10

COMSTOCK RESOURCES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

Lease costs recognized during the years ended December 31, 2024, 2023 and 2022 were as follows: 

          Year Ended December 31,

          2024

          2023

          2022

          (In thousands)

          Operating lease cost included in general and administrative expense
           
          $
          1,686

          $
          1,768

          $
          1,749

          Operating lease cost included in lease operating expense

          2,208

          2,060

          1,383

          Operating lease cost included in proved natural gas and oil properties

          34,644

          56,755

          25,200

          Variable lease cost (drilling and completion costs included in proved natural gas and oil properties)

          2,555

          28,406

          25,095

          Short-term lease cost (drilling costs included in proved natural gas and oil properties)

          26,276

          89,163

          62,077

          $
          67,369

          $
          178,152

          $
          115,504

         Cash payments for operating leases associated with right-of-use assets included in cash provided by operating activities were $3.9 million, $3.8 million and $3.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. Cash payments for operating leases associated with right-of-use assets included in cash used for investing activities were $63.5 million, $174.3 million and $112.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024 and