Company: CRK
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000950170-25-061651
Chunk: 10

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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This report contains forward-looking statements that involve risks, uncertainties and assumptions that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including those described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024 (the "Annual Report"). Actual results may differ materially from those anticipated in our forward-looking statements due to many factors. The following discussion should be read in conjunction with the consolidated financial statements and notes thereto included in this report and in our Annual Report.

Results of Operations

     Three Months EndedMarch 31,

     2025

     2024

     (In thousands, except per unit amounts)

     Net Production Data:

     Natural gas (MMcf)

     115,029

     139,443

     Oil (MBbls)

     10

     12

     Natural gas equivalent (MMcfe)

     115,091

     139,515

     Revenues:

     Natural gas sales
      
     $
     412,286

     $
     287,083

     Oil sales

     702

     876

     Total natural gas and oil sales
      
     $
     412,988

     $
     287,959

     Expenses:

     Production and ad valorem taxes
      
     $
     11,179

     $
     17,908

     Gathering and transportation
      
     $
     42,617

     $
     47,099

     Lease operating
      
     $
     35,000

     $
     35,072

     Exploration
      
     $
     2,150

     $
     —

     Average Sales Price:

     Natural gas (per Mcf)
      
     $
     3.58

     $
     2.06

     Oil (per Bbl)
      
     $
     70.20

     $
     73.00

     Average equivalent (Mcfe)
      
     $
     3.59

     $
     2.06

     Expenses ($ per Mcfe):

     Production and ad valorem taxes
      
     $
     0.10

     $
     0.13

     Gathering and transportation
      
     $
     0.37

     $
     0.34

     Lease operating
      
     $
     0.