Company: CRK
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024783
Chunk: 46

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 46
---
bls)

    Natural Gas(MMcf)(1)

    Total(MMcfe)(1)

    PV 10 Value(000's)(2)

    Proved Developed:

    Producing

    305

    2,683,022

    2,684,851

    $
    1,465,335

    Non-producing

    26

    48,790

    48,946

    15,614

    Total Proved Developed

    331

    2,731,812

    2,733,797

    1,480,949

    Proved Undeveloped

    —

    1,030,286

    1,030,286

    121,825

    Total Proved

    331

    3,762,098

    3,764,083

    1,602,774

    Discounted Future Income Taxes

    (4,580
    )

    Standardized Measure of Discounted Cash Flows

    $
    1,598,194

______________

(1)Natural gas volumes include NGLs. Oil and NGLs are converted to natural gas equivalents by using a conversion factor of one barrel of oil or NGLs for six Mcf of natural gas based upon the approximate relative energy content of oil to natural gas, which is not indicative of natural gas and oil prices.

(2)The PV 10 Value represents the discounted future net cash flows attributable to our proved natural gas and oil reserves before income tax, discounted at 10%. Although it is a non-GAAP measure, we believe that the presentation of PV 10 Value is relevant and useful to our investors because it presents the discounted future net cash flows attributable to our proved reserves prior to taking into account corporate future income taxes and our current tax structure. We use this measure when assessing the potential return on investment related to our natural gas and oil properties. The standardized measure of discounted future net cash flows represents the present value of future cash flows attributable to our proved natural gas and oil reserves after income tax, discounted at 10%.

8

COMSTOCK RESOURCES, INC.

The following table sets forth our year end reserves as of December 31 for each of the last three fiscal years:

    2024

    2023

    2022

    Oil(MBbls)

    Natural Gas(MMcf) (1)

    Oil(MB