Company: CRK
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024783
Chunk: 30

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 30
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's reported results of operations, financial position or liquidity. The Company is still evaluating the impact of this standard on its financial statement disclosures.

F-15

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

In November 2024, the FASB issued ASU 2024-03 "Disaggregation of Income Statement Expenses". ASU 2024-03 requires additional disclosure, in the notes to the financial statements, of specified information about certain costs and expenses, including purchases of inventory, employee compensation, depreciation, intangible asset amortization and depreciation, depletion and amortization recognized as part of oil and gas-producing activities included in each relevant expense caption. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027 and will not have an impact on the Company's reported results of operations, financial position or liquidity but will have an impact on the Company's financial statement disclosures. The Company is still evaluating the impact of this standard on its financial statement disclosures.

(2)Acquisitions and Dispositions of Natural Gas and Oil PropertiesAcquisitionsDuring 2024, 2023 and 2022, the Company spent $106.4 million, $98.6 million and $54.4 million on its leasing program to acquire 265,290, 79,741 and 104,314 net acres, respectively, of undeveloped acreage in the Western Haynesville area through direct leasing or through acquisitions of undeveloped rights from third-party operators.In 2022, the Company also acquired a pipeline and natural gas treating plant from an unaffiliated third party for $16.8 million.DispositionsThe Company sold its interests in certain non-operated natural gas and oil properties for $1.2 million, $41.3 million and $4.1 million in 2024, 2023 and 2022, respectively. 

(3)Natural Gas and Oil Producing ActivitiesSet forth below is certain information regarding the aggregate capitalized costs of natural gas and oil properties and costs incurred by the Company for its natural gas and oil property acquisition, development and exploration activities:Capitalized Costs 

        As of December 31,

        2024

        2023

        (In thousands)

        Proved properties:

        Leasehold costs
         
        $
        3,244,996