Company: CRK
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024783
Chunk: 9

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 9
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 of the proved natural gas and oil reserve volumes. As a basis for using this work, the specialists' qualifications were understood and the Corporation's relationship with the specialists was assessed. The procedures performed also included i) evaluating the methods and assumptions used by the specialists, ii) evaluating the specialists' findings related to estimated future production volumes by comparing the estimate to relevant historical and current period information, iv) for proved undeveloped reserves, we evaluated management's development plan for compliance with SEC requirements, as applicable.

/s/ ERNST & YOUNG LLP

We have served as the Company's auditor since 2003.

Dallas, Texas

February 21, 2025

F-2

COMSTOCK RESOURCES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

    As of December 31,

    2024

    2023

    ASSETS
     
    (In thousands)

    Cash and cash equivalents
     
    $
    6,799

    $
    16,669

    Accounts receivable:

    Natural gas and oil sales and gas services

    145,398

    166,639

    Joint interest operations

    23,956

    48,704

    From affiliates

    5,492

    16,087

    Derivative financial instruments

    4,865

    126,775

    Other current assets

    97,524

    86,619

    Total current assets

    284,034

    461,493

    Property and equipment:

    Natural gas and oil properties, successful efforts method:

    Proved

    8,054,250

    7,126,519

    Unproved

    424,648

    343,419

    Other

    150,023

    62,382

    Accumulated depreciation, depletion and amortization

    (2,940,532
    )

    (2,147,549
    )

    Net property and equipment

    5,688,389

    5,384,771

    Goodwill

    335,897

    335,897

    Operating lease right-of-use assets

    73,777

    71,462

    $
    6,382,097

    $
    6,253,623

    LIABILITIES AND STOCKHOLDERS'