CRK Stock Recent News

Jerry Jones owns enough stock to control Comstock Resources. Demand for natural gas is still growing, as indicated by bullish forecasts from gas handling equipment suppliers. Supply growth is moderating and storage levels are comfortably below peak levels, suggesting a potential adjustment in natural gas prices.

Haynesville pure play E&P companies face challenges in 2024 due to falling natural gas prices, rising supply and stable demand. Comstock will see cash burn through 2024 as a result of lower natural gas prices and high infrastructure & drilling costs in the Western Haynesville. Production data shows high IP and decline rates in the Western Haynesville.

Comstock Resources stock is down 20% due to warmer weather and high gas storage levels. New LNG plants set to open in 2024-2026 will create new demand for gas. The future investment case for Comstock Resources depends on higher gas prices and potential catalysts in the Haynesville region.

The final edition of my natural gas export playbook has analyzed two companies that didn't make the cut but still poses opportunity to capitalize on LNG exports. Comstock Resources and USA Compression receive an honorable mention for potential growth in the natural gas market. Both companies are small in size that have the ability to outperform if their weaknesses can be properly managed.

The headline numbers for Comstock (CRK) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Comstock Resources has low production costs, but there are other factors to consider when investing in the company. Operating costs for the company are among the best in the industry. But drilling and completion costs more than offset that advantage. Competitors with higher production volume or higher value production may be more profitable in the long run.

Comstock is now projected to end up with a modest amount of positive cash flow in 2024 after dividends. CRK's value is estimated at $12.75 at long-term $3.75 NYMEX gas and $14.75 at long-term $4.00 NYMEX gas. Overall, natural gas supply growth has been relatively flat and may start declining.

FRISCO, TX, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) plans to release third quarter 2023 results on October 30, 2023 after the market closes and host its quarterly conference call at 10:00 a.m. CT on October 31, 2023 to discuss the third quarter results.

Comstock Resources is a natural gas exploration and production company focused on the Haynesville shale region. The company's breakeven costs are low, with all-in break-even prices at $2.17 per MMbtu in 1H 2023. Natural gas prices are expected to have a floor around $3 per MMbtu, providing potential for stronger margins in the future.

Although the revenue and EPS for Comstock (CRK) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.