secwatch.observer — SEC 8-K summary
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Issuer:     COMSTOCK RESOURCES INC (CRK)
CIK:        0000023194
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0000950170-24-014590
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Comstock Q4 net income $108.4M; suspends dividend, cuts rigs to 5 on weak nat gas
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- Q4 2023 net income $108.4M ($0.39/share); adjusted net income $27.9M ($0.10/share).
- Natural gas & oil sales $353.5M incl. realized hedging; adj. EBITDAX $244M.
- Proved reserves fell to 4.9 Tcfe from 6.7 Tcfe due to 56% lower natural gas pricing.
- Plans to suspend quarterly dividend until nat gas prices improve; 2024 capex $750-$850M.
- Operating rig count reduced from 7 to 5; 22 wells turned to sales avg 24 MMcf/d.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/23194/000095017024014590/0000950170-24-014590-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/23194/000095017024014590/crk-20240213.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-014590

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer