Comstock Resources reports Q3 net loss $25.7M; adjusted loss $0.17/sh on weak gas prices

COMSTOCK RESOURCES INC

2024-Q3 EPS reported -$0.57 revenue$887,074,000

Q3 net loss $25.7M ($0.09/sh); adjusted net loss $48.5M ($0.17/sh) on weak natural gas prices.
Natural gas and oil sales $305M (incl. $51.4M hedging gains); operating cash flow $152M.
Drilled 8 wells; first horseshoe Haynesville well initial production 31 MMcf/d.
Western Haynesville acreage reached 453,881 net acres; well costs down to $2,814 per completed lateral foot.
Bank group reaffirmed $2.0B borrowing base; amended covenants under $1.5B credit facility.

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