Comstock Resources Q4 2024 net loss $55.3M; reserves drop to 3.8 Tcfe

COMSTOCK RESOURCES INC

2024-FY EPS reported -$0.76 revenue$1,254,455,000

Q4 2024 net loss $55.3M ($0.19/share); adjusted net income $46.3M ($0.16/share) excluding $126.9M unrealized hedging loss.
Q4 revenue $336.1M (incl. $47.8M realized hedging gains); operating cash flow $222.8M.
Proved reserves 3.8 Tcfe at Dec 31, 2024, down from 4.9 Tcfe, using SEC prices of $1.84/Mcf natural gas.
2025 capex budget $1.0-1.1B to run 7 rigs (4 in Western Haynesville) and drill 46 operated wells.
Six new Western Haynesville wells averaged 40 MMcf/d initial production; added 64,000 net acres in the play.

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